Investigation to Stochastic Preference Theory Using Exeprimental Data.

This paper investigates the relative empirical performance of 3 stories of error' in decision-making experiments - finding that the constant-error-probability story does not fit particularly well, but that the white-noise and stochastic preference stories perform considerably better. The paper concludes by suggesting ways of testing between these two

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Year of publication:	1997
Authors:	Carbone, E.
Institutions:	School of Economics, University of East Anglia
Subject:	DECISION MAKING \| RISK \| STOCHASTIC MODELS

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Series:	University of East Anglia Discussion Papers in Economics.
Type of publication:	Book / Working Paper
Notes:	19 pages
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; C91 - Laboratory, Individual Behavior ; C25 - Discrete Regression and Qualitative Choice Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008621772