Subjective probabilities and values of socio-economic events at different degrees of uncertainty

Abstract.— The relationship between values (negative] positive) and subjective probabilities was studied. Stimuli consisted of unique socio-economic events represented in the political discussion in Finland. Uncertainty was measured as hesitation in estimating probabilities, The results indicated different relationships between values and probability estimates at different degrees of uncertainty. At certainty the relation was u-shaped, at some uncertainty the variables were nearly uncorrelated, and at uncertainty an linear relationship between values and subjective probabilities was found.