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The certainty effect is the psychological effect resulting from the reduction of probability from certain to probable (Tversky & Kahneman 1986). It is an idea introduced in prospect theory.
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effect 20 psychological reduction tversky kahneman prospect theory chance certainty option framing 1986 80 probability following win nothing pdf certain
| Subject | Predicate | Object | Confidence | Src |
|---|---|---|---|---|
| Certainty effect | is a | psychological effect resulting from the reduction of probability from certain to probable | 0.90 | text |
| displeasure to individuals | instance of | creates a psychological effect | 0.80 | text |
| which leads to the perception of loss from the original probability thus favoring a risk-averse decision | instance of | creates a psychological effect | 0.80 | text |
| Certainty effect | related to Example | Tversky | 0.60 | section |
| Certainty effect | related to Example | Kahneman | 0.60 | section |
| Certainty effect | related to Example | First | 0.60 | section |
| Certainty effect | see also | Pseudocertainty | 0.60 | section |
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