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Publications of John W. Payne    :chronological  alphabetical  combined listing:

%% Journal Articles   
@article{fds327673,
   Author = {Atlas, SA and Johnson, EJ and Payne, JW},
   Title = {Time Preferences and Mortgage Choice},
   Journal = {Journal of Marketing Research},
   Volume = {54},
   Number = {3},
   Pages = {415-429},
   Year = {2017},
   Month = {June},
   url = {http://dx.doi.org/10.1509/jmr.14.0481},
   Doi = {10.1509/jmr.14.0481},
   Key = {fds327673}
}

@article{fds319665,
   Author = {Shu, SB and Zeithammer, R and Payne, JW},
   Title = {Consumer Preferences for Annuity Attributes: Beyond Net
             Present Value},
   Journal = {Journal of Marketing Research},
   Volume = {53},
   Number = {2},
   Pages = {240-262},
   Year = {2016},
   Month = {April},
   url = {http://dx.doi.org/10.1509/jmr.13.0004},
   Doi = {10.1509/jmr.13.0004},
   Key = {fds319665}
}

@article{fds275507,
   Author = {Kwak, Y and Payne, JW and Cohen, AL and Huettel, SA},
   Title = {The Rational Adolescent: Strategic Information Processing
             during Decision Making Revealed by Eye Tracking.},
   Journal = {Cognitive Development},
   Volume = {36},
   Pages = {20-30},
   Year = {2015},
   Month = {October},
   ISSN = {0885-2014},
   url = {http://hdl.handle.net/10161/10590 Duke open
             access},
   Abstract = {Adolescence is often viewed as a time of irrational, risky
             decision-making - despite adolescents' competence in other
             cognitive domains. In this study, we examined the strategies
             used by adolescents (N=30) and young adults (N=47) to
             resolve complex, multi-outcome economic gambles. Compared to
             adults, adolescents were more likely to make conservative,
             loss-minimizing choices consistent with economic models.
             Eye-tracking data showed that prior to decisions,
             adolescents acquired more information in a more thorough
             manner; that is, they engaged in a more analytic processing
             strategy indicative of trade-offs between decision
             variables. In contrast, young adults' decisions were more
             consistent with heuristics that simplified the decision
             problem, at the expense of analytic precision. Collectively,
             these results demonstrate a counter-intuitive developmental
             transition in economic decision making: adolescents'
             decisions are more consistent with rational-choice models,
             while young adults more readily engage task-appropriate
             heuristics.},
   Doi = {10.1016/j.cogdev.2015.08.001},
   Key = {fds275507}
}

@article{fds315075,
   Author = {Soll, JB and Milkman, KL and Payne, JW},
   Title = {Outsmart Your Own Biases},
   Journal = {Harvard Business Review},
   Volume = {93},
   Number = {5},
   Pages = {64-71},
   Year = {2015},
   Month = {May},
   ISSN = {0017-8012},
   url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000353530400010&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
   Key = {fds315075}
}

@article{fds304114,
   Author = {Bettman, JR and Johnson, EJ and Payne, JW},
   Title = {Adapting to Time Constraints},
   Pages = {103-116},
   Booktitle = {Time Pressure and Stress in Human Judgment and Decision
             Making},
   Publisher = {Plenum},
   Editor = {Maule, J and Svenson, O},
   Year = {2015},
   Month = {February},
   Key = {fds304114}
}

@article{fds304111,
   Author = {Luce, MF and Payne, JW and Bettman, JR},
   Title = {The Impact of Emotional Trade-Off Difficulty on Decision
             Behavior},
   Booktitle = {Conflict and Tradeoffs in Decision Making: Essays in Honor
             of Jane Beattie},
   Editor = {Loomes, G and Baron, J},
   Year = {2015},
   Month = {January},
   Key = {fds304111}
}

@article{fds304112,
   Author = {Luce, MF and Bettman, J and Payne, JW},
   Title = {Minimizing Negative Emotion as a Decision Goal:
             Investigating Emotional Trade-off Difficulty},
   Booktitle = {The Why of Consumption},
   Editor = {Huffman, and Mick, and Ratneshwar},
   Year = {2015},
   Month = {January},
   Key = {fds304112}
}

@article{fds304113,
   Author = {Luce, MF and Payne, JW and Bettman, JR and Johnson,
             EW},
   Title = {An Information Processing Perspective on
             Choice},
   Volume = {32},
   Pages = {137-175},
   Booktitle = {Decision Making from a Cognitive Perspective: Psychology of
             Learning and Motivation},
   Publisher = {Academic Press},
   Editor = {Busemeyer, JR and Hastie, R and Medin, DL},
   Year = {2015},
   Month = {January},
   Key = {fds304113}
}

@article{fds275533,
   Author = {Venkatraman, V and Payne, JW and Huettel, SA},
   Title = {An overall probability of winning heuristic for complex
             risky decisions: Choice and eye fixation
             evidence},
   Journal = {Organizational Behavior and Human Decision
             Processes},
   Volume = {125},
   Number = {2},
   Pages = {73-87},
   Year = {2014},
   Month = {November},
   ISSN = {0749-5978},
   url = {http://dx.doi.org/10.1016/j.obhdp.2014.06.003},
   Abstract = {© 2014 Elsevier Inc. When faced with multi-outcome gambles
             involving possibilities of both gains and losses, people
             often use a simple heuristic that maximizes the overall
             probability of winning (Pwin). Across three different
             studies, using choice data as well as process data from eye
             tracking, we demonstrate that the Pwin heuristic is a
             frequently used strategy for decisions involving complex
             (multiple outcome) mixed gambles. Crucially, we show
             systematic contextual and individual differences in the use
             of Pwin heuristic. We discuss the implication of these
             findings in the context of the broader debate about single
             versus multiple strategies in risky choice, and the need to
             extend the study of risky decision making from simple to
             more complex gambles.},
   Doi = {10.1016/j.obhdp.2014.06.003},
   Key = {fds275533}
}

@article{fds275535,
   Author = {Venkatraman, V and Payne, JW and Huettel, SA},
   Title = {An overall probability of winning heuristic for complex
             risky decisions: Choice and eye fixation
             evidence},
   Journal = {Organizational Behavior and Human Decision
             Processes},
   Volume = {125},
   Number = {2},
   Pages = {73-87},
   Year = {2014},
   Month = {November},
   ISSN = {0749-5978},
   url = {http://dx.doi.org/10.1016/j.obhdp.2014.06.003},
   Doi = {10.1016/j.obhdp.2014.06.003},
   Key = {fds275535}
}

@article{fds275534,
   Author = {Huber, J and Payne, JW and Puto, CP},
   Title = {Let's Be Honest About the Attraction Effect},
   Journal = {Journal of Marketing Research},
   Volume = {51},
   Number = {4},
   Pages = {520-525},
   Year = {2014},
   Month = {August},
   ISSN = {0022-2437},
   url = {http://dx.doi.org/10.1509/jmr.14.0208},
   Doi = {10.1509/jmr.14.0208},
   Key = {fds275534}
}

@article{fds315076,
   Author = {Soll, JB and Milkman, KL and Payne, JW},
   Title = {A User's Guide to Debiasing},
   Year = {2014},
   Month = {June},
   Abstract = {Decades of research have yielded an array of debiasing
             strategies that can improve judgments and decisions across a
             wide range of settings in fields such as business, medicine,
             and policy. And, of course, debiasing strategies can improve
             our personal decisions as well. The purpose of this chapter
             is to provide a guide to these strategies. We begin with a
             brief discussion of the sources of bias in decision making.
             It helps to know how poor decisions arise in order to
             generate insights about how to improve them. This discussion
             is followed by a section on decision readiness which refers
             to whether an individual is in a position to make a good
             decision in a particular situation. Intense emotional
             states, fatigue, and poor decision-related skills (e.g.,
             being innumerate) can all contribute to a lack of decision
             readiness. We then turn to a review of debiasing techniques,
             organized according to whether they modify the person or the
             environment. We close with a discussion of six
             considerations in choosing which debiasing method to
             apply.},
   Key = {fds315076}
}

@article{fds275537,
   Author = {Payne, JW and Sagara, N and Shu, SB and Appelt, KC and Johnson,
             EJ},
   Title = {Life expectancy as a constructed belief: Evidence of a
             live-to or die-by framing effect},
   Journal = {Journal of Risk and Uncertainty},
   Volume = {46},
   Number = {1},
   Pages = {27-50},
   Year = {2013},
   ISSN = {0895-5646},
   url = {http://dx.doi.org/10.1007/s11166-012-9158-0},
   Abstract = {Life expectations are essential inputs for many important
             personal decisions. We propose that longevity beliefs are
             responses constructed at the time of judgment, subject to
             irrelevant task and context factors, and leading to
             predictable biases. Specifically, we examine whether life
             expectancy is affected by the framing of expectations
             questions as either live-to or die-by, as well as by factors
             that actually affect longevity such as age, gender, and
             self-reported health. We find that individuals in a live-to
             frame report significantly higher chances of being alive at
             ages 55 through 95 than people in a corresponding die-by
             frame. Estimated mean life expectancies across three studies
             and 2300 respondents were 7. 38 to 9. 17 years longer when
             solicited in a live-to frame. We are additionally able to
             show how this framing works on a process level and how it
             affects preference for life annuities. Implications for
             models of financial decision making are discussed. © 2012
             Springer Science+Business Media New York.},
   Doi = {10.1007/s11166-012-9158-0},
   Key = {fds275537}
}

@article{fds275578,
   Author = {Simonson, I and Bettman, JR and Kramer, T and Payne,
             JW},
   Title = {Directions for judgment and decision making research based
             on comparison selection: Reply to Arkes, Johnson, and
             Kardes},
   Journal = {Journal of Consumer Psychology},
   Volume = {23},
   Number = {1},
   Pages = {161-163},
   Year = {2013},
   ISSN = {1057-7408},
   url = {http://dx.doi.org/10.1016/j.jcps.2012.10.006},
   Abstract = {Our target article proposed an alternative perspective for
             studying consumer judgment and decision making, focusing on
             the types and weights of comparisons consumers select. In
             this response we consider the major points made by each of
             the commentators and examine their implications for future
             work addressing our comparison-focused approach. © 2012
             Society for Consumer Psychology.},
   Doi = {10.1016/j.jcps.2012.10.006},
   Key = {fds275578}
}

@article{fds275579,
   Author = {Simonson, I and Bettman, JR and Kramer, T and Payne,
             JW},
   Title = {Comparison selection: An approach to the study of consumer
             judgment and choice},
   Journal = {Journal of Consumer Psychology},
   Volume = {23},
   Number = {1},
   Pages = {137-149},
   Year = {2013},
   ISSN = {1057-7408},
   url = {http://dx.doi.org/10.1016/j.jcps.2012.10.002},
   Abstract = {We introduce an alternative perspective on the study of
             consumer judgment and decision making, which is based on the
             notion that judgment and choice problems consist of
             comparisons that decision makers might select. Our new
             perspective proposes that if we can predict the likelihood
             that particular comparisons will become focal in a judgment
             or choice task, we will be able to gain a better
             understanding of and anticipate the resulting effect.
             Building on related literatures, we propose that comparison
             selection is driven by the task's latitude of acceptance
             (LOA) and comparison fluency (i.e., the overall ease of
             making that comparison). The task's LOA curve represents the
             range and concentration of potentially acceptable
             comparisons, whereas comparison fluency refers to the
             salience and ease of making the comparison. We illustrate
             our approach using previously studied problems (e.g.,
             choice, variety seeking, the "jacket and calculator"
             problem, and contingent valuation) as well as new empirical
             tests. © 2012 Society for Consumer Psychology.},
   Doi = {10.1016/j.jcps.2012.10.002},
   Key = {fds275579}
}

