The Bounded Log-Odds Model of Frequency and Probability Distortion
Hang Zhang, Laurence T. Maloney · Purdue e-Pubs (Purdue University System) · 2015
Similar patterns of distortion of frequency/probability information have been found in a variety of perceptual and cognitive tasks that involve frequency/probability (Zhang & Maloney, 2012, Frontiers in Neuroscience). The subjective probability (π ) can be expressed as a linear transformation of the objective probability ( p ) on the log odds scale: Lo π ( ) = γ Lo p ( ) + Lo β ( ) , where Lo p ( ) denotes the “logit” or log odds,