TY  - JOUR
PY  - 2006//
TI  - Behavioral probabilities
JO  - Journal of risk and uncertainty
A1  - Viscusi, W. Kip
A1  - Evans, W. N.
SP  - 5
EP  - 15
VL  - 32
IS  - 1
N2  - This article introduces the concept of behavioral probabilities, along with an econometric procedure for jointly estimating these probabilities as well as individual utility functions. Behavioral probabilities that guide decisions differ from posterior probabilities that are reported after receiving risk information. The underlying process that generates behavioral probabilities reflects a behavioral anomaly as the new risk information takes on an excessive role. While utility function estimates are consistent with theoretical predictions, considering behavioral probabilities alters their implications.<p />
LA  - 
SN  - 0895-5646
UR  - http://dx.doi.org/
ID  - ref1
ER  -