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Probability Compounding in Words and in Practice
Zizzo, Daniel John - Department of Economics, Oxford University - 2002
The conjunction fallacy occurs whenever probability compounds are thought of as more likely than its component probabilities alone. In the experiment we present, subjects chose between simple and compound lotteries after some practice. Depending on the condition, they were given more or less...
Persistent link: https://www.econbiz.de/10010605216
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Choices Between Simple and Compound Lotteries: Experimental Evidence and Neural Network Modelling
Zizzo, Daniel John - Department of Economics, Oxford University - 2001
An experiment on choices between single and compound lotteries is presented, and results are calibrated with neural network models. Many subjects tend to average out probabilities, though behaviour becomes more rational with more exposure to compound lotteries in the practice stage. The Prior...
Persistent link: https://www.econbiz.de/10010605249
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Intermediate Public Economics
Hindriks, Jean; Myles, Gareth D. - The MIT Press
but in its balance between public finance and public choice and its combination of theory and relevant empirical evidence …
Persistent link: https://www.econbiz.de/10010905536
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Banking on Democracy: Financial Markets and Elections in Emerging Countries
Santiso, Javier - The MIT Press
apparent than in emerging markets. In Banking on Democracy, Javier Santiso investigates the links between politics and finance … markets have decoupled politics and finance, in the wake of the 2008Ð2012 financial crisis many developed economies (Europe … and the United States) have experienced a recoupling between finance and politics. …
Persistent link: https://www.econbiz.de/10010905558