@article{fds275558,
   Author = {Johnson, EJ and Shu, SB and Dellaert, BGC and Fox, C and Goldstein, DG and Häubl, G and Larrick, RP and Payne, JW and Peters, E and Schkade, D and Wansink, B and Weber, EU},
   Title = {Beyond nudges: Tools of a choice architecture},
   Journal = {Marketing Letters},
   Volume = {23},
   Number = {2},
   Pages = {487-504},
   Year = {2012},
   Month = {June},
   ISSN = {0923-0645},
   url = {http://dx.doi.org/10.1007/s11002-012-9186-1},
   Abstract = {The way a choice is presented influences what a
             decision-maker chooses. This paper outlines the tools
             available to choice architects, that is anyone who present
             people with choices. We divide these tools into two
             categories: those used in structuring the choice task and
             those used in describing the choice options. Tools for
             structuring the choice task address the idea of what to
             present to decision-makers, and tools for describing the
             choice options address the idea of how to present it. We
             discuss implementation issues in using choice architecture
             tools, including individual differences and errors in
             evaluation of choice outcomes. Finally, this paper presents
             a few applications that illustrate the positive effect
             choice architecture can have on real-world decisions. ©
             2012 Springer Science+Business Media, LLC.},
   Doi = {10.1007/s11002-012-9186-1},
   Key = {fds275558}
}

@article{fds275554,
   Author = {Payne, JW and Sagara, N and Shu, SB and Appelt, KC and Johnson,
             EJ},
   Title = {Life expectancy as a constructed belief: Evidence of a
             live-to or die-by framing effect},
   Journal = {Journal of Risk and Uncertainty},
   Pages = {1-24},
   Year = {2012},
   ISSN = {0895-5646},
   url = {http://dx.doi.org/10.1007/s11166-012-9158-0},
   Abstract = {Life expectations are essential inputs for many important
             personal decisions. We propose that longevity beliefs are
             responses constructed at the time of judgment, subject to
             irrelevant task and context factors, and leading to
             predictable biases. Specifically, we examine whether life
             expectancy is affected by the framing of expectations
             questions as either live-to or die-by, as well as by factors
             that actually affect longevity such as age, gender, and
             self-reported health. We find that individuals in a live-to
             frame report significantly higher chances of being alive at
             ages 55 through 95 than people in a corresponding die-by
             frame. Estimated mean life expectancies across three studies
             and 2300 respondents were 7.38 to 9.17 years longer when
             solicited in a live-to frame. We are additionally able to
             show how this framing works on a process level and how it
             affects preference for life annuities. Implications for
             models of financial decision making are discussed. © 2012
             Springer Science+Business Media New York.},
   Doi = {10.1007/s11166-012-9158-0},
   Key = {fds275554}
}

@article{fds275532,
   Author = {Venkatraman, V and Payne, JW and Huettel, SA},
   Title = {Neuroeconomics of risky decisions: From variables to
             strategies},
   Booktitle = {Decision Making, Affect, and Learning: Attention and
             Performance XXIII},
   Year = {2011},
   Month = {May},
   ISBN = {9780191725623},
   url = {http://dx.doi.org/10.1093/acprof:oso/9780199600434.003.0007},
   Abstract = {© The International Association for the study of Attention
             and Performance, 2011. All rights reserved. We make a
             variety of decisions throughout our lives. Some decisions
             involve outcomes whose values can be readily compared,
             especially when those outcomes are simple, immediate, and
             familiar. Other decisions involve imperfect knowledge about
             their potential consequences. Understanding the choice
             process when consequences are uncertain - often called the
             study of decision making under risk - remains a key goal of
             behavioural economics, cognitive psychology, and now
             neuroscience. An ongoing challenge, however, lies in the
             substantial individual differences in how people approach
             risky decisions. Using a novel choice paradigm, this chapter
             demonstrates that people vary in whether they adopt
             compensatory rules (i.e., tradeoffs between decision
             variables) or noncompensatory rules (i.e., a simplification
             of the choice problem) in economic decision making. The
             chapter shows that distinct neural mechanisms support
             variability in choices and variability in strategic
             preferences. Specifically, compensatory choices are
             associated with activation in the anterior insula and the
             ventromedial prefrontal cortex, while noncompensatory
             choices are associated with increased activ ation in the
             dorsolateral prefrontal cortex and the posterior parietal
             cortex. The dorsomedial prefrontal cortex shaped decision
             making at a strategic level through its functional
             connectivity with these regions. Individual-difference
             analyses are a key direction through which neuroscience can
             influence models of choice behaviour.},
   Doi = {10.1093/acprof:oso/9780199600434.003.0007},
   Key = {fds275532}
}

@article{fds275560,
   Author = {Venkatraman, V and Huettel, SA and Chuah, LYM and Payne, JW and Chee,
             MWL},
   Title = {Sleep deprivation biases the neural mechanisms underlying
             economic preferences.},
   Journal = {The Journal of Neuroscience : the Official Journal of the
             Society for Neuroscience},
   Volume = {31},
   Number = {10},
   Pages = {3712-3718},
   Year = {2011},
   Month = {March},
   url = {http://www.ncbi.nlm.nih.gov/pubmed/21389226},
   Abstract = {A single night of sleep deprivation (SD) evoked a strategy
             shift during risky decision making such that healthy human
             volunteers moved from defending against losses to seeking
             increased gains. This change in economic preferences was
             correlated with the magnitude of an SD-driven increase in
             ventromedial prefrontal activation as well as by an
             SD-driven decrease in anterior insula activation during
             decision making. Analogous changes were observed during
             receipt of reward outcomes: elevated activation to gains in
             ventromedial prefrontal cortex and ventral striatum, but
             attenuated anterior insula activation following losses.
             Finally, the observed shift in economic preferences was not
             correlated with change in psychomotor vigilance. These
             results suggest that a night of total sleep deprivation
             affects the neural mechanisms underlying economic
             preferences independent of its effects on vigilant
             attention.},
   Doi = {10.1523/jneurosci.4407-10.2011},
   Key = {fds275560}
}

@article{fds275508,
   Author = {Payne, JW and Venkatraman, V},
   Title = {Opening the Blackbox: Process Tracing in Decision
             Research},
   Booktitle = {Handbook of Process Tracing Methods in Decision
             Making},
   Editor = {Shulte-Mecklenbeck, M and Kuhberger, A and Ranyard,
             R},
   Year = {2011},
   Key = {fds275508}
}

@article{fds275577,
   Author = {Venkatraman, V and Payne, JW and Bettman, JR and Luce, MF and Huettel,
             SA},
   Title = {Separate neural mechanisms underlie choices and strategic
             preferences in risky decision making.},
   Journal = {Neuron},
   Volume = {62},
   Number = {4},
   Pages = {593-602},
   Year = {2009},
   Month = {May},
   url = {http://www.ncbi.nlm.nih.gov/pubmed/19477159},
   Abstract = {Adaptive decision making in real-world contexts often relies
             on strategic simplifications of decision problems. Yet, the
             neural mechanisms that shape these strategies and their
             implementation remain largely unknown. Using an economic
             decision-making task, we dissociate brain regions that
             predict specific choices from those predicting an
             individual's preferred strategy. Choices that maximized
             gains or minimized losses were predicted by functional
             magnetic resonance imaging activation in ventromedial
             prefrontal cortex or anterior insula, respectively. However,
             choices that followed a simplifying strategy (i.e.,
             attending to overall probability of winning) were associated
             with activation in parietal and lateral prefrontal cortices.
             Dorsomedial prefrontal cortex, through differential
             functional connectivity with parietal and insular cortex,
             predicted individual variability in strategic preferences.
             Finally, we demonstrate that robust decision strategies
             follow from neural sensitivity to rewards. We conclude that
             decision making reflects more than compensatory interaction
             of choice-related regions; in addition, specific brain
             systems potentiate choices depending on strategies, traits,
             and context.},
   Doi = {10.1016/j.neuron.2009.04.007},
   Key = {fds275577}
}

@article{fds275559,
   Author = {Huettel, SA and Payne, JW},
   Title = {Integrating neural and decision sciences: Convergence and
             constraints},
   Journal = {Journal of Marketing Research},
   Volume = {46},
   Number = {1},
   Pages = {14-17},
   Year = {2009},
   ISSN = {0022-2437},
   url = {http://dx.doi.org/10.1509/jmkr.46.1.14},
   Doi = {10.1509/jmkr.46.1.14},
   Key = {fds275559}
}

@article{fds275576,
   Author = {Payne, JW and Samper, A and Bettman, JR and Luce,
             MF},
   Title = {Boundary conditions on unconscious thought in complex
             decision making.},
   Journal = {Psychological Science},
   Volume = {19},
   Number = {11},
   Pages = {1118-1123},
   Year = {2008},
   Month = {November},
   url = {http://www.ncbi.nlm.nih.gov/pubmed/19076483},
   Abstract = {Should individuals delegate thinking about complex choice
             problems to the unconscious? We tested two boundary
             conditions on this suggestion. First, we found that in a
             decision environment similar to those studied previously,
             self-paced conscious thought and unconscious thought had
             similar advantages over conscious thought constrained to a
             long fixed time interval in terms of identifying the option
             with the highest number of positive outcomes. Second, we
             found that self-paced conscious thought performed better
             than unconscious thought in a second decision environment
             where performance depended to a greater extent on magnitudes
             of the attributes. Thus, we argue that it is critical to
             take into account the interaction of forms of processing
             with task demands (choice environments) when considering how
             to approach complex choice problems.},
   Doi = {10.1111/j.1467-9280.2008.02212.x},
   Key = {fds275576}
}

@article{fds275575,
   Author = {Bettman, JR and Luce, MF and Payne, JW},
   Title = {Preference construction and preference stability: Putting
             the pillow to rest},
   Journal = {Journal of Consumer Psychology},
   Volume = {18},
   Number = {3},
   Pages = {170-174},
   Year = {2008},
   Month = {July},
   ISSN = {1057-7408},
   url = {http://dx.doi.org/10.1016/j.jcps.2008.04.003},
   Abstract = {We advocate a different approach to the important questions
             that Simonson raises regarding preference construction.
             First, we argue that existing literature both acknowledges
             and addresses preference stability. In particular, we show
             that stable preferences are not incompatible with theories
             of preference construction. We note that construction can
             influence experienced utility as well as prediction of
             preference and argue that a careful analysis of stability
             must allow for contextual influences in both these domains.
             Finally, we note that Simonson's notion of 'inherent'
             preferences is unclear, and we argue that a better way to
             take up this important challenge is through existing
             literatures providing insights into conditions leading to
             preference stability. © 2008.},
   Doi = {10.1016/j.jcps.2008.04.003},
   Key = {fds275575}
}

