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Inferring preferences from choices under uncertainty
Kuzmics, Christoph - 2012
optimal choice (or collection of choices) given this preference relation, there is another preference relation that satisfies … EUOL plus the Savage axioms, for which this choice is also optimal. …
Persistent link: https://www.econbiz.de/10010319975
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Inferring preferences from choices under uncertainty
Kuzmics, Christoph - Institut für Mathematische Wirtschaftsforschung, … - 2012
optimal choice (or collection of choices) given this preference relation, there is another preference relation that satisfies … EUOL plus the Savage axioms, for which this choice is also optimal. …
Persistent link: https://www.econbiz.de/10009653931
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Choice, deferral, and consistency
Costa-Gomes, Miguel A.; Cueva, Carlos; Gerasimou, Georgios - In: Quantitative Economics 13 (2022) 3, pp. 1297-1318
We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is … the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice … subjects in the nonforced-choice treatment are generally more consistent. We also find that the combined deferral and active-choice …
Persistent link: https://www.econbiz.de/10014536896
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Estimating Individual Ambiguity Aversion: A Simple Approach
Gneezy, Uri; Imas, Alex; List, John A. - 2015
We introduce a simple, easy to implement instrument for jointly eliciting risk and ambiguity attitudes. Using this instrument, we structurally estimate a two-parameter model of preferences. Our findings indicate that ambiguity aversion is significantly overstated when risk neutrality is assumed....
Persistent link: https://www.econbiz.de/10010500387
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Cooperation and mistrust in relational contracts
Herz, Holger; Schmutzler, Armin; Volk, André - 2016
Work and trade relationships are often governed by relational contracts, in which incentives for cooperative action today stem from the prospective future benefits of the relationship. In this paper, we study how reductions in clarity about the financial consequences of actions, induced by...
Persistent link: https://www.econbiz.de/10011663192
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Cooperation and Mistrust in Relational Contracts
Herz, Holger; Schmutzler, Armin; Volk, André - 2016
Work and trade relationships are often governed by relational contracts, in which incentives for cooperative action today stem from the prospective future benefits of the relationship. In this paper, we study how reductions in clarity about the financial consequences of actions, induced by...
Persistent link: https://www.econbiz.de/10011522545
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Estimating Individual Ambiguity Aversion: A Simple Approach
Gneezy, Uri; Imas, Alex; List, John A. - CESifo - 2015
We introduce a simple, easy to implement instrument for jointly eliciting risk and ambiguity attitudes. Using this instrument, we structurally estimate a two-parameter model of preferences. Our findings indicate that ambiguity aversion is significantly overstated when risk neutrality is assumed....
Persistent link: https://www.econbiz.de/10011185623
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Estimating individual ambiguity aversion : a simple approach
Genîzî, Ûrî; Imas, Alex; List, John A. - 2015
We introduce a simple, easy to implement instrument for jointly eliciting risk and ambiguity attitudes. Using this instrument, we structurally estimate a two-parameter model of preferences. Our findings indicate that ambiguity aversion is significantly overstated when risk neutrality is assumed....
Persistent link: https://www.econbiz.de/10010483592
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Choice, deferral, and consistency
Costa‐Gomes, Miguel A.; Cueva, Carlos; Gerasimou, Georgios - In: Quantitative economics : QE ; journal of the … 13 (2022) 3, pp. 1297-1318
We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is … the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice … subjects in the nonforced‐choice treatment are generally more consistent. We also find that the combined deferral and active‐choice …
Persistent link: https://www.econbiz.de/10013382078
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Cooperation and mistrust in relational contracts
Herz, Holger; Schmutzler, Armin; Volk, André - 2016
Work and trade relationships are often governed by relational contracts, in which incentives for cooperative action today stem from the prospective future benefits of the relationship. In this paper, we study how reductions in clarity about the financial consequences of actions, induced by...
Persistent link: https://www.econbiz.de/10011521953