The resolution of uncertainty in the value and probability domains

• 成果类型: Article
• 署名作者: Lee, Eungik; Ngangoue, Kathleen; Schotter, Andrew
• 署名单位: New York University
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2026.05.009
• 发表日期: 2026
• 关键词: myopic loss aversion; decision-making; temporal resolution; utility-theory; risk-taking; INFORMATION; preference; consumption; lotteries; reduction

摘要

We compare preferences for temporal resolution when uncertainty is resolved over a probability rather than a value. In various theoretical frameworks, preferences over gradual versus one-shot resolution do not depend on whether values or probabilities define the main object of uncertainty. In our experiment, however, we find that preferences for resolution vary with the type of prize: subjects prefer gradual resolution for uncertain value prizes, whereas no such preference emerges for uncertain probability prizes. To explain our findings, we propose an explanation based on what we call process utility.