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preferences (as implied by popular random utility models) and standard neuroeconomic models of choice, which update decision …
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We investigate the implications of Salience Theory for the classical preference reversal phenomenon, where monetary valuations contradict risky choices. It has been stated that one factor behind reversals is that monetary valuations of lotteries are inflated when elicited in isolation, and that...
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Surveys and opinion polls are essential instruments to elicit societal preferences and uncover differences between socioeconomic or demographic groups. However, survey data is noisy, and survey bias is ubiquitous, limiting the reliability and usefulness of standard analyses. We provide a new...
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. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in … choices reveal preferences without assumptions on the structure of utility noise. Standard random utility models from …
Persistent link: https://www.econbiz.de/10012243088
Intuitive decision making has a large and often negative impact in economic decisions, but its measurement and quantification remains challenging. Following research from psychology, behavioral economists have often attempted to causally manipulate the balance of intuition and deliberation by...
Persistent link: https://www.econbiz.de/10012249760