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Why use real and hypothetical payoffs?
Published online by Cambridge University Press: 06 November 2001
Abstract
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Decision making can be studied using hypothetical payoffs because it is hypothetical to its very core. However, the core process can be influenced by contextual features. As there is no theory for these contextual features, a “do-it-both-ways” rule amounts to a waste of money. If we had such a theory, doing it both ways would be unnecessary.
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- © 2001 Cambridge University Press
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