@article{fds275536,
   Author = {Payne, JW and Bettman, JR},
   Title = {Walking with the Scarecrow: The Information-Processing
             Approach to Decision Research},
   Pages = {110-132},
   Year = {2008},
   Month = {January},
   url = {http://dx.doi.org/10.1002/9780470752937.ch6},
   Doi = {10.1002/9780470752937.ch6},
   Key = {fds275536}
}

@article{fds275509,
   Author = {Luce, MF and Bettman, JR and Payne, JW},
   Title = {Consumer Decision Making: A Choice Goals
             Approach},
   Booktitle = {Handbook of Consumer Psychology},
   Editor = {Haugtvedt, C and Herr, P and Kardes, F},
   Year = {2008},
   Key = {fds275509}
}

@article{fds275580,
   Author = {Amaldoss, W and Bettman, JR and Payne, JW},
   Title = {Biased but efficient: An investigation of coordination
             facilitated by asymmetric dominance},
   Journal = {Marketing Science},
   Volume = {27},
   Number = {5},
   Pages = {903-921},
   Year = {2008},
   ISSN = {0732-2399},
   url = {http://dx.doi.org/10.1287/mksc.1070.0352},
   Abstract = {In several marketing contexts, strategic complementarity
             between the actions of individual players demands that
             players coordinate their decisions to reach efficient
             outcomes. Yet coordination failure is a common occurrence.
             We show that the well-established psychological phenomenon
             of asymmetric dominance can facilitate coordination in two
             experiments. Thus, we demonstrate a counterintuitive result:
             A common bias in individual decision making can help players
             to coordinate their decisions to obtain efficient outcomes.
             Further, limited steps of thinking alone cannot account for
             the observed asymmetric dominance effect. The effect appears
             to be due to increased psychological attractiveness of the
             dominating strategy, with our estimates of the incremental
             attractiveness ranging from 3%-6%. A learning analysis
             further clarifies that asymmetric dominance and adaptive
             learning can guide players to an efficient outcome. © 2008
             INFORMS.},
   Doi = {10.1287/mksc.1070.0352},
   Key = {fds275580}
}

@article{fds275574,
   Author = {Cavanaugh, LA and Bettman, JR and Luce, MF and Payne,
             JW},
   Title = {Appraising the Appraisal-Tendency Framework},
   Journal = {Journal of Consumer Psychology},
   Volume = {17},
   Number = {3},
   Pages = {169-173},
   Year = {2007},
   Month = {July},
   ISSN = {1057-7408},
   url = {http://dx.doi.org/10.1016/S1057-7408(07)70024-4},
   Abstract = {This article considers the consumer research implications of
             the Appraisal-Tendency Framework (ATF; Han, Lerner, &
             Keltner, 2007). This article outlines how the ATF approach
             could be applied to sequential consumer choices (e.g.,
             effects of emotional responses to stockouts on later
             decisions) and high-stakes decisions (e.g., medical
             decisions). This article also proposes several areas in
             which the ATF might be extended: examining complex sequences
             of choices with emotional consequences, considering how
             incidental and integral emotions interact, characterizing
             how both evaluative and regulatory mechanisms may influence
             the effects of emotion on judgment and choice, and extending
             the range of positive emotions and appraisal dimensions
             considered. Copyright © 2007, Lawrence Erlbaum Associates,
             Inc.},
   Doi = {10.1016/S1057-7408(07)70024-4},
   Key = {fds275574}
}

@article{fds275588,
   Author = {Payne, JW},
   Title = {It is whether you win or lose: The importance of the overall
             probabilities of winning or losing in risky
             choice},
   Journal = {Journal of Risk and Uncertainty},
   Volume = {30},
   Number = {1},
   Pages = {5-19},
   Year = {2005},
   url = {http://dx.doi.org/10.1007/s11166-005-5831-x},
   Abstract = {Imagine that you own a five-outcome gamble with the
             following payoffs and probabilities: ($100, .20; $50, .20;
             $0, .20; -$25, .20; -$50, .20). What happens when the
             opportunity to improve such a gamble is provided by a
             manipulation that adds value to one outcome versus another
             outcome, particularly when the opportunity to add value to
             one outcome versus another outcome changes the overall
             probability of a gain or the overall probability of a loss?
             Such a choice provides a simple test of the expected utility
             model (EU), original prospect theory (OPT), and cumulative
             prospect theory (CPT). A study of risky choices involving
             375 respondents indicates that respondents were most
             sensitive to changes in outcome values that either increased
             the overall probability of a strict gain or decreased the
             overall probability of a strict loss. These results indicate
             more support for OPT rather than CPT and EU under various
             assumptions about the shape of the utility and value and
             weighting functions. Most importantly, the main difference
             between the various expectation models of risky choice
             occurs for outcomes near the reference value. A second study
             of risky choice involving 151 respondents again demonstrated
             the sensitivity of subjects to reducing the probability of a
             strict loss even at the cost of reduced expected value.
             Consequently, we argue that theories of how people choose
             among gambles that involve three or more consequences with
             both gains and losses need to include measures of the
             overall probabilities of a gain and of a loss. © 2005
             Springer Science + Business Media, Inc.},
   Doi = {10.1007/s11166-005-5831-x},
   Key = {fds275588}
}

@article{fds315062,
   Author = {Cox, J and Payne, J},
   Title = {Mutual Fund Expense Disclosures: A Behavioral
             Perspective},
   Journal = {Washington University Law Quarterly},
   Volume = {83},
   Pages = {907-938},
   Year = {2005},
   url = {http://scholarship.law.duke.edu/faculty_scholarship/1525/},
   Key = {fds315062}
}

@article{fds275510,
   Author = {Bettman, JR and Payne, JW},
   Title = {Walking with the Scarecrow: The Information-Processing
             Approach to Decision Research},
   Pages = {110-132},
   Booktitle = {Blackwell Handbook of Judgment and Decision
             Making},
   Editor = {Koehler, D and Harvey, N},
   Year = {2004},
   Key = {fds275510}
}

@article{fds275587,
   Author = {Shiv, B and Britton, JAE and Payne, JW},
   Title = {Does elaboration increase or decrease the effectiveness of
             negatively versus positively framed messages?},
   Journal = {Journal of Consumer Research},
   Volume = {31},
   Number = {1},
   Pages = {199-208},
   Year = {2004},
   ISSN = {0093-5301},
   url = {http://dx.doi.org/10.1086/383435},
   Abstract = {A robust finding in research on message framing is that
             negatively framed messages are more (less) effective than
             positively framed ones when the level of cognitive
             elaboration is high (low). However, recent research presents
             evidence that is contrary to previous findings: negative
             framing being less (more) effective than positive framing
             when the level of elaboration is high (low). In this
             article, we attempt to resolve the conflicting findings by
             highlighting the moderating roles of motivation and
             opportunity-related variables on the effectiveness of
             negative versus positive message frames. Results from two
             experiments suggest that under conditions of low processing
             motivation, negative framing is more (less) effective than
             positive framing when the level of processing opportunity is
             low (high). Under conditions of high processing motivation,
             negative framing is more effective than positive framing,
             irrespective of the level of processing opportunity.},
   Doi = {10.1086/383435},
   Key = {fds275587}
}

@article{fds275511,
   Author = {Payne, JW and Bettman, JR},
   Title = {Choice selection},
   Booktitle = {Encyclopedia of Cognitive Science},
   Publisher = {NATURE PUBLISHING GROUP},
   Editor = {Nadel, L},
   Year = {2002},
   Key = {fds275511}
}

@article{fds275512,
   Author = {Bettman, JR and Payne, JW},
   Title = {The Emotional Nature of Decision Trade-Offs},
   Volume = {1},
   Pages = {500-504},
   Booktitle = {The Encyclopedia of Cognitive Silence},
   Publisher = {NATURE PUBLISHING GROUP},
   Editor = {Nadel, L},
   Year = {2002},
   ISBN = {0471382477},
   Abstract = {"This is a superb book that provides valuable insights
             for managers at all levels. No matter how many critical
             decisions we make, it is useful to be reminded of the
             intricacies of the process. Wharton on Making Decisions does
             just that.},
   Key = {fds275512}
}

@article{fds319666,
   Author = {Payne, JW and Luce, MF and Bettman, JR},
   Title = {The Emotional Nature of Decision Trade-offs},
   Pages = {17-35},
   Booktitle = {Wharton on Making Decisions},
   Publisher = {WILEY},
   Year = {2001},
   Month = {March},
   ISBN = {0471382477},
   Abstract = {"This is a superb book that provides valuable insights
             for managers at all levels. No matter how many critical
             decisions we make, it is useful to be reminded of the
             intricacies of the process. Wharton on Making Decisions does
             just that.},
   Key = {fds319666}
}

@article{fds39079,
   Author = {Payne, J. W. and Bettman, J. R.},
   Title = {Preferential choice and adaptive strategy
             use},
   Pages = {123-145},
   Booktitle = {Bounded Rationality: The Adapative Toolbox},
   Publisher = {M.I.T. Press},
   Editor = {G. Gigerenzer and R. Selton},
   Year = {2001},
   Key = {fds39079}
}

@article{fds275585,
   Author = {Luce, MF and Payne, JW and Bettman, JR},
   Title = {Coping with Unfavorable Attribute Values in
             Choice.},
   Journal = {Organizational Behavior and Human Decision
             Processes},
   Volume = {81},
   Number = {2},
   Pages = {274-299},
   Year = {2000},
   Month = {March},
   ISSN = {0749-5978},
   url = {http://www.ncbi.nlm.nih.gov/pubmed/10706817},
   Abstract = {This paper examines how decision makers cope when faced with
             trade-offs between a higher quality alternative and a lower
             price alternative in situations where both alternatives
             involve relatively unfavorable versus relatively favorable
             values for quality. We hypothesize that choices between
             alternatives defined by unfavorable quality values will
             generate negative emotion, resulting in emotion-focused
             coping behavior. Choosing the higher quality alternative
             (i.e., maximizing the quality attribute in choice) appears
             to function as a coping mechanism in these situations. These
             apparently coping-motivated choice effects are found even
             after methods are implemented to control for more cognitive
             factors associated with manipulations of quality-attribute
             value, such as the possibility that unfavorable attribute
             values are associated with increased attribute ranges and
             therefore increased relative importance for quality.
             Copyright 2000 Academic Press.},
   Doi = {10.1006/obhd.1999.2872},
   Key = {fds275585}
}

@article{fds39081,
   Author = {Luce, M. F. and Bettman, J. R. and Payne, J.
             W.},
   Title = {Minimizing negative emotion as a decision goat:
             Investigating emotional trade-off difficulty},
   Pages = {59-80},
   Booktitle = {The Why of Consumption},
   Publisher = {Routledge},
   Editor = {R. Ratnesway and D. Mich and C. Huffman},
   Year = {2000},
   Key = {fds39081}
}

