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We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments the participants often choose lotteries between allocations, which contradicts most theories of choice such as...
Persistent link: https://www.econbiz.de/10010757728
We investigate violations of consequentialism in the form of the stochastic dominance property. The property is shared by many theories of choice and implies that the decision-maker prefers receiving the best outcome for sure over all lotteries that involve multiple outcomes. We run experiments...
Persistent link: https://www.econbiz.de/10010602091
Persistent link: https://www.econbiz.de/10010982305
We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments our participants often choose a stochastically dominated lottery between outcomes, contradicting most theories of...
Persistent link: https://www.econbiz.de/10010982308
We investigate violations of consequentialism in the form of the stochastic dominance property. The property is shared by many theories of choice and implies that the decision-maker prefers receiving the best outcome for sure over all lotteries that involve multiple outcomes. We run experiments...
Persistent link: https://www.econbiz.de/10010318784
We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments the participants often choose lotteries between allocations, which contradicts most theories of choice such as...
Persistent link: https://www.econbiz.de/10010352389
We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments our participants often choose a stochastically dominated lottery between outcomes, contradicting most theories of...
Persistent link: https://www.econbiz.de/10010352469
We empirically investigate the possibility that a decision maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. A large data set from the centralized clearinghouse for university admissions in Germany shows a choice pattern of applicants...
Persistent link: https://www.econbiz.de/10012143455
Persistent link: https://www.econbiz.de/10012035983
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