Abstract
In two experiments on the effects of expected value difference (D) and expected regret ratio (R) on the strength of preference between gambles, D and R were unconfounded. It was found that D can affect preference strength when R is controlled, and vice versa. The results, however, show that there are strong determinants of preference strength other than D and R--determinants as yet not satisfactorily accounted for. In another paper (1971), Lee has discussed two indices that have been related to strength of preference for one gamble over another. In particular, the paper concerned choice situations that can be
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