@article{fds275584,
   Author = {Luce, MF and Bettman, JR and Payne, JW},
   Title = {Attribute Identities Matter: Subjective Perceptions of
             Attribute Characteristics},
   Journal = {Marketing Letters},
   Volume = {11},
   Number = {2},
   Pages = {103-116},
   Year = {2000},
   Abstract = {Recent research indicates that attributes vary along
             multiple dimensions with implications for how trade-offs are
             resolved during choice. We present an exploratory study of
             the dimensionality underlying naïve subjects' ratings of
             attributes on the characteristics commonly discussed in the
             literature on tradeoff resolution and decision difficulty.
             Factor analysis of attribute characteristic assessments
             indicates that subjects view decision attributes in a
             multi-dimensional fashion, including an importance/loss
             aversion dimension, an emotional potential/protection from
             tradeoffs dimension, and a cognitive difficulty dimension.
             These results suggest that a one-dimensional measure of
             attribute characteristics, such as a standard attribute
             importance rating, may obscure some factors determining
             individual responses to attributes during decision
             processing. However, the results also suggest that
             developing a relatively succinct set of scales in order to
             characterize the dimensions along which subjects respond to
             attributes is a viable goal for future research.},
   Key = {fds275584}
}

@article{fds275586,
   Author = {Payne, JW and Schkade, DA and Desvousges, WH and Aultman,
             C},
   Title = {Valuation of Multiple Environmental Programs},
   Journal = {Journal of Risk and Uncertainty},
   Volume = {21},
   Number = {1},
   Pages = {95-115},
   Year = {2000},
   Abstract = {We examined sequence effects on willingness-to-pay (WTP)
             when people evaluate a series of environmental goods. Each
             respondent evaluated five different environmental goods
             using WTP and four evaluative attitude ratings. There was a
             strong sequence effect: WTP was much larger for the first
             good than for goods evaluated afterward. Also, total WTP for
             the bundle of five goods depended on which good was
             evaluated first: the more highly valued the first good, the
             higher the total WTP for the bundle. The attitude ratings
             are shown to be more statistically efficient than WTP in
             measuring the relative importance of different environmental
             goods.},
   Key = {fds275586}
}

@article{fds275573,
   Author = {Luce, MF and Payne, JW and Bettman, JR},
   Title = {Emotional Trade-Off Difficulty and Choice},
   Journal = {Journal of Marketing Research},
   Volume = {36},
   Number = {2},
   Pages = {143-143},
   Year = {1999},
   Month = {May},
   url = {http://dx.doi.org/10.2307/3152089},
   Abstract = {In this article, the authors explore whether choice patterns
             are sensitive to the potential of relevant trade-offs to
             elicit negative emotion. Across three experiments, decision
             makers increasingly use a choice strategy that maximizes
             quality at the expense of some currency (usually price) when
             the quality attribute is rated as more inherently
             emotion-laden (Experiment 1) or involves losses rather than
             gains (Experiments 2 and 3). These emotional trade-off
             difficulty effects on choice are obtained even after
             controlling for effects that are attributable to subjects'
             relative importance weights for the quality versus currency
             attributes. A fourth experiment validates that tasks
             requiring losses (versus gains) on quality attributes are
             assessed as particularly emotion-laden by naïve subjects.
             Overall, it appears that coping with potentially
             emotion-laden choice trade-offs is one factor influencing
             consumer choice strategies. Thus, emotional trade-off
             difficulty is a factor that marketers should consider when
             attempting to predict and explain consumer choice patterns.
             These conclusions are consistent with recent research that
             argues that avoiding or otherwise coping with negative
             emotion is an important goal that guides decision behavior
             (e.g., Larrick 1993; Luce, Bettman, and Payne 1997; Simonson
             1992).},
   Doi = {10.2307/3152089},
   Key = {fds275573}
}

@article{fds275513,
   Author = {Bettman, JR and Payne, JW},
   Title = {Preferential Choice and Adaptive Strategy
             Use},
   Pages = {113-114},
   Booktitle = {Bounded Rationality: The Adaptive Toolbox},
   Publisher = {M I T PRESS},
   Editor = {Gigerenzer, G and Selten, R},
   Year = {1999},
   Key = {fds275513}
}

@article{fds275581,
   Author = {Hastie, R and Schakde, DA and Payne, JW},
   Title = {Juror judgments in civil cases: Hindsight effects on
             liability judgments for punative damages},
   Journal = {Law and Human Behavior},
   Volume = {23},
   Number = {5},
   Pages = {597-614},
   Year = {1999},
   ISSN = {0147-7307},
   url = {http://dx.doi.org/10.1023/A:1022352330466},
   Abstract = {An experiment was conducted to investigate whether hindsight
             bias influences an important class of legal decisions -
             civil jurors' judgments of liability for punitive damages.
             Jury-eligible citizens were shown a videotaped summary of
             the circumstances surrounding an environmental damage
             lawsuit. Some subjects were presented a foresight
             perspective and asked to judge whether or not a railroad
             should comply with an order to stop operations on a section
             of track that had been declared hazardous. Other subjects
             were asked to judge whether the railroad was liable for
             punitive damages after an accident occurred. Three
             independent variables were manipulated: temporal perspective
             with one third of the subjects assessing risks in foresight
             and two thirds assessing risks in hindsight; subject role
             with one half of the subjects asked to assume the role of a
             juror rendering a verdict and one half the role of a citizen
             whose personal opinion was solicited; and, in the hindsight
             conditions only, the amount of damage ($240,000 vs.
             $24,000,000) caused by the accident. Almost all measures of
             participants' judgments and thoughts about the case showed
             dramatic foresight-hindsight differences. The participants'
             role had an effect on some measures; for example,
             participants in the juror role exhibited slightly smaller
             hindsight effects when judging liability than did those in
             the citizen role. The magnitude of the damage caused by the
             accident had no effects on any measures.},
   Doi = {10.1023/A:1022352330466},
   Key = {fds275581}
}

@article{fds275582,
   Author = {Payne, JW and Bettman, JR and Schkade, DA},
   Title = {Measuring Constructed Preferences: Towards a Building
             Code},
   Journal = {Journal of Risk and Uncertainty},
   Volume = {19},
   Number = {1-3},
   Pages = {243-270},
   Year = {1999},
   Abstract = {A "building code" for preference measurement is needed in a
             world in which many expressions of preference are
             constructed when people are asked a valuation question.
             Construction of preferences means that preference
             measurement is best viewed as architecture (building a set
             of values) rather than as archaeology (uncovering existing
             values). We describe potential faults in the process of
             preference construction, offer guidelines for measuring
             constructed preferences (a "building code") to mitigate
             these faults, and discuss how the code must be sensitive to
             the purpose of the valuation (design vs.
             prediction).},
   Key = {fds275582}
}

@article{fds275583,
   Author = {Hastie, R and Schkade, DA and Payne, JW},
   Title = {Reply to Vidmar},
   Journal = {Law and Human Behavior},
   Volume = {23},
   Pages = {715-718},
   Year = {1999},
   Key = {fds275583}
}

@article{fds304937,
   Author = {Hastie, R and Schkade, DA and Payne, JW},
   Title = {Juror judgments in civil cases: Effects of plaintiff's
             requests and plaintiff's identity on punitive damage
             awards.},
   Journal = {Law and Human Behavior},
   Volume = {23},
   Number = {4},
   Pages = {445-470},
   Year = {1999},
   ISSN = {0147-7307},
   url = {http://dx.doi.org/10.1023/A:1022312115561},
   Abstract = {Two experiments were conducted to study the manner in which
             civil jurors assess punitive damage awards. Jury-eligible
             citizens were shown a videotaped summary of an environmental
             damage lawsuit and told that the defendant had already paid
             compensatory damages. They were asked to judge liability for
             punitive damages and, if damages were to be assessed, to
             assign a dollar award. Three independent variables were
             manipulated in the case materials: the dollar amounts that
             were explicitly requested by the plaintiffs in their closing
             arguments to the jury, the geographical location of the
             defendant corporation, and the location of the lead
             plaintiff. Consistent with prior findings of anchor effects
             on judgments, we found that the plaintiff's requested award
             values had a dramatic effect on awards: the higher the
             request, the higher the awards. We also found that local
             plaintiffs were awarded more than were geographically remote
             plaintiffs, while the location of the defendant company did
             not have reliable effects on the awards. The implications of
             these results for procedures in civil trials and for
             theories of juror decision making are discussed.},
   Doi = {10.1023/A:1022312115561},
   Key = {fds304937}
}

@article{fds304938,
   Author = {Hastie, R and Schkade, DA and Payne, JW},
   Title = {Juror judgments in civil cases: Hindsight effects on
             judgments of liability for punitive damages.},
   Journal = {Law and Human Behavior},
   Volume = {23},
   Number = {5},
   Pages = {597-614},
   Year = {1999},
   ISSN = {0147-7307},
   url = {http://dx.doi.org/10.1023/A:1022352330466},
   Abstract = {An experiment was conducted to investigate whether hindsight
             bias influences an important class of legal decisions -
             civil jurors' judgments of liability for punitive damages.
             Jury-eligible citizens were shown a videotaped summary of
             the circumstances surrounding an environmental damage
             lawsuit. Some subjects were presented a foresight
             perspective and asked to judge whether or not a railroad
             should comply with an order to stop operations on a section
             of track that had been declared hazardous. Other subjects
             were asked to judge whether the railroad was liable for
             punitive damages after an accident occurred. Three
             independent variables were manipulated: temporal perspective
             with one third of the subjects assessing risks in foresight
             and two thirds assessing risks in hindsight; subject role
             with one half of the subjects asked to assume the role of a
             juror rendering a verdict and one half the role of a citizen
             whose personal opinion was solicited; and, in the hindsight
             conditions only, the amount of damage ($240,000 vs.
             $24,000,000) caused by the accident. Almost all measures of
             participants' judgments and thoughts about the case showed
             dramatic foresight-hindsight differences. The participants'
             role had an effect on some measures; for example,
             participants in the juror role exhibited slightly smaller
             hindsight effects when judging liability than did those in
             the citizen role. The magnitude of the damage caused by the
             accident had no effects on any measures.},
   Doi = {10.1023/A:1022352330466},
   Key = {fds304938}
}

@article{fds275572,
   Author = {Bettman, J and Luce, M and Payne, J},
   Title = {Constructive Consumer Choice Processes},
   Journal = {Journal of Consumer Research},
   Volume = {25},
   Number = {3},
   Pages = {187-217},
   Year = {1998},
   Month = {December},
   url = {http://dx.doi.org/10.1086/209535},
   Abstract = {Consumer decision making has been a focal interest in
             consumer research, and consideration of current marketplace
             trends (e.g., technological change, an information
             explosion) indicates that this topic will continue to be
             critically important. We argue that consumer choice is
             inherently constructive. Due to limited processing capacity,
             consumers often do not have well-defined existing
             preferences, but construct them using a variety of
             strategies contingent on task demands. After describing
             constructive choice, consumer decision tasks, and decision
             strategies, we provide an integrative framework for
             understanding constructive choice, review evidence for
             constructive consumer choice in light of that framework, and
             identify knowledge gaps that suggest opportunities for
             additional research.},
   Doi = {10.1086/209535},
   Key = {fds275572}
}

