New research uncovers why an increase in probability feels riskier than a decrease. The research falls under the realm of subjective probability, also known as likelihood or risk. While past research ...

WE do not make a general statement to the effect that subjective probabilities in all situations diminish with increase in age, but merely refer to the subjective probability of winning the uncertain ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...

If you enjoyed this article, I’d like to ask for your support. Scientific American has served as an advocate for science and industry for 180 years, and right now may be the most critical moment in ...

Roth, A. E., and F. Schoumaker. "Subjective Probability and the Theory of Games: Some Further Comment." Management Science 29, no. 11 (November 1983): 1337–1340.