Originally, I concentrated on testing the empirical validity of fundamental assumptions (e.g., monotonicity) of decision theories involving both single gambles and joint receipt of several gambles. The primary tool for testing these assumptions, as well as for developing theories such as cumulative prospect theory and rank- and sign-dependent theory, was the certainty equivalent of gambles, whose estimates were induced from an iterative choice procedure. Some recent data concerning joint receipts, however, have exhibited systematic difficulties for the use of certainty equivalents. I am currently interested in testing the validity of using certainty equivalents in testing the assumptions of choice-based theories. I am also interested in developing a theoretically sound yet efficient empirical method to test the assumptions underlying choice theory. (Funding Agency: National Science Foundation. Effective date: July 1998- July 2001)
In addition to continuing the above work, I am studying the application of decision making theories to health issues. Specifically, I am investigating the relationship between risk perception and risk-taking behaviors such as drinking and driving and risky sexual behaviors using structural equation modeling. I am also investigating experimentally the role of alcohol and gender in decision components (e.g., identifying costs and benefits of engaging in risky behaviors). (Funding Agency: Alcoholic Beverage and Medical Research Foundation. Effective date: January 1998- December 1999) Click here for abstract.