@article{fds275550,
   Author = {Hastie, R and Schkade, DA and Payne, JW},
   Title = {A study of juror and jury judgments in civil cases: Deciding
             liability for punitive damages},
   Journal = {Law and Human Behavior},
   Volume = {22},
   Number = {3},
   Pages = {287-314},
   Year = {1998},
   ISSN = {0147-7307},
   url = {http://dx.doi.org/10.1023/A:1025754422703},
   Abstract = {A study was conducted to investigate civil juries' decisions
             concerning defendants' liability for punitive damages in
             tort cases. A total of 121 six- member mock juries composed
             of jury-service-eligible citizens were presented summaries
             of previously decided cases and given a comprehensive
             instruction on the defendant's liability for punitive
             damages. Most of the mock juries decided that the
             consideration of punitive damages was warranted, although
             appellate and trial judges had concluded that they were not
             warranted. The tendency to find the defendant liable was
             partly due to jurors' failure systematically to consider the
             full set of legally necessary conditions for the verdicts
             they rendered. Individual differences in the jurors'
             backgrounds were not strongly related to their verdicts;
             income and ethnicity were weakly related to judgments. The
             social processes in deliberation on civil juries were
             similar to the dynamics of deliberation that have been
             observed in criminal juries.},
   Doi = {10.1023/A:1025754422703},
   Key = {fds275550}
}

@article{fds275551,
   Author = {Coupey, E and Irwin, JR and Payne, JW},
   Title = {Product category familiarity and preference
             construction},
   Journal = {Journal of Consumer Research},
   Volume = {24},
   Number = {4},
   Pages = {459-468},
   Year = {1998},
   Abstract = {Marketers often base decisions about marketing strategies on
             the results of research designed to elicit information about
             consumers' preferences. A large body of research indicates,
             however, that preferences often are labile. That is,
             preferences can be reversed depending on factors such as how
             the preference is elicited. In three studies, we examine the
             effect of familiarity in two preference-elicitation tasks,
             choice and matching judgments. We provide evidence of an
             interaction between familiarity and response mode (choice or
             matching) in each study. In study 3, we test the explanation
             that preference reversals may occur when the interaction of
             response mode with product-category familiarity leads to
             systematic changes in attribute weighting.},
   Key = {fds275551}
}

@article{fds315063,
   Author = {Payne, JW and Bettman, JR and Luce, MF},
   Title = {Behavioral Decision Research: An Overview},
   Pages = {303-359},
   Booktitle = {Measurement, Judgment, and Decision Making},
   Publisher = {Elsevier},
   Year = {1998},
   ISBN = {0120999757},
   Abstract = {Any psychologist who manipulates an independent variable
             that affects a psychological construct or who uses a
             numerical dependent variable to measure a psychological
             construct will want to study this book.},
   Key = {fds315063}
}

@article{fds275571,
   Author = {Luce, MF and Bettman, JR and Payne, JW},
   Title = {Choice processing in emotionally difficult
             decisions.},
   Journal = {Journal of Experimental Psychology. Learning, Memory, and
             Cognition},
   Volume = {23},
   Number = {2},
   Pages = {384-405},
   Year = {1997},
   Month = {March},
   ISSN = {0278-7393},
   url = {http://www.ncbi.nlm.nih.gov/pubmed/9080010},
   Abstract = {Choice conflicts between one's important values may cause
             negative emotion. This article extends the standard
             effort-accuracy approach to explaining task influences on
             decision processing by arguing that coping goals will
             interact with effort minimization and accuracy maximization
             goals for negatively emotion-laden decision tasks. These
             coping goals may involve both a desire to process in a
             thorough, accurate manner and a desire to avoid particularly
             distressing aspects of processing. On the basis of this
             extended framework, the authors hypothesized and found in 3
             experiments that decision processing under increasing
             negative emotion both becomes more extensive and proceeds
             more by focusing on one attribute at a time. In particular,
             increased negative emotion leads to more attribute-based
             processing at the beginning of the decision process. The
             results are inconsistent with views that negative emotion
             acts only as an incentive or only as a source of decision
             complexity.},
   Doi = {10.1037//0278-7393.23.2.384},
   Key = {fds275571}
}

@article{fds275561,
   Author = {Shiv, B and Edell, JA and Payne, JW},
   Title = {Factors affecting the impact of negatively and positively
             framed ad messages},
   Journal = {Journal of Consumer Research},
   Volume = {24},
   Number = {3},
   Pages = {285-294},
   Year = {1997},
   Abstract = {This article examines the effects of negative and positive
             framing of ad claims on consumers' choices and attitudes.
             Propositions about how the extent of processing before
             choice affects the relative impact of claims-related versus
             advertising tactics-related cognitions are tested in three
             experiments. Findings suggest that when processing is
             limited, claims-related cognitions have a greater impact on
             choice, which results in the sponsoring brand being chosen
             more often when the ad claims are negatively framed than
             when they are positively framed. When respondents engage in
             more extensive processing before choice, tactics-related
             cognitions become more accessible and, if perceived to be
             unfair, result in an attenuation of the advantage of
             negative framing over positive framing. A different pattern
             of results is obtained when one examines brand attitudes
             rather than brand choice.},
   Key = {fds275561}
}

@article{fds275514,
   Author = {Payne, JW},
   Title = {The Scarecrow's search: A cognitive psychologist's
             perspective on organizational decision making},
   Pages = {353-374},
   Booktitle = {Organizational Decision Making},
   Publisher = {Cambridge University Press},
   Editor = {Shapira, Z},
   Year = {1996},
   Key = {fds275514}
}

@article{fds275570,
   Author = {Payne, JW and Bettman, JR and Luce, MF},
   Title = {When time is money: Decision behavior under opportunity-cost
             time pressure},
   Journal = {Organizational Behavior and Human Decision
             Processes},
   Volume = {66},
   Number = {2},
   Pages = {131-152},
   Year = {1996},
   url = {http://dx.doi.org/10.1006/obhd.1996.0044},
   Abstract = {Decison-making dilemmas can arise because errors may result
             either from deciding too soon or from delaying decisions too
             long. Delay can result in lost opportunities or reductions
             in payoffs from the most accurate decision. This paper
             investigates decision processes in environments where there
             is time stress due to the opportunity cost of delaying
             decisions. First, using computer simulation, the relative
             accuracy of alternative decision strategies is examined in
             environments that differ in terms of the levels of
             opportunity cost of delay. The lexicographic choice rule is
             shown to be a very attractive decision process in situations
             where there is opportunity-cost time pressure. Two
             experiments test the adaptivity of actual decision behavior
             to the presence or absence of opportunity-cost time pressure
             along with variations in goals (accuracy emphasized vs.
             effort savings emphasized), dispersion in probabilities or
             weights across the outcomes of the choice options, and the
             degree of correlation among the outcomes. Subjects were
             generally adaptive to opportunity-cost time pressure.
             However, failures in adaptivity were identified when choice
             environment properties with conflicting implications for
             adaptation were present simultaneously. In particular, under
             opportunity-cost time pressure, subjects received a lower
             expected payoff when the goal was to emphasize choice
             accuracy than when the goal was to emphasize savings in
             effort. The question of when adaptivity in decision making
             might fail is discussed, © 1996 Academic Press,
             Inc.},
   Doi = {10.1006/obhd.1996.0044},
   Key = {fds275570}
}

@article{fds275506,
   Author = {Bingham, G and Bishop, R and Brody, M and Bromley, D and Clark, ET and Cooper, W and Costanza, R and Hale, T and Hayden, G and Kellert, S and Norgaard, R and Norton, B and Payne, J and Russell, C and Suter,
             G},
   Title = {Issues in ecosystem valuation: improving information for
             decision making},
   Journal = {Ecological Economics},
   Volume = {14},
   Number = {2},
   Pages = {73-90},
   Year = {1995},
   Month = {August},
   ISSN = {0921-8009},
   url = {http://dx.doi.org/10.1016/0921-8009(95)00021-Z},
   Doi = {10.1016/0921-8009(95)00021-Z},
   Key = {fds275506}
}

@article{fds275549,
   Author = {Smith, VK and Desvousges, WH and Payne, JW},
   Title = {Do risk information programs promote mitigating
             behavior?},
   Journal = {Journal of Risk and Uncertainty},
   Volume = {10},
   Number = {3},
   Pages = {203-221},
   Year = {1995},
   ISSN = {0895-5646},
   url = {http://dx.doi.org/10.1007/BF01207551},
   Abstract = {This article reports the results of a panel study
             investigating the effects of different radon risk
             information booklets on households' decisions to undertake
             mitigation. Multinomial logit models are used to describe
             how differences in the design of the information booklets
             along with the radon readings affected the choice to
             undertake some type of mitigation. To our knowledge this
             study offers the first example where a large sample was
             presented with different risk information concerning real
             risks that they were experiencing, and the research design
             permitted their risk perceptions and mitigation decisions to
             be tracked over time. Prescriptive messages along with
             emphasis on a radon threshold for action as part of the risk
             information seem to increase the likelihood of mitigating
             actions. © 1995 Kluwer Academic Publishers.},
   Doi = {10.1007/BF01207551},
   Key = {fds275549}
}

@article{fds275568,
   Author = {Payne, JW and Bettman, JR and Johnson, EJ and Luce,
             MF},
   Title = {An Information Processing Perspective on
             Choice},
   Journal = {Psychology of Learning and Motivation - Advances in Research
             and Theory},
   Volume = {32},
   Number = {C},
   Pages = {137-175},
   Year = {1995},
   ISSN = {0079-7421},
   url = {http://dx.doi.org/10.1016/S0079-7421(08)60309-6},
   Doi = {10.1016/S0079-7421(08)60309-6},
   Key = {fds275568}
}

@article{fds315064,
   Author = {Payne, JW and Bettman, JR and Johnson, EJ},
   Title = {A Perspective on Using Computers to Monitor Information
             Acquisition},
   Journal = {Advances in Consumer Research},
   Volume = {22},
   Pages = {49-51},
   Publisher = {Association for Consumer Research; 1999},
   Year = {1995},
   ISSN = {0098-9258},
   Key = {fds315064}
}

@article{fds315576,
   Author = {Payne, JW},
   Title = {Thinking Aloud: Insights Into Information
             Processing},
   Journal = {Psychological Science},
   Volume = {5},
   Number = {5},
   Pages = {241-248},
   Year = {1994},
   Month = {September},
   ISSN = {0956-7976},
   url = {http://dx.doi.org/10.1111/j.1467-9280.1994.tb00620.x},
   Doi = {10.1111/j.1467-9280.1994.tb00620.x},
   Key = {fds315576}
}

@article{fds315065,
   Author = {PAYNE, JW and BETTMAN, JR},
   Title = {THE COSTS AND BENEFITS OF ALTERNATIVE MEASURES OF SEARCH
             BEHAVIOR - COMMENTS},
   Journal = {Journal of Behavioral Decision Making},
   Volume = {7},
   Number = {2},
   Pages = {119-122},
   Year = {1994},
   Month = {June},
   ISSN = {0894-3257},
   url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1994NG86600003&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
   Doi = {10.1002/bdm.3960070204},
   Key = {fds315065}
}

@article{fds275548,
   Author = {Schkade, DA and Payne, JW},
   Title = {How People Respond to Contingent Valuation Questions: A
             Verbal Protocol Analysis of Willingness to Pay for an
             Environmental Regulation},
   Journal = {Journal of Environmental Economics and Management},
   Volume = {26},
   Number = {1},
   Pages = {88-109},
   Year = {1994},
   ISSN = {0095-0696},
   url = {http://dx.doi.org/10.1006/jeem.1994.1006},
   Abstract = {This paper investigates what a respondent is thinking when
             answering a willingness-to-pay question in a contingent
             valuation, using a "think aloud" technique from psychology
             called verbal protocol analysis. The willingness-to-pay
             responses we observed seem to be constructed from a variety
             of considerations, including an obligation to pay a fair
             share of the cost of the solution and signaling concern for
             a larger set of environmental issues. The finding that
             respondents seem to construct their values at the time they
             are asked, rather than reporting a more well-defined value,
             is seen as consistent with over two decades of research on
             the psychology of decision making. Potential uses of verbal
             protocols in contingent valuation studies are also
             discussed. © 1994 Academic Press. All rights
             reserved.},
   Doi = {10.1006/jeem.1994.1006},
   Key = {fds275548}
}

