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Revealing a Preference for Mixtures : An Experimental Study of Risk

Feldman, Paul - 2020

Using a revealed preference approach, we conduct an experiment where subjects make choices from linear convex budgets …

Persistent link: https://www.econbiz.de/10012840794

Revealed preferences over risk and uncertainty

Polisson, Matthew; Quah, John K.-H.; Renou, Ludovic - 2017

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

Revealed preferences over risk and uncertainty

Polisson, Matthew; Quah, John K.-H.; Renou, Ludovic - 2015

Consider a finite data set where each observation consists of a bundle of contingent consumption chosen by an agent from a constraint set of such bundles. We develop a general procedure for testing the consistency of this data set with a broad class of models of choice under risk and under...

Persistent link: https://www.econbiz.de/10011345795

The two faces of independence : betweenness and homotheticity

Burghart, Daniel R.; Epper, Thomas; Fehr, Ernst - 2014

revealed preference experiment, and without making any parametric assumptions, we show that 1/3 of participants belong in the …

Persistent link: https://www.econbiz.de/10010430733

Measuring price risk aversion through indirect utility functions : a laboratory experiment

Zeytoon-Nejad, Ali - In: Games 13 (2022) 4, pp. 1-43

prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper … introduces the main elements of the duality theory (DT) in economics. Next, it proposes the context of IUFs as a suitable … experiment using a series of relevant statistical tests. This study uses the multiple price list (MPL) method, which has been one …

Persistent link: https://www.econbiz.de/10013368182

Revealing Risky Mistakes through Revisions

Breig, Zachary; Feldman, Paul - 2021

experiment, we allow subjects to choose from budgets over binary lotteries. To identify mistakes, which we interpret as …

Persistent link: https://www.econbiz.de/10013312429

Risky curves : from unobservable utility to observable opportunity sets

Friedman, Daniel; Sunder, Shyam - 2011

. Petersburg Paradox ; decisions under uncertainty ; option theory …

Persistent link: https://www.econbiz.de/10009151813

Risky Curves : From Unobservable Utility to Observable Opportunity Sets

Friedman, Daniel - 2017

Most theories of risky choice postulate that a decision maker maximizes the expectation of a Bernoulli (or utility or similar) function. We tour 60 years of empirical search and conclude that no such functions have yet been found that are useful for out-of-sample prediction. Nor do we find...

Persistent link: https://www.econbiz.de/10012975977

Revealed Preferences for Risk and Ambiguity

Brown, Donald J.; Erdman, Chandra; Ling, Kirsten; … - 2012

We replicate the essentials of the Huettel et al. (2006) experiment on choice under uncertainty with 30 Yale …

Persistent link: https://www.econbiz.de/10014189074

Changing with the tide : semi-parametric estimation of preference dynamics

Dekker, Thijs; Koster, Paul; Brouwer, Roy - 2013

Persistent link: https://www.econbiz.de/10010191399