Subjective probability and decision under uncertainty

N. T. Feather

Research output: Contribution to journalArticle

97 Citations (Scopus)

Abstract

The concept of subjective probability is investigated in Levin's level of aspiration, Tolman's principles of performance, Rotter's fundamental equation in social learning theory, Edward's subjectively expressed utility (SEU) model in decision theory, and Atkinson's risk-taking model. Though from different areas in psychology, the similarity of these concepts is demonstrated. One discrepancy between the concepts, however, is open to experimental investigation: are valences, reinforcement values, and utilities independent of subjective probability or not? Experiments to test this are outlined. (36 ref.) (PsycINFO Database Record (c) 2006 APA, all rights reserved).

Original languageEnglish
Pages (from-to)150-164
Number of pages15
JournalPsychological Review
Volume66
Issue number3
DOIs
Publication statusPublished - 1 May 1959

Keywords

  • SUBJECTIVE PROBABILITY, INFORMATION THEORY & INFORMATION THEORY, DECISION MAKING & PROBLEM SOLVING & THINKING

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