@article{fds275515,
   Author = {Bettman, JR and Payne, JW and Johnson, EJ},
   Title = {The Use of Multiple Strategies in Judgment and
             Choice},
   Pages = {19-39},
   Booktitle = {Individual and Group Decision Making},
   Publisher = {Lawrence Erlbaum Associates},
   Editor = {Castellan, NJ},
   Year = {1993},
   Key = {fds275515}
}

@article{fds275569,
   Author = {Bettman, JR and Johnson, EJ and Luce, MF and Payne,
             JW},
   Title = {Correlation, Conflict, and Choice},
   Journal = {Journal of Experimental Psychology. Learning, Memory, and
             Cognition},
   Volume = {19},
   Number = {4},
   Pages = {931-951},
   Year = {1993},
   ISSN = {0278-7393},
   Abstract = {We examined the degree to which individuals adapt their
             decision processes to the degree of interattribute
             correlation and conflict characterizing a decision problem.
             On the basis of an effort-accuracy framework for adaptive
             decision making, we predicted that the more negatively
             correlated the attribute structure, the more people will use
             strategies that process much of the relevant information and
             make trade-offs. A computer simulation study supported these
             predictions, and two experiments using process-tracing
             techniques to monitor information acquisition indicated that
             individuals did indeed respond to interattribute correlation
             by shifting their processing strategies in ways that are
             adaptive according to the effort-accuracy framework. In
             particular, they faced conflict rather than avoided it and
             generally processed more information, were less selective,
             and showed more alternative-based processing in negatively
             correlated environments.},
   Key = {fds275569}
}

@article{fds275566,
   Author = {Payne, JW and Bettman, JR and Coupey, E and Johnson,
             EJ},
   Title = {A constructive process view of decision making: Multiple
             strategies in judgment and choice},
   Journal = {Acta Psychologica},
   Volume = {80},
   Number = {1-3},
   Pages = {107-141},
   Year = {1992},
   Month = {August},
   ISSN = {0001-6918},
   url = {http://dx.doi.org/10.1016/0001-6918(92)90043-D},
   Abstract = {A viewpoint that has recently emerged in decision research
             is that preferences for objects of any complexity are often
             constructed - not merely revealed - in generating a response
             to a judgement or choice task. This paper reviews a program
             of research that traces the constructiveness of preferences
             to the use of multiple strategies in decision making,
             contingent on task demands. It is argued that individuals
             often build strategies opportunistically, changing their
             processing on the spot depending upon the information they
             encounter during the course of solving the decision problem.
             © 1992.},
   Doi = {10.1016/0001-6918(92)90043-D},
   Key = {fds275566}
}

@article{fds275567,
   Author = {Payne, JW and Bettman, JR and Johnson, EJ},
   Title = {Behavioral Decision Research: A Constructive Processing
             Perspective},
   Journal = {Annual Review of Psychology},
   Volume = {43},
   Number = {1},
   Pages = {87-131},
   Year = {1992},
   Month = {January},
   ISSN = {0066-4308},
   url = {http://dx.doi.org/10.1146/annurev.ps.43.020192.000511},
   Doi = {10.1146/annurev.ps.43.020192.000511},
   Key = {fds275567}
}

@article{fds275516,
   Author = {Payne, JW and Carroll, JS},
   Title = {An information processing approach to two-party
             negotiations},
   Volume = {3},
   Booktitle = {Research on Negotiations and Organizations},
   Publisher = {JAI Press},
   Editor = {Bazerman, M and Sheppard, B and Lewicki, R},
   Year = {1991},
   Key = {fds275516}
}

@article{fds275517,
   Author = {Bettman, JR and Johnson, EJ and Payne, JW},
   Title = {Consumer Decision Making},
   Pages = {50-54},
   Booktitle = {Handbook of Consumer Behavior},
   Publisher = {Prentice Hall},
   Editor = {Robertson, TS and Kassarjian, HH},
   Year = {1991},
   Key = {fds275517}
}

@article{fds275563,
   Author = {Bettman, JR and Johnson, EJ and Payne, JW},
   Title = {A componential analysis of cognitive effort in
             choice},
   Journal = {Organizational Behavior and Human Decision
             Processes},
   Volume = {45},
   Number = {1},
   Pages = {111-139},
   Year = {1990},
   Month = {February},
   ISSN = {0749-5978},
   url = {http://dx.doi.org/10.1016/0749-5978(90)90007-V},
   Abstract = {We examine the effort required to execute decision
             strategies and propose a set of elementary information
             processes (EIPs) (e.g., reads, additions, comparisons) as a
             common language for describing these strategies. Based upon
             these component processes, a model for measuring the effort
             required to execute a decision strategy is proposed which
             suggests that effort is a weighted sum of EIPs. We test
             several variants of this model by attempting to predict
             decision latencies and subjective reports of effort. The
             proposed weighted EIP model provides good predictions for
             response time and subjective effort, and estimates of the
             time and effort associated with each EIP seem plausible and
             consistent with those found in other cognitive tasks. The
             time and effort required by each EIP do not vary
             substantially across rules; however, there are significant
             individual differences. On balance, the EIP approach to
             conceptualizing and measuring the effort of executing a
             choice strategy receives strong support. ©
             1990.},
   Doi = {10.1016/0749-5978(90)90007-V},
   Key = {fds275563}
}

@article{fds315066,
   Author = {Creyer, EH and Bettman, JR and Payne, JW},
   Title = {The Impact of accuracy and effort feedback and goals on
             adaptive decision behavior},
   Journal = {Journal of Behavioral Decision Making},
   Volume = {3},
   Number = {1},
   Pages = {1-16},
   Year = {1990},
   Month = {January},
   ISSN = {0894-3257},
   url = {http://dx.doi.org/10.1002/bdm.3960030102},
   Doi = {10.1002/bdm.3960030102},
   Key = {fds315066}
}

@article{fds275518,
   Author = {Bettman, JR and Payne, JW and Johnson, EJ},
   Title = {The Adaptive Decision Maker: Effort and Accuracy in
             Choice},
   Pages = {129-153},
   Booktitle = {Insights in Decision Making: A Tribute to Hillel
             J.Einhorn},
   Publisher = {University of Chicago Press},
   Year = {1990},
   Key = {fds275518}
}

@article{fds275519,
   Author = {Payne, JW},
   Title = {Rationality in decision making: A commentary},
   Pages = {165-170},
   Booktitle = {Organization and Decision Theory},
   Publisher = {Kluwer-Nijhoff},
   Editor = {Horowitz, I},
   Year = {1990},
   Key = {fds275519}
}

@article{fds275565,
   Author = {Payne, JW and Johnson, EJ and Bettman, JR and Coupey,
             E},
   Title = {Understanding contingent choice: A computer simulation
             approach},
   Journal = {IEEE Transactions on Systems, Man and Cybernetics},
   Volume = {20},
   Number = {2},
   Pages = {296-309},
   Year = {1990},
   url = {http://dx.doi.org/10.1109/21.52541},
   Abstract = {It is pointed on that, when making choices, people use a
             variety of information processing strategies, contingent
             upon a number of task and context variables. An approach to
             investigating contingent decision behavior using an
             effort/accuracy framework, production system modeling of
             decision strategies, and Monte Carlo simulation to explore
             the interactions of task properties with decision heuristics
             (strategies) is illustrated. The simulation results suggest
             that the contingent use of choice heuristics may often yield
             relatively high levels of decision accuracy with substantial
             savings in effort. Also presented is a discussion of how the
             use of heuristics may vary during the course of the decision
             episode as the structure of the task is learned. In
             addition, ways to opportunistically exploit the task
             structure to simplify processing while still producing good
             decisions are identified.},
   Doi = {10.1109/21.52541},
   Key = {fds275565}
}

@article{fds315067,
   Author = {Simonson, I and Huber, J and Payne, J},
   Title = {The Relationship between Prior Brand Knowledge and
             Information Acquisition Order},
   Journal = {Journal of Consumer Research},
   Volume = {14},
   Number = {4},
   Pages = {566-566},
   Year = {1988},
   Month = {March},
   ISSN = {0093-5301},
   url = {http://dx.doi.org/10.1086/209136},
   Doi = {10.1086/209136},
   Key = {fds315067}
}

@article{fds275562,
   Author = {Payne, JW and Bettman, JR and Johnson, EJ},
   Title = {Adaptive Strategy Selection in Decision Making},
   Journal = {Journal of Experimental Psychology. Learning, Memory, and
             Cognition},
   Volume = {14},
   Number = {3},
   Pages = {534-552},
   Year = {1988},
   ISSN = {0278-7393},
   Abstract = {The role of effort and accuracy in the adaptive use of
             decision processes is examined. A computer simulation using
             the concept of elementary information processes identified
             heuristic choice strategies that approximate the accuracy of
             normative procedures while saving substantial effort.
             However, no single heuristic did well across all task and
             context conditions. Of particular interest was the finding
             that under time constraints, several heuristics were more
             accurate than a truncated normative procedure. Using a
             process-tracing technique that monitors information
             acquisition behaviors, two experiments tested how closely
             the efficient processing patterns for a given decision
             problem identified by the simulation correspond to the
             actual processing behavior exhibited by subjects. People
             appear highly adaptive in responding to changes in the
             structure of the available alternatives and to the presence
             of time pressure. In general, actual behavior corresponded
             to the general patterns of efficient processing identified
             by the simulation. Finally, learning of effort and accuracy
             trade-offs are discussed.},
   Key = {fds275562}
}

@article{fds275564,
   Author = {Johnson, EJ and Payne, JW and Bettman, JR},
   Title = {Information displays and preference reversals},
   Journal = {Organizational Behavior and Human Decision
             Processes},
   Volume = {42},
   Number = {1},
   Pages = {1-21},
   Year = {1988},
   ISSN = {0749-5978},
   url = {http://dx.doi.org/10.1016/0749-5978(88)90017-9},
   Abstract = {Preference reversals occur when a decision maker prefers one
             option to another in one response mode but reverses that
             ordering when preferences are elicited in another response
             mode. We report the results of two experiments which
             significantly impact the frequency of preference reversals.
             Specifically, when the probabilities are displayed in a
             format which appears harder to process, the frequency of
             reversals is increased. Process-tracing evidence suggests
             that decision-makers also shifted information processing
             strategies as a function of information format. We discuss
             the implications for theories of preference reversals and
             strategy selection, and for the design of information
             displays. © 1988.},
   Doi = {10.1016/0749-5978(88)90017-9},
   Key = {fds275564}
}

@article{fds275520,
   Author = {Payne, JW and Johnson, EJ},
   Title = {The decision to commit a crime: An information processing
             analysis},
   Pages = {170-185},
   Booktitle = {The Reasoning Criminal: Rational Choice Perspectives of
             Offending},
   Publisher = {Springer Verlag},
   Editor = {Cornish, D and Clark, R},
   Year = {1986},
   Key = {fds275520}
}

