Lejarraga, T., Woike, J. K., & Hertwig, R. (2019). Experiences and descriptions of financial uncertainty: Are they equivalent?. In R. Hertwig, T. Pleskac, T. Pachur, & the Center for Adaptive Rationality (Eds.), Taming uncertainty (pp. xx–xx). Boston, MA: MIT Press. doi:XXXXXXX


In this interactive element you will get a chance to experience the Risktool and its components as addressed in chapter 10 and originally studied by Kaufmann, Weber, & Haisley (2013). In total there are four paradigms presented called Risktool, Experience, Description, and Distribution. Each presents you with a hypothetical investment scenario that allows you to allocate your money across a riskless and risky investment option. The paradigms differ in how they inform you about the possible consequences of your investment decisions. Here you can try each paradigm. In fact, we hope that you try out each so that you can compare your own behavior in the four paradigms. We will also show you a chart comparing the behavior of past participants in the original set of experiments as well as to visitors to this website.


Make an investment decision based on a description.

Show Description


Make an investment decision based on your own experience.

Show Experience


Make an investment decision based on a distribution.

Show Distribution


Make an investment decision based on the Risktool.

Show Risktool


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