Th willingness to take risks is often treated as stable personality trait. That’s not entirely true. Risk seeking depends on what we need and when we need it.
Why do we prefer what we prefer? Take cereal bars. Do I genuinely prefer an almond bar over one with hazelnuts most of the time? Or does this almond bar look like the one I had the other day, which was delicious, and happend to have almonds? (I personally prefer chocolate, but that’s a different story.)
What is financial risk to humans? Is it how much they can loose? Is it how predictable their returns are? Is it variance? Or something differently entirely?
We analyze within-subjects designs with repeated-measures regressions, aka random-effects models. Learn how to set up such models in R. This concerns analyzing data with grouping, clustering, aka. hierarchical data, data with correlated errors, or data with violations of sphericity.
The annual MathPsych conference (meeting of the Society for Mathematical Psychology and the International Conference on Cognitive Modelling) was held in June. This is a quick and late summary.