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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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Behavioral Ordering, Competition and Profits : An Experimental Investigation
Quiroga, Bernardo F. - 2019
We investigate the impact of behavioral ordering on profits under competition. Specifically, we use controlled laboratory experiments to evaluate the differences in profits between a behavioral competitor (where a human places orders), and a management science-driven competitor (where orders are...
Persistent link: https://www.econbiz.de/10012904634
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Evaluation of Econometric Models of Adaptive Learning by Predictive Measures
Chernov, Gregory - 2020
Game-theoretic models of learning are hard to study even in the laboratory setting due to econometric and practical concerns (like the limited length of an experimental session).In particular, as the simulations by (Salmon, 2001) show, in a cross-model (or "blind'') testing of several models,...
Persistent link: https://www.econbiz.de/10012827651
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A novel approach to incubator evaluations : the PROMETHEE outranking procedures
Schwartz, Michael; Göthner, Maximilian - 2009
Considerable public resources are devoted to the establishment and operation of business incubators (BIs), which are seen as catalysts for the promotion of entrepreneurship, innovation activities and regional development. Despite the vast amount of research that has focused on the outcomes or...
Persistent link: https://www.econbiz.de/10003825748
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When are signals complements or substitutes?
Börgers, Tilman; Hernando-Veciana, Ángel; Kröhmer, Daniel - 2010
The paper introduces a notion of complementarity (substitutability) of two signals which requires that in all decision problems each signal becomes more (less) valuable when the other signal becomes available. We provide a general characterization which relates complementarity and...
Persistent link: https://www.econbiz.de/10008665186
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Conditions for quantum interference in cognitive sciences
Jukalov, Vjačeslav I.; Sornette, Didier - 2013
We present a general classification of the conditions under which cognitive science, concerned e.g. with decision making, requires the use of quantum theoretical notions. The analysis is done in the frame of the mathematical approach based on the theory of quantum measurements. We stress that...
Persistent link: https://www.econbiz.de/10009751180
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The sequencing problem in sequential investigation processes
Kretschmer, Jürgen-Peter - 2011
Many decision problems in various fields of application can be characterized as diagnostic problems trying to assess the true state (of the world) of given cases. The investigation of assessment criteria improves the initial information according to observed signal outcomes, which are related to...
Persistent link: https://www.econbiz.de/10008936420
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Optimal Decision Rules for Product Recalls
Sezer, Ali Devin - 2012
We consider a hypothetical company that is assumed to have just manufactured and sold a number of copies of a product. It is known that, with a small probability, the company has committed a manufacturing fault that will require a recall. The company is able to observe the expiration times of...
Persistent link: https://www.econbiz.de/10013116101
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Shadow Probability Theory for Asset Pricing under Ambiguity
Izhakian, Yehuda (Yud) - 2011
Assuming that probabilities (capacities) of events are random, this paper introduces a novel model of decision making under ambiguity, called Shadow probability theory, a generalization of the Choquet expected utility. In this model, probabilities of observable events in a subordinated...
Persistent link: https://www.econbiz.de/10013119880