How Different Choice Strategies Can Affect the Risk Elicitation Process
Ari Riabacke, Mona Påhlman, Aron Larsson · KTH Publication Database DiVA (KTH Royal Institute of Technology) · 2006
This paper presents a study focusing on deviations from normative behavior in risk elicitation. Such deviations haveimplications on the process of eliciting reliable input data in applications of decision analysis. No existing elicitation method seems to be universally useful based on the findings made in this study. Since people obviously do not act in accordance with the normative rules, and different choice strategies have been identified, a prescriptive approach with individual assistance of the decision makers in the elicitation process thus seems to benecessary.