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:	1995
Authors:	Levy-Garboua, L. ; Montmarquette, C.
Institutions:	Théorie et Applications en Microéconomie et Macroéconomie (TEAM), Centre d'Économie de la Sorbonne
Subject:	RISK \| HOUSEHOLD \| TESTS

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Series:	Papiers du Laboratoire de Microéconomie Appliquée.
Type of publication:	Book / Working Paper
Notes:	19 pages
Classification:	C40 - Econometric and Statistical Methods: Special Topics. General ; C44 - Statistical Decision Theory; Operations Research ; C90 - Design of Experiments. General ; C93 - Field Experiments ; D00 - Microeconomics. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005474936