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The Allais critique of expected utility theory (EUT) has led to the development of theories of choice under risk that … labora-tory experiments designed to test independence, our experiment systematically tests the entire set of axioms …
Persistent link: https://www.econbiz.de/10012583551
We develop a nonparametric procedure, called the lattice method, for testing the consistency of contingent consumption data with a broad class of models of choice under risk and under uncertainty. Our method allows for risk loving and elation seeking behavior and can be used to calculate, via...
Persistent link: https://www.econbiz.de/10011671892
Low-quality infrastructure services are persistent in developing countries, a situation mainly affecting the poorest households in contexts of high rates of informal access and heavily subsidized services. This paper exploits choice experiments, specifically designed for formal and informal...
Persistent link: https://www.econbiz.de/10011715694
with salience effects," and "rational shortlist methods." The theory avoids background assumptions made for mathematical …
Persistent link: https://www.econbiz.de/10009655796
Persistent link: https://www.econbiz.de/10003370456
In the context of the two-stage threshold model of decision making, with the agent's choices determined by the interaction of three "structural variables," we study the restrictions on behavior that arise when one or more variables are exogenously known. Our results supply necessary and...
Persistent link: https://www.econbiz.de/10011446163
This paper examines how the different characteristics of both electric vehicles themselves and the consumers would influence the consumption behavior on electric vehicles. Data collection is based on the questionnaire design using the orthogonal experimental method and large-scale stated...
Persistent link: https://www.econbiz.de/10010189320
Persistent link: https://www.econbiz.de/10011776042
We use a unique dataset that combines the responses from an original survey of households, information about the structural characteristics of their homes, utility-provided longitudinal electricity usage records, plus utility program participation information, to study the uptake of energy...
Persistent link: https://www.econbiz.de/10010189312
in a Monte Carlo experiment. The proposed method is applied to the estimation of a cigarette demand function …
Persistent link: https://www.econbiz.de/10003459712