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 ...

IN a communication under the above title, Cohen and Hansel 1 point out that if a prize is certain and large enough, in relation to the individual's scale of values, it will be preferred to an ...