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Common consequence effects with pricing data

Schmidt, Ulrich; Trautmann, Stefan T. - 2010

-to-pay (WTP), and willingness-to-accept (WTA). Consistent with previous research we do not find clearcut evidence of fanning out … in the absence of certainty effects. Violation rates of EU are more pronounced for WTP and WTA than for choice data … common consequence effects and provide support for the operation of cancellation in prospect theory. …

Persistent link: https://www.econbiz.de/10010278005

Common consequence effects in pricing and choice

Schmidt, Ulrich; Trautmann, Stefan - In: Theory and Decision 76 (2014) 1, pp. 1-7

, Econometrica 50:277–323, <CitationRef CitationID="CR14">1982</CitationRef>) for both WTP and WTA. In contrast, the choice data do …This paper presents an experimental study of common consequence effects in binary choice, willingness-to-pay (WTP …) elicitation, and willingness-to-accept (WTA) elicitation. We find strong evidence in favor of the fanning out hypothesis (Machina …

Persistent link: https://www.econbiz.de/10010988743

Common consequence effects in pricing and choice

Schmidt, Ulrich; Trautmann, Stefan T. - In: Theory and decision : an international journal for … 76 (2014) 1, pp. 1-7

Persistent link: https://www.econbiz.de/10010344883

An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data

Morone, Andrea; Schmidt, Ulrich - 2006

Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar analysis which relies on pricing data instead of...

Persistent link: https://www.econbiz.de/10010296261

An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data

Schmidt, Ulrich; Morone, Andrea - 2003

Persistent link: https://www.econbiz.de/10010278003

An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data

Morone, Andrea; Schmidt, Ulrich - Wirtschaftswissenschaftliche Fakultät, Leibniz … - 2003

Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative non-expected utility theories. The present paper performs a similar analysis which relies on pricing data instead...

Persistent link: https://www.econbiz.de/10005464744

An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data

Morone, Andrea; Schmidt, Ulrich - Institut für Volkswirtschaftslehre, … - 2006

Persistent link: https://www.econbiz.de/10005082826

An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data

Morone, Andrea; Schmidt, Ulrich - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2005

Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative non-expected utility theories. The present paper performs a similar analysis which relies on pricing data instead...

Persistent link: https://www.econbiz.de/10005252188

Noise and bias in eliciting preferences

Hey, John Denis; Morone, Andrea; Schmidt, Ulrich - 2007

In the context of eliciting preferences for decision making under risk, we ask the question: "which might be the 'best' method for eliciting such preferences?". It is well known that different methods differ in terms of the bias in the elicitation; it is rather less well-known that different...

Persistent link: https://www.econbiz.de/10010272943

What have we learnt about Loss Aversion and Endowment Effects? Still an anomaly?

Dalton, Patricio Santiago - EconWPA - 2003

This paper presents an insight into the theoretical and empirical literature of Loss Aversion and Endowment Effect. The definition and conceptualisation of both ideas is introduced in order to define a framework for further analysis. Their presence implies a radical change in some of the basic...

Persistent link: https://www.econbiz.de/10005077088