Trading your car in after a year

HDM is an illustrative hypothetical decision maker, and DM1 and DM13 are Participants 1 and 13 in Regenwetter et al. (2010, 2011a). The right three columns show the frequencies, out of 20 repetitions, and corresponding percentages, that each decision maker chose the cash lottery coded as Gamble 1. Frequencies where the modal choice is consistent with KT-V4 are marked in. For some of the points we will make, it is useful to pay close attention to a specific prediction under.