A unifying interpretation of different models for the integration of information when evaluating gambles

Abstract.— Experimental results reported by Sjöberg, Anderson and Shanteau, and Tversky on the structure underlying judgments of the utility of gambles are discussed. Although the authors find different models applicable to their data, it is shown that they may all have the same theoretical basis. Differences in experimental design such as stimulus ranges and response measures used in the experiments may explain the divergent results reported earlier.