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An experimental investigation of violations of transitivity in choice under uncertainty
Birnbaum, Michael H.; Schmidt, Ulrich - 2008
Several models of choice under uncertainty imply systematic violations of transitivity of preference. Our experiments … patterns. We can retain the hypothesis that transitivity best describes the data of the vast majority of participants. …
Persistent link: https://www.econbiz.de/10010273147
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Empirical Tests of Intransitivity Predicted by Models of Risky Choice
Birnbaum, Michael H.; Schmidt, Ulrich - 2006
Recently proposed models of risky choice imply systematic violations of transitivity of preference. Five studies … repeated intransitive patterns. We can retain the hypothesis that transitivity best describes the data of the vast majority of …
Persistent link: https://www.econbiz.de/10010296263
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Empirical Tests of Intransitivity Predicted by Models of Risky Choice
Birnbaum, Michael H.; Schmidt, Ulrich - Institut für Volkswirtschaftslehre, … - 2006
Recently proposed models of risky choice imply systematic violations of transitivity of preference. Five studies … repeated intransitive patterns. We can retain the hypothesis that transitivity best describes the data of the vast majority of …
Persistent link: https://www.econbiz.de/10005082856
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Transitivity in health utility measurement: An experimental analysis
Schmidt, Ulrich; Stolpe, Michael - 2008
Several experimental studies observed substantial violations of transitivity in decisions between risky lotteries over …. A particular feature of our experimental design is that it takes into account the possible role of decision errors in … generating violations of transitivity. Since we find neither substantial nor systematic deviations from transitive choice …
Persistent link: https://www.econbiz.de/10010278001
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Transitivity in Health Utility Measurement: An Experimental Analysis
Schmidt, Ulrich; Stolpe, Michael - Institut für Weltwirtschaft (IfW) - 2008
Several experimental studies observed substantial violations of transitivity in decisions between risky lotteries over …. A particular feature of our experimental design is that it takes into account the possible role of decision errors in … generating violations of transitivity. Since we find neither substantial nor systematic deviations from transitive choice …
Persistent link: https://www.econbiz.de/10005700534
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An experimental investigation of violations of transitivity in choice under uncertainty
Birnbaum, Michael; Schmidt, Ulrich - In: Journal of Risk and Uncertainty 37 (2008) 1, pp. 77-91
Persistent link: https://www.econbiz.de/10005809609
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Axiom preferences and choice mistakes under risk
Herweg, Fabian; Hippel, Svenja; Müller, Daniel; … - 2024
We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true preferences. First, we elicit axiom and gamble preferences and then allow subjects to revise their potentially conflicting preferences. Among the behavioral patterns that allow for...
Persistent link: https://www.econbiz.de/10014556632
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Context-dependent risk preferences and decoy effects
Herweg, Fabian; Müller, Daniel; Özgümüs, Asri; … - 2025
We present a theory of context-dependent risk preferences under which within-state payoff comparisons and regret aversion shape decisions. Defining the attraction and compromise effect in reference to a state-space-based description of the choice problem, we show that our theory can account for...
Persistent link: https://www.econbiz.de/10015182570
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Information acquisition and decisions under risk and ambiguity
Bergheim, Ralf - 2014
This paper experimentally investigates individual information acquisition and decisions in ambiguous situations in which the degree of ambiguity can endogenously and individually be decreased by the subjects. In particular, I analyze how risk aversion, ambiguity attitude and personality traits...
Persistent link: https://www.econbiz.de/10010357825
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Intuition and reasoning in choosing ambiguous and risky lotteries
Bergheim, Ralf; Roos, Michael W. M. - 2013
This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a novel experimental design which may help to tackle open questions from a fresh perspective. Instead of giving subjects the choice between risky and ambiguous Ellsberg urns, we let...
Persistent link: https://www.econbiz.de/10010188142