Fig 1.
After a brief fixation period (A), participants were presented with a virtual “bag” of exactly 100 poker chips, all of which were colored either red or blue. On each trial, participants receive information about the number of red (winning) and blue (losing) chips. Participants were asked to indicate their willingness to pay (WTP) for a red ticket (B). In this sample trial, there are 7 red (winning) chips visible, 49 blue (losing) chips visible, and 44 chips that are not visible and thus not known to the participant. Participants selected their WTP by moving a marker across the response bar.
Table 1.
All model equations.
Fig 2.
Correlation matrix of decision-making variables.
WTP = Willingness to Pay.
Table 2.
Model comparison results.
Table 3.
Regression results for the maximal descriptive model.
Table 4.
Model performance for all models with socioeconomic predictors.
Fig 3.
Posterior distributions of both the risk parameter and ambiguity parameter for the maximal descriptive model, along with a scatterplot of the covariance between the parameters.
Table 5.
Regression results for the socioeconomic maximal descriptive model.
Fig 4.
89% Highest Density Intervals (HDI) for the regression weights of each socioeconomic variable on the risk parameter and ambiguity parameter.
ADI = Area Deprivation Index.