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{ "pk": 28539, "title": "People’s perception of others’ risk preferences", "subtitle": null, "abstract": "Our everyday decisions are driven by costs, risk, and reward.How do people take these factors into account when they pre-dict and explain the decisions of others? In a two-part exper-iment, we assessed people’s perceptions of other people’s riskpreferences, relative to their own. In Part 1, participants re-ported their relative preference between a guaranteed payoutand lotteries with various probabilities and payouts, and madepredictions about other people’s preferences. In Part 2, partic-ipants estimated the lottery payout that generated a given rela-tive preference between a guaranteed payout and a lottery, bothfor themselves and others. We found considerable individualvariability in how people perceive the risk preferences of oth-ers relative to their own, and consistency in people’s percep-tions across our two measures. Future directions include for-mal computational models and developmental studies of howwe think about our own and each other’s decision-making.", "language": "eng", "license": { "name": "", "short_name": "", "text": null, "url": "" }, "keywords": [ { "word": "intuitive psychology; decision making; risk" } ], "section": "Papers with Oral Presentations", "is_remote": true, "remote_url": "https://escholarship.org/uc/item/9ph3w743", "frozenauthors": [ { "first_name": "Shari", "middle_name": "", "last_name": "Liu", "name_suffix": "", "institution": "Harvard University", "department": "" }, { "first_name": "Tomer", "middle_name": "", "last_name": "Ullman", "name_suffix": "", "institution": "Harvard University", "department": "" }, { "first_name": "John", "middle_name": "", "last_name": "McCoy", "name_suffix": "", "institution": "University of Pennsylvania", "department": "" } ], "date_submitted": null, "date_accepted": null, "date_published": "2019-01-01T18:00:00Z", "render_galley": null, "galleys": [ { "label": "PDF", "type": "pdf", "path": "https://journalpub.escholarship.org/cognitivesciencesociety/article/28539/galley/18410/download/" } ] }