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Time Will Tell : Recovering Preferences When Choices are Noisy
Alós-Ferrer, Carlos - 2019
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10012892249
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Time Will Tell : Recovering Preferences When Choices are Noisy
Alós-Ferrer, Carlos - 2018
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10012907827
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Time Will Tell : Recovering Preferences when Choices Are Noisy
Alós-Ferrer, Carlos - 2020
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10012851055
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Time will tell : recovering preferences when choices are noisy
Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2020 - This version: June 2020
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10012243088
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Time will tell : recovering preferences when choices are noisy
Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2018
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10011946760
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Time will tell : recovering preferences when choices are noisy
Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2018 - This version: October 2018
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10011929616
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Time will tell : recovering preferences when choices are noisy
Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2018 - This version: October 2018
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it...
Persistent link: https://www.econbiz.de/10011926039
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On reputation : a microfoundation of contract enforcement and price rigidity
Fehr, Ernst (contributor); Brown, Martin (contributor);  … - 2008
price rigidity. Reputation powerfully amplifies the positive effects of social preferences on contract enforcement by … interactions, suggesting that it may aggravate price rigidities. Surprisingly, reputation in fact weakens the wage and price …. -- Reputation ; reciprocity ; relational contracts ; price rigidity ; wage rigidity …
Persistent link: https://www.econbiz.de/10003750306
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The ambiguity triangle : uncovering fundamental patterns of behavior under uncertainty
Burghart, Daniel R.; Epperly, Thomas G. W.; Fehr, Ernst - 2015
characterize this heterogeneity with finite-mixture estimates of a one-parameter extension of Expected Utility Theory wherein 48 …
Persistent link: https://www.econbiz.de/10011289313
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The two faces of independence : betweenness and homotheticity
Burghart, Daniel R.; Epper, Thomas; Fehr, Ernst - 2014
Many studies document failures of expected utility’s key assumption, the independence axiom. Here, we show that independence can be decomposed into two distinct axioms - betweenness and homotheticity - and that these two axioms are necessary and sufficient for independence. Thus, independence...
Persistent link: https://www.econbiz.de/10010430733