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Preferences over risky alternatives can be elicited by different methods, including direct pairwise choices and willingness-to-accept valuations. The results are frequently at odds, casting doubts on the foundations of economics. We develop a stochastic choice model predicting when...
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Does attention have a causal impact on risky decisions? We address this question in a preregistered experiment in which …
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In confidence theory, the decision maker relies on statistical regularities from the economic environment to adopt … formation in choice under risk. Three novel experiments are presented that demonstrate the ability of the new theory to explain … confidence theory is an elaboration of Viscusi's prospective reference theory and accounts for the robust violations of expected …
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The current experiment compares risk preference in choices for self and others. The experimental task is based on Holt …
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