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Foundations of the Rank-Dependent Probability Weighting Function

Rablen, Matthew D. - 2019

The psychological basis for rank-dependent probability weighting, and for an inverse-S probability weighting function (PWF) in particular, has often been questioned. I examine the existence and shape of the PWF in a model allowing for optimism/pessimism over probability distributions and for...

Persistent link: https://www.econbiz.de/10012860507

Nonresponse and Focal Point Answers to Subjective Probability Questions

Kleinjans, Kristin J. - 2010

We develop and estimate a panel data model explaining the answers to questions about subjective probabilities, using data from the US Health and Retirement Study. We explicitly account for nonresponse, rounding, and focal point 50 percent answers. Our results indicate that for three of the four...

Persistent link: https://www.econbiz.de/10013136709

A Theory for Ranking Distribution Functions

Aaberge, Rolf - 2014

rather than another.In this paper, we develop a theory for ranking distribution functions. Our theory offers a general … distribution theory for empirical dominance criteria where it is demonstrated that the associated empirical processes converge in …

Persistent link: https://www.econbiz.de/10013061933

Gambling Habits and Probability Judgements in a Bayesian Task Environment

Dickinson, David L.; Reid, Parker - 2023

-gamblers). Our data failed to support our main hypotheses that experienced online gamblers would be more accurate Bayesian decision … comparisons between these types of participants also failed to show any difference in decision weights placed on the two …-reported gambling frequency was stronger for females. Decision modeling found a decreased weight placed on new evidence (over base rate …

Persistent link: https://www.econbiz.de/10014346673

Testing for Restricted Stochastic Dominance

Davidson, Russell; Duclos, Jean-Yves - 2006

Asymptotic and bootstrap tests are studied for testing whether there is a relation of stochastic dominance between two distributions. These tests have a null hypothesis of nondominance, with the advantage that, if this null is rejected, then all that is left is dominance. This also leads us to...

Persistent link: https://www.econbiz.de/10014059083

Back to Bentham, Should We? Large-Scale Comparison of Experienced Versus Decision Utility

Akay, Alpaslan - 2017

', SWB has recently been compared to 'decision utility' using specific experiments, most often based on stated preferences …

Persistent link: https://www.econbiz.de/10012948690

The Subjective Inflation Expectations of Households and Firms : Measurement, Determinants, and Implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022

Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...

Persistent link: https://www.econbiz.de/10014030510

Independent Individual Decision-Makers in Household Models and the New Home Economics

Grossbard, Shoshana Amyra - 2010

individual models presented in his theory of marriage. Decision-making models assuming independent individual household members …Much of the recent literature in household economics has been critical of unitary models of household decision … discusses another alternative: independent individual models of decision-making that don't make any specific assumptions of …

Persistent link: https://www.econbiz.de/10013139037

Bargaining Over Babies : Theory, Evidence, and Policy Implications

Doepke, Matthias - 2016

It takes a woman and a man to make a baby. This fact suggests that for a birth to take place, the parents should first agree on wanting a child. Using newly available data on fertility preferences and outcomes, we show that indeed, babies are likely to arrive only if both parents desire one, and...

Persistent link: https://www.econbiz.de/10012996539

The Effect of Language on Economic Behavior : Experimental Evidence from Children's Intertemporal Choices

Sutter, Matthias - 2015

According to Chen's (2013) linguistic-savings hypothesis, languages which grammatically separate the future and the present (like English or Italian) induce less future-oriented behavior than languages in which speakers can refer to the future by using present tense (like German). We complement...

Persistent link: https://www.econbiz.de/10013014019