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Award details
Effect of joint variance in reward delay and amount: testing theories for risk sensitivity.
Reference
S13483
Principal Investigator / Supervisor
Professor Alex Kacelnik
Co-Investigators /
Co-Supervisors
Institution
University of Oxford
Department
Zoology
Funding type
Research
Value (£)
170,568
Status
Completed
Type
Research Grant
Start date
01/01/2001
End date
30/04/2004
Duration
40 months
Abstract
Animal and human choices are sensitive to both average and variance of reward. This has been demonstrated separately for several reward dimensions, notably amount of reward and delay between choice and delivery. Of several theories that deal with Risk Sensitivity in biology, psychology and economics, Scalar Utility Theory is special in being grounded in psychophysics and in accounting for more empirical evidence than its alternatives with great economy of parameters, but it has not yet been developed to handle joint effects of more than one dimension of reward. It is proposed to test how joint variability in both amount and delay affects choices, and to test and contrast all prevalent theories of risk sensitivity in animals.
Summary
unavailable
Committee
Closed Committee - Animal Sciences (AS)
Research Topics
X – not assigned to a current Research Topic
Research Priority
X – Research Priority information not available
Research Initiative
X - not in an Initiative
Funding Scheme
X – not Funded via a specific Funding Scheme
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