Table 2.

Response times for different treatments

	Gains	Losses
Certainty	2.391 (2.250, 2.531)	2.825 (2.669, 2.98)
Risky	3.090 (2.923, 3.258)	3.448 (3.285, 3.611)

The data are in seconds. In parentheses we report the 95% confidence interval. The table shows that choices among lotteries involving losses consistently require more average time than those that involve gains. Also, the risky condition requires consistently more average time than certainty condition. As with the choice data, we augment the table with a regression analysis. The dependent variable response time (sec) was regressed on the gain and cert variables. The estimated coefficients show that the choices under loss required more time to evaluate than those involving gains, and the choices with a risky reference lottery required more time. The precise results are shown in Table 3. (We also attempted to control for the relative importance of difference in lotteries, by approximating this difference by an estimate of the subjective value of the two lotteries. We assess this subjective value by taking the sum of the difference in expected values times the estimated coefficient for that subject plus the difference in standard deviations times the estimated coefficient for the subject on that variable. The coefficient of this variable is not significant.)