@article{fds315068,
   Author = {BETTMAN, JR and PAYNE, JW and STAELIN, R},
   Title = {COGNITIVE CONSIDERATIONS IN DESIGNING EFFECTIVE LABELS FOR
             PRESENTING RISK INFORMATION},
   Journal = {Journal of Public Policy and Marketing},
   Volume = {5},
   Pages = {1-28},
   Year = {1986},
   ISSN = {0743-9156},
   url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1986H318200001&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
   Key = {fds315068}
}

@article{fds315069,
   Author = {Magat, WA and Payne, JW and Brucato, PF},
   Title = {How important is information format? An experimental study
             of home energy audit programs},
   Journal = {Journal of Policy Analysis and Management},
   Volume = {6},
   Number = {1},
   Pages = {20-34},
   Year = {1986},
   ISSN = {0276-8739},
   url = {http://dx.doi.org/10.1002/pam.4050060103},
   Doi = {10.1002/pam.4050060103},
   Key = {fds315069}
}

@article{fds275521,
   Author = {Payne, JW},
   Title = {Psychology of risky decisions},
   Booktitle = {Behavioral Decision Making},
   Publisher = {Plenum},
   Editor = {Wright, G},
   Year = {1985},
   Key = {fds275521}
}

@article{fds275547,
   Author = {Johnson, EJ and Payne, JW},
   Title = {EFFORT AND ACCURACY IN CHOICE.},
   Journal = {Management Science},
   Volume = {31},
   Number = {4},
   Pages = {395-414},
   Year = {1985},
   Abstract = {It has been hypothesized that strategy selection is, in
             part, a function of (1) the ability of a strategy to produce
             an accurate response and (2) the strategy's demand for
             mental resources or effort. The authors examine effort and
             accuracy and their role in strategy selection. Several
             strategies that may be used to make choices under risk are
             simulated using a production system framework. This
             framework allows the estimation of the effort required to
             use the strategy in a choice environment, while
             simultaneously measuring its accuracy relative to a
             normative model. A series of Monte-Carlo studies varied
             several aspects of the choice environments, including the
             complexity of the task and the presence or absence of
             dominated alternatives. These simulations identify
             strategies which approximate the accuracy of normative
             procedures while requiring substantially less
             effort.},
   Key = {fds275547}
}

@article{fds275557,
   Author = {Payne, JW and Laughhunn, DJ and Crum, R},
   Title = {MULTIATTRIBUTE RISKY CHOICE BEHAVIOR: THE EDTING OF COMPLEX
             PROSPECTS.},
   Journal = {Management Science},
   Volume = {30},
   Number = {11},
   Pages = {1350-1361},
   Year = {1984},
   Abstract = {This investigation draws upon concepts from prospect theory
             and multiattribute utility theory in an examination of the
             multiattribute risky choice behavior of 128 managers. The
             questions of how managers edit multiatribute prospects and
             how editing relates to various independence assumptions were
             explored. The major result is that managers appear to
             violate attribute independence in its general form, and
             especially in the form of the marginality assumption. The
             most common form of behavior observed was multiattibute risk
             aversion for prospects involving only gains and
             multiattribute risk seeking for proposects involving only
             losses.},
   Key = {fds275557}
}

@article{fds315070,
   Author = {Payne, JW and Laughhunn, DJ},
   Title = {The Impact of Sunk Outcomes on Risky Choice
             Behavior},
   Journal = {INFOR},
   Volume = {22},
   Pages = {151-181},
   Year = {1984},
   Key = {fds315070}
}

@article{fds315071,
   Author = {LAUGHHUNN, DJ and CRUM, RL and PAYNE, JW},
   Title = {RISK ATTITUDES IN THE TELECOMMUNICATIONS
             INDUSTRY},
   Volume = {14},
   Number = {2},
   Pages = {517-521},
   Year = {1983},
   ISSN = {0361-915X},
   url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1983SH00700019&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
   Doi = {10.2307/3003652},
   Key = {fds315071}
}

@article{fds315072,
   Author = {Huber, J and Payne, JW and Puto, C},
   Title = {Adding Asymmetrically Dominated Alternatives: Violations of
             Regularity and the Similarity Hypothesis},
   Journal = {Journal of Consumer Research},
   Volume = {9},
   Number = {1},
   Pages = {90-90},
   Year = {1982},
   Month = {June},
   ISSN = {0093-5301},
   url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1982NT65600008&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
   Doi = {10.1086/208899},
   Key = {fds315072}
}

@article{fds275522,
   Author = {Payne, JW},
   Title = {Applications of information processing and decision
             theories: A discussion},
   Booktitle = {New Directions in Decision Making: An Interdisciplinary
             Approach to the Study of Organization,},
   Publisher = {Kent},
   Editor = {Ungson, GR and Braunstein, DN},
   Year = {1982},
   Key = {fds275522}
}

@article{fds275546,
   Author = {Payne, JW},
   Title = {Contingent decision behavior.},
   Journal = {Psychological Bulletin},
   Volume = {92},
   Number = {2},
   Pages = {382-402},
   Year = {1982},
   ISSN = {0033-2909},
   url = {http://dx.doi.org/10.1037/0033-2909.92.2.382},
   Abstract = {Reviews the literature showing the effects of task and
             context variables on decision behavior and evaluates
             alternative theories for handling task and context effects.
             These frameworks include (a) cost/benefit principles, (b)
             perceptual processes, and (c) adaptive production systems.
             Both the cost/benefit and perceptual frameworks are shown to
             have strong empirical support but unresolved conceptual
             problems. The production system framework has less direct
             support but has the desirable property of containing
             elements of both of the other frameworks. Research is
             discussed in terms of variables encountered by the decision
             maker: task complexity, response mode, information display,
             agenda effects, similarity of alternatives, and the quality
             of the option set. (91 ref) (PsycINFO Database Record (c)
             2006 APA, all rights reserved). © 1982 American
             Psychological Association.},
   Doi = {10.1037/0033-2909.92.2.382},
   Key = {fds275546}
}

@article{fds315073,
   Author = {PAYNE, JW and LAUGHHUNN, DJ and CRUM, R},
   Title = {FURTHER TESTS OF ASPIRATION LEVEL EFFECTS IN RISKY CHOICE
             BEHAVIOR},
   Journal = {Management Science},
   Volume = {27},
   Number = {8},
   Pages = {953-958},
   Year = {1981},
   ISSN = {0025-1909},
   url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1981ME56100009&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
   Doi = {10.1287/mnsc.27.8.953},
   Key = {fds315073}
}

@article{fds315074,
   Author = {CRUM, RL and LAUGHHUNN, DJ and PAYNE, JW},
   Title = {RISK-SEEKING BEHAVIOR AND ITS IMPLICATIONS FOR FINANCIAL
             MODELS},
   Journal = {Financial Management},
   Volume = {10},
   Number = {5},
   Pages = {20-27},
   Year = {1981},
   ISSN = {0046-3892},
   url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1981MW69600003&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
   Doi = {10.2307/3664851},
   Key = {fds315074}
}

@article{fds275523,
   Author = {Payne, JW},
   Title = {Information processing theory: Some concepts and methods
             applied to decision research},
   Booktitle = {Cognitive processes in choice and decision
             behavior},
   Publisher = {Lawrence Erlbaum Associates},
   Year = {1980},
   Key = {fds275523}
}

@article{fds275524,
   Author = {Payne, JW and Crum, R and Laughhunn, D},
   Title = {Risk preference: Empirical evidence and its implications for
             capital budgeting},
   Booktitle = {Financing Issues in Corporate Project Selection},
   Publisher = {Nyenrode Studies in Business},
   Editor = {Dekinderen, GJ and Crum, R},
   Year = {1980},
   Key = {fds275524}
}

@article{fds275555,
   Author = {Payne, JW and Laughhunn, DJ and Crum, R},
   Title = {TRANSLATION OF GAMBLES AND ASPIRATION LEVEL EFFECTS IN RISKY
             CHOICE BEHAVIOR.},
   Journal = {Management Science},
   Volume = {26},
   Number = {10},
   Pages = {1039-1060},
   Year = {1980},
   Abstract = {Two recent models of risky decision-making have emphasized
             the importance of a target return or a reference point in
             determining preferences and choices among gambles. Target
             returns and reference points represent variations on the
             concept of an aspiration level, an old idea in theories of
             decision-making. Additional evidence on the need to
             incorporate such a concept in the analysis of risky choice
             behavior is presented. In three experiments, the
             relationship of pairs of gambles to an assumed reference
             point was varied by adding or subtractng a constant amount
             from all outcomes. The results demonstrate that such
             translations of outcomes can result in the reversal of
             choice within pairs of gambles.},
   Key = {fds275555}
}

@article{fds275556,
   Author = {Laughhunn, DJ and Payne, JW and Crum, R},
   Title = {MANAGERIAL RISK PREFERENCES FOR BELOW-TARGET
             RETURNS.},
   Journal = {Management Science},
   Volume = {26},
   Number = {12},
   Pages = {1238-1249},
   Year = {1980},
   Abstract = {A report is presented on the risk preferences for below
             target returns of 224 managers from the U. S. , Canada, and
             Europe. When only non-ruinous losses were involved, 71% of
             the managers were risk seeking for below target returns. The
             distribution of risk preferences tended to be stable over a
             wide range of experimental conditions: diversity of
             background of the managers, the size of outcomes below
             target, and the context of the decision process (personal
             versus managerial). When ruinous losses were introduced for
             75 of the managers, 64% switched to risk averse behavior.
             Empirical findings concerning the relationship between risk
             preferences for below target returns and several demographic
             characteristics of managers are also reported.},
   Key = {fds275556}
}

@article{fds275544,
   Author = {Payne, JW and Braunstein, ML},
   Title = {Risky choice: An examination of information acquisition
             behavior},
   Journal = {Memory & Cognition},
   Volume = {6},
   Number = {5},
   Pages = {554-561},
   Year = {1978},
   ISSN = {0090-502X},
   url = {http://dx.doi.org/10.3758/BF03198244},
   Abstract = {The monitoring of information acquisition behavior, along
             with other process tracing measures such as response times,
             was used to examine how individuals process information
             about gambles into a decision. Subjects indicated
             preferences among specially constructed three-outcome
             gambles. The number of alternatives available was varied
             across the sets of gambles. A majority of the subjects
             processed information about the gambles in ways inconsistent
             with compensatory models of risky decision making, such as
             information integration (Anderson & Shanteau, 1970).
             Furthermore, the inconsistency between observed information
             acquisition behavior and such compensatory rules increased
             as the choice task became more complex. Alternative
             explanations of risky choice behavior are considered. ©
             1978 Psychonomic Society, Inc.},
   Doi = {10.3758/BF03198244},
   Key = {fds275544}
}

