Topic: risk preferences

Contrary to the original normative decision-making standpoint, empirical studies have repeatedly reported that risk preferences are affected by the disclosure of choice outcomes (feedback). Although no consensus has yet emerged regarding the properties and mechanisms of this effect, a widespread and intuitive hypothesis is that repeated feedback affects risk preferences by means of a learning effect, which alters the representation of subjective probabilities. Here, we ran a series of seven experiments (N= 538), tailored to decipher the effects of feedback on risk preferences. Our results indi