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We study the problem of elicitation of subjective beliefs of an agent when the beliefs are ambiguous (the set of beliefs is a non-singleton set) and the agent's preference exhibits ambiguity aversion; in particular, as represented by alpha-maxmin preferences. We construct a direct revelation...
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Informed by Grether and Plott (1979) and Cox and Grether (1996), we implement various preference elicitation procedures over a parameter grid. First, we find a lower incidence of preference reversals for probability equivalents from the dual-to-selling version of Becker, Degroot, and Marschak (1964;...
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Can differences in cognitive reflection explain other-regarding behavior? To test this, I use the three-item Cognitive Reflection Task to classify individuals as intuitive or reflective and correlate this measure with choices in three games that each subject participates in. The main sample...
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distributional preferences. This could be problematic as contextual variance may inadvertently muddle the measurement process. We use …, people may behave as if they would perform a non-strategic decision making task when in fact they are playing a proper game …
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Adaptive decision making in real-world contexts often relies on strategic simplifications of decision problems. Yet … decision-making task, we dissociate brain regions that predict specific choices fromthose predictingan individual’s preferred …, predicted individual variability in strategic preferences. Finally, we demonstrate that robust decision strategies follow from …
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