When Allais meets Ulysses: Dynamic Consistency and the Certainty Effect

We report experimental findings about subjects’ behavior in dynamic decision problems involving multistage lotteries with different timings of resolution of uncertainty. Our within subject design allows us to study violations of the independence axiom in the light of the dynamic axioms' ones : dynamic consistency, consequentialism and reduction of compound lotteries.

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Year of publication:	2009-12
Authors:	Nebout, Antoine ; Dubois, Dimitri
Institutions:	LAboratoire Montpelliérain d'Économie Théorique et Appliquée (LAMETA), Faculté de sciences économiques

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	8 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008495567