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Some considerations regarding the problem of multidimensional utility
Binder, Martin - 2009
eliminate the possibility to make a normative argument supporting a multidimensional notion of utility. -- utility ; pleasures …The concept of "utility" is often used in ambiguous ways in economics, from having substantive psychological … can we compare different pleasures? This paper assesses the evidence from psychology and neurosciences on how to best …
Persistent link: https://www.econbiz.de/10003905687
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Disentangling motivational and experiential aspects of "Utility": A neuroeconomics perspective
Witt, Ulrich; Binder, Martin - 2011
-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and … makers' difficulties can be explained once the motivational aspects of utility (wanting) are disentangled from the …
Persistent link: https://www.econbiz.de/10010286755
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Disentangling motivational and experiential aspects of "Utility" : a neuroeconomics perspective
Witt, Ulrich; Binder, Martin - 2011
-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and … makers' difficulties can be explained once the motivational aspects of utility ("wanting") are disentangled from the … experiential ones ("liking") and the features of the different psychological processes involved are recognized. -- utility …
Persistent link: https://www.econbiz.de/10009409675
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Neural Random Utility : Relating Cardinal Neural Observables to Stochastic Choice Behaviour'
Webb, Ryan; Glimcher, Paul; Levy, Ifat; Lazzaro, Stephanie - 2019
We assess whether a cardinal model can be used to relate neural observables to stochastic choice behaviour. We develop a general empirical framework for relating any neural observable to choice prediction, and propose a means of bench-marking their predictive power. In a previous study,...
Persistent link: https://www.econbiz.de/10014165905
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Neuronal utility and choice by an organism
Valdés-Edwards, Gonzalo; Valdés Prieto, Salvador - 2015
Persistent link: https://www.econbiz.de/10011565907
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Neural antecedents of a random utility model
Lusk, Jayson L.; Crespi, John M.; McFadden, Brandon R.; … - In: Journal of economic behavior & organization : JEBO 132 (2016) 1, pp. 93-103
Persistent link: https://www.econbiz.de/10011703086
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Time will tell : recovering preferences when choices are noisy
Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2018 - This version: October 2018
. 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. Sharper results are obtained if the analysis … conclude by showing that standard random utility models from economics and standard drift-diffusion models from psychology …
Persistent link: https://www.econbiz.de/10011926039
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Time will tell : recovering preferences when choices are noisy
Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2018 - This version: October 2018
. 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. Sharper results are obtained if the analysis … conclude by showing that standard random utility models from economics and standard drift-diffusion models from psychology …
Persistent link: https://www.econbiz.de/10011929616
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Time will tell : recovering preferences when choices are noisy
Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2018
. 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. Sharper results are obtained if the analysis … conclude by showing that standard random utility models from economics and standard drift-diffusion models from psychology …
Persistent link: https://www.econbiz.de/10011946760
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Attention and salience in preference reversals
Alós-Ferrer, Carlos; Ritschel, Alexander - 2021
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...
Persistent link: https://www.econbiz.de/10012520210