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  1. The ratio bias phenomenon: fact or artifact? [REVIEW]Mathieu Lefebvre, Ferdinand M. Vieider & Marie Claire Villeval - 2011 - Theory and Decision 71 (4):615-641.
    The ratio bias—according to which individuals prefer to bet on probabilities expressed as a ratio of large numbers to normatively equivalent or superior probabilities expressed as a ratio of small numbers—has recently gained momentum, with researchers especially in health economics emphasizing the policy importance of the phenomenon. Although the bias has been replicated several times, some doubts remain about its economic significance. Our two experiments show that the bias disappears once order effects are excluded, and once salient and dominant incentives (...)
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