Cognition in Seemingly Riskless Choices and Judgments.

We instillate rational cognition and learning in "seemingly riskless" choices and judgments. Preferences and possibilities are given in a stochastic sense and based on revisable expectations. The theory predicts experimental preference reversals and passes a sharp econometric test of the status quo bias drawn from a field study.

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Year of publication:	1996
Authors:	Levy-Garboua, L. ; Montmarquette, C.
Institutions:	Centre Interuniversitaire de Recherche en Économie Quantitative (CIREQ)
Subject:	RISK \| EXPECTATIONS \| ECONOMETRICS \| TESTS

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Series:	Cahiers de recherche.
Type of publication:	Book / Working Paper
Notes:	27 pages
Classification:	C50 - Econometric Modeling. General ; C52 - Model Evaluation and Testing ; D80 - Information and Uncertainty. General ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; D84 - Expectations; Speculations
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005729521