@article{fds275545,
   Author = {Payne, JW and Braunstein, ML and Carroll, JS},
   Title = {Exploring predecisional behavior: An alternative approach to
             decision research},
   Journal = {Organizational Behavior and Human Performance},
   Volume = {22},
   Number = {1},
   Pages = {17-44},
   Year = {1978},
   ISSN = {0030-5073},
   url = {http://dx.doi.org/10.1016/0030-5073(78)90003-X},
   Abstract = {A trend in the study of decision behavior is the increased
             emphasis being placed on understanding the psychological
             processes underlying observed judgments or choices.
             Unfortunately, the input-output analyses that have been used
             by most decision researchers do not appear fully adequate to
             develop and test process models of decision behavior. It is
             argued that data collection methods are needed that will
             yield data on predecisional behavior in order to identify
             what information a decision maker has and how it is being
             processed. Two such process tracing methods, verbal protocol
             analysis and the analysis of information acquisition
             behavior, which should be especially valuable in decision
             research are illustrated and discussed. The process tracing
             approach appears to be a valuable complement to more
             traditional model fitting approaches to the study of
             decision behavior. The value of a multimethod approach is
             also illustrated and discussed. © 1978.},
   Doi = {10.1016/0030-5073(78)90003-X},
   Key = {fds275545}
}

@article{fds275525,
   Author = {Payne, JW and Carroll, JS},
   Title = {Judgments about crime and the criminal: A model and a method
             for investigating parole decisions},
   Booktitle = {Perspectives in law and psychology. Volume I: The criminal
             justice system},
   Publisher = {Plenum},
   Editor = {Sales, BD},
   Year = {1977},
   Key = {fds275525}
}

@article{fds275543,
   Author = {Carroll, JS and Payne, JW},
   Title = {Crime seriousness, recidivism risk, and causal attributions
             in judgments of prison term by students and
             experts},
   Journal = {The Journal of Applied Psychology},
   Volume = {62},
   Number = {5},
   Pages = {595-602},
   Year = {1977},
   ISSN = {0021-9010},
   url = {http://dx.doi.org/10.1037/0021-9010.62.5.595},
   Abstract = {Two important factors in determining the assignment of
             prison term are crime seriousness and risk of recidivism.
             Although seriousness can be judged from the crime category,
             risk judgments require further details about the offense and
             the offender. 64 college students and 24 expert parole
             decision makers evaluated brief crime reports containing
             crime descriptions and background information about the
             offender's life circumstances. Students and experts inferred
             offense seriousness from the crime descriptions, but they
             inferred risk of future crimes from the background
             information. Agreement was highest for offense severity
             derived from the crime descriptions. Differences of opinion
             seemed to reflect the experts' specific knowledge about
             crimes and criminals. A classification of the background
             information in terms of the attributional dimensions of
             internal vs external and stable vs unstable causes of the
             crime was successful for predicting students' responses, but
             not those of the experts. (PsycINFO Database Record (c) 2006
             APA, all rights reserved). © 1977 American Psychological
             Association.},
   Doi = {10.1037/0021-9010.62.5.595},
   Key = {fds275543}
}

@article{fds275526,
   Author = {Payne, JW},
   Title = {Heuristic search processes in decision making},
   Booktitle = {Advances in Consumer Research, Vol. 3},
   Year = {1976},
   Key = {fds275526}
}

@article{fds275527,
   Author = {Payne, JW and Carroll, JS},
   Title = {The psychology of the parole decision process},
   Booktitle = {Cognition and social behavior},
   Publisher = {Lawrence Erlbaum Associates},
   Year = {1976},
   Key = {fds275527}
}

@article{fds275542,
   Author = {Payne, JW},
   Title = {Task complexity and contingent processing in decision
             making: An information search and protocol
             analysis},
   Journal = {Organizational Behavior and Human Performance},
   Volume = {16},
   Number = {2},
   Pages = {366-387},
   Year = {1976},
   ISSN = {0030-5073},
   url = {http://dx.doi.org/10.1016/0030-5073(76)90022-2},
   Abstract = {Two process tracing techniques, explicit information search
             and verbal protocols, were used to examine the information
             processing strategies subjects use in reaching a decision.
             Subjects indicated preferences among apartments. The number
             of alternatives available and number of dimensions of
             information available was varied across sets of apartments.
             When faced with a two alternative situation, the subjects
             employed search strategies consistent with a compensatory
             decision process. In contrast, when faced with a more
             complex (multialternative) decision task, the subjects
             employed decision strategies designed to eliminate some of
             the available alternatives as quickly as possible and on the
             basis of a limited amount of information search and
             evaluation. The results demonstrate that the information
             processing leading to choice will vary as a function of task
             complexity. An integration of research in decision behavior
             with the methodology and theory of more established areas of
             cognitive psychology, such as human problem solving, is
             advocated. © 1976.},
   Doi = {10.1016/0030-5073(76)90022-2},
   Key = {fds275542}
}

@article{fds275540,
   Author = {Payne, JW},
   Title = {Relation of perceived risk to preferences among
             gambles},
   Journal = {Journal of Experimental Psychology. Human Perception and
             Performance},
   Volume = {1},
   Number = {1},
   Pages = {86-94},
   Year = {1975},
   ISSN = {0096-1523},
   url = {http://dx.doi.org/10.1037/0096-1523.1.1.86},
   Abstract = {Investigated the concept of risk and its role in determining
             preferences, using pairs of specifically constructed
             3-outcome gambles. Ss were 47 undergraduates. The risk
             dimensions, probabilities of winning and losing, and amounts
             to be won or lost were different for each gamble in a pair,
             but the expected values and variances were approximately
             equal. The probability of losing was most important in
             determining judged risk. The likelihood that the more risky
             gamble in a pair would be chosen as the preferred gamble was
             related to the probability relationship within the gambles
             in a pair. The relative importance of the probabilities and
             amounts in preference choices was also contingent on the
             probability relationships. Amounts were more closely
             associated with preference choices when the probability of
             winning was greater than the probability of losing within
             each gamble, and the probabilities were more closely
             associated with the choices when the probability of winning
             was less than the probability of losing. The relevance of
             these findings to other theories of risk and the evidence
             for contingent processing of information in risky decision
             making are discussed. (PsycINFO Database Record (c) 2006
             APA, all rights reserved). © 1975 American Psychological
             Association.},
   Doi = {10.1037/0096-1523.1.1.86},
   Key = {fds275540}
}

@article{fds275541,
   Author = {Payne, JW},
   Title = {Alternative approaches to decision making under risk:
             Moments versus risk dimensions},
   Journal = {Psychological Bulletin},
   Volume = {80},
   Number = {6},
   Pages = {439-453},
   Year = {1973},
   ISSN = {0033-2909},
   url = {http://dx.doi.org/10.1037/h0035260},
   Abstract = {Suggests that the literature on individual decision making
             under risk is characterized by 2 approaches to the
             description of gambles. The 1st describes gambles as
             probability distributions over sets of outcomes. Models of
             decision making developed within this approach have
             concentrated on the moments of the distributions as the
             primary determinants of risky decision behavior. The 2nd
             approach describes gambles as multidimensional stimuli which
             may be conceptualized in terms of basic risk dimensions,
             (e.g., probability of winning, amount to win, probability of
             losing, and amount to lose). This approach views risky
             decision behavior as a form of information processing. The
             relative merits of explanations derived from each approach
             are discussed. It is argued that the risk dimension approach
             appears more promising than that based on moments of the
             underlying probability distribution. (PsycINFO Database
             Record (c) 2006 APA, all rights reserved). © 1973 American
             Psychological Association.},
   Doi = {10.1037/h0035260},
   Key = {fds275541}
}

@article{fds275539,
   Author = {Payne, JW and Braunstein, ML},
   Title = {Preferences among gambles with equal underlying
             distributions},
   Journal = {Journal of Experimental Psychology},
   Volume = {87},
   Number = {1},
   Pages = {13-18},
   Year = {1971},
   ISSN = {0022-1015},
   url = {http://dx.doi.org/10.1037/h0030194},
   Abstract = {Explored the relative merit of risk dimension (probabilities
             of winning and losing, and amounts to be won or lost) and
             moment (expected value, variance, and skewness) explanations
             of decision making under risk, using pairs of specially
             constructed duplex gambles. Ss were 40 undergraduates. The
             explicit (displayed) probability values were different for
             each gamble in a pair, but the underlying distributions were
             identical. Preferences among these gambles were related to
             relationships among the displayed probabilities. This
             supports the concept of gambles as multidimensional stimuli
             to which Ss respond on the basis of displayed values on a
             set of risk dimensions. A preliminary model of the decision
             process is presented in flow-chart form. (PsycINFO Database
             Record (c) 2006 APA, all rights reserved). © 1971 American
             Psychological Association.},
   Doi = {10.1037/h0030194},
   Key = {fds275539}
}

@article{fds275538,
   Author = {Braunstein, ML and Payne, JW},
   Title = {Perspective and form ratio as determinants of relative slant
             judgments},
   Journal = {Journal of Experimental Psychology},
   Volume = {81},
   Number = {3},
   Pages = {584-590},
   Year = {1969},
   ISSN = {0022-1015},
   url = {http://dx.doi.org/10.1037/h0027886},
   Abstract = {Elicited judgments of relative slant by a paired-comparison
             method from 24 undergraduates Ss in each of 3 experiments.
             The stimuli were computer-generated slides representing
             regular dot patterns (Exp. I), regular line patterns (Exp.
             II), or random dot patterns (Exp. III) rotated about a
             horizontal axis. The ratio of horizontal to vertical
             separations (form ratio) and perspective were independently
             varied in Exp. I and II. Perspective clearly dominated slant
             judgments when in conflict with form ratio as an indicator
             of degree of slant. Perspective alone was varied in Exp. III
             and was found to be less effective in determining slant
             judgments for random dot patterns. The equivalence of
             perspective and optical theta as explanations of slant
             perception is discussed. (PsycINFO Database Record (c) 2006
             APA, all rights reserved). © 1969 American Psychological
             Association.},
   Doi = {10.1037/h0027886},
   Key = {fds275538}
}

@article{fds275505,
   Author = {Braunstein, ML and Payne, JW},
   Title = {Perspective and the rotating trapezoid.},
   Journal = {Journal of the Optical Society of America},
   Volume = {58},
   Number = {3},
   Pages = {399-403},
   Year = {1968},
   Month = {March},
   ISSN = {0030-3941},
   url = {http://dx.doi.org/10.1364/josa.58.000399},
   Doi = {10.1364/josa.58.000399},
   Key = {fds275505}
}


%% Books   
@book{fds275528,
   Author = {Payne, JW and Sunstein, CR and Hastie, R and Schkade, DA and Vicusi,
             WK},
   Title = {Punitive Damages: How Juries Decide},
   Publisher = {University of Chicago Press},
   Year = {2002},
   Key = {fds275528}
}

@book{fds275529,
   Author = {Luce, MF and Bettman, JR and Payne, JW},
   Title = {Tradeoff Difficulty: Determinants and Consequences for
             Consumer Decisions},
   Volume = {1},
   Year = {2001},
   Key = {fds275529}
}

@book{fds275530,
   Author = {Payne, JW and Bettman, JR and Johnson, EJ},
   Title = {The Adaptive Decision Maker},
   Pages = {330 pages},
   Publisher = {Cambridge University Press},
   Year = {1993},
   Month = {May},
   ISBN = {0521425263},
   Abstract = {Demonstrates how decision makers balance effort and accuracy
             considerations and predict the particular choice of
             strategy.},
   Key = {fds275530}
}

@book{fds275531,
   Author = {Payne, JW},
   Title = {Cognition and Social Behavior},
   Publisher = {Erlbaum},
   Year = {1976},
   Key = {fds275531}
}


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