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Reconsidering the common ratio effect : the roles of compound independence, reduction, and coalescing
Schmidt, Ulrich; Seidl, Christian - 2014
Common ratio effects should be ruled out if subjects' preferences satisfy compound independence, reduction of compound … lotteries, and coalescing. In other words, at least one of these axioms should be violated in order to generate a common ratio … observation of common ratio effects.We observe that compound independence and reduction of compound lotteries hold, whereas …
Persistent link: https://www.econbiz.de/10010367224
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Reconsidering the common ratio effect : the roles of compound independence, reduction, and coalescing
Schmidt, Ulrich; Seidl, Christian - In: Theory and decision : an international journal for … 77 (2014) 3, pp. 323-339
Persistent link: https://www.econbiz.de/10010481151
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Allais paradoxes can be reversed by presenting choices in canonical split form
Birnbaum, Michael H.; Schmidt, Ulrich - 2010
coalescing, the assumption that when two branches lead to the same consequence, they can be combined by adding their …
Persistent link: https://www.econbiz.de/10010278006
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Testing independence conditions in the presence of errors and splitting effects
Birnbaum, Michael H.; Schmidt, Ulrich; Schneider, Miriam D. - 2010
This paper presents an experimental test of several independence conditions implied by expected utility and alternative models. We perform a repeated choice experiment and fit an error model that allows us to discriminate between true violations of independence and those that can be attributed...
Persistent link: https://www.econbiz.de/10010278007
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The impact of experience on violations of independence and coalescing : conference paper
Birnbaum, Michael H.; Schmidt, Ulrich - 2014
functionals from round to round. Instead, we focus on choice problems allowing for direct tests of independence and coalescing. We … show that variability of responses as well as violations of independence and coalescing decrease from earlier to later …
Persistent link: https://www.econbiz.de/10010486756
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Allais Paradoxes Can be Reversed by Presenting Choices in Canonical Split Form
Birnbaum, Michael H.; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2010
coalescing, the assumption that when two branches lead to the same consequence, they can be combined by adding their …
Persistent link: https://www.econbiz.de/10008631616
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Consumer Search : Not Enough or Too Much?
Zwick, Rami; Rapoport, Amnon; Lo, Alison King; … - 2001
We study search behavior in a generalized "secretary problem" environment in which consumers search sequentially for the best alternative from a known and finite set of multi-attribute alternatives. In contrast to most previous studies, we make no distributional assumptions about the quality of...
Persistent link: https://www.econbiz.de/10014034631
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Paradoxes and mechanisms for choice under risk
Cox, James C.; Sadiraj, Vjollca; Schmidt, Ulrich - 2011
provides data for tests for portfolio effect, wealth effect, reduction, adding up, and cross-task contamination. Data from …
Persistent link: https://www.econbiz.de/10010285720
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Paradoxes and Mechanisms for Choice under Risk
Cox, James C.; Sadiraj, Vjollca; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2011
provides data for tests for portfolio effect, wealth effect, reduction, adding up, and cross-task contamination. Data from …
Persistent link: https://www.econbiz.de/10009144796
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Anticipated regret and self-esteem in the Allais paradox
PETIT, Emmanuel; TCHERKASSOF, Anna; GASSMANN, Xavier - Groupe de Recherche en Économie Théorique et … - 2011
Our experiment aims at studying the impact of self-esteem on risk-prone choices in an Allais-type decision context using hypothetical money. We use an Internet protocol in order to reach a large heterogeneous student population sample. An anticipated regret explanation for the certainty effect...
Persistent link: https://www.econbiz.de/10009147152