Behavioral and Brain Sciences



Short Communication

Why use real and hypothetical payoffs?


Anton Kühberger a1
a1 Department of Psychology, University of Salzburg, A-5020 Salzburg, Austria anton.kuehberger@sbg.ac.at www.sbg.ac.at/psy/people/kuehberger.html

Abstract

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.