Negative Recency, Randomization Device Choice, and Reduction of Compound Lotteries

We report an experiment in which subjects are not indifferent between real-money lotteries implemented with randomization devices that are equivalent under the Reduction Axiom. Instead choice behavior is consistent with subjective distortion of conditional probability, and this persists in treatment conditions that control for (i) computational limitations and (ii) possible confounding by ratio bias

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Year of publication:	2014
Authors:	Kaivanto, Kim
Other Persons:	Kroll, Eike B. (contributor)
Publisher:	[2014]: [S.l.] : SSRN
Subject:	Entscheidung unter Risiko \| Decision under risk \| Spieltheorie \| Game theory \| Experimentelle Ökonomik \| Experimental economics \| Glücksspiel \| Gambling

Extent:	1 Online-Ressource (10 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Economics Letters, May 2012, Vol. 115, No. 2, pp. 263-–267 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 29, 2011 erstellt
Other identifiers:	10.2139/ssrn.1810941 [DOI]
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; C91 - Laboratory, Individual Behavior
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013068226