Similar Search Results

Jiao, Peiran - 2019

. I experimentally test this mechanism and find behaviour consistent with its predictions. The experiment created a …

Persistent link: https://www.econbiz.de/10012901924

The ambiguity triangle : uncovering fundamental patterns of behavior under uncertainty

Burghart, Daniel R.; Epperly, Thomas G. W.; Fehr, Ernst - 2015

The probability triangle (also called the Marschak-Machina triangle) allows for compact and intuitive depictions of risk preferences. Here, we develop an analogous tool for choice under uncertainty - the ambiguity triangle - and show that indifference curves in this triangle capture preferences...

Persistent link: https://www.econbiz.de/10011289313

Stochastic Dominance and Nonparametric Comparative Revealed Risk Aversion

Heufer, Jan - 2012

It is shown how to test revealed preference data on choices under uncertainty for consistency with first and second order stochastic dominance (FSD or SSD). The axiom derived for SSD is a necessary and sufficient condition for risk aversion. If an investor is risk averse, stochastic dominance...

Persistent link: https://www.econbiz.de/10014175928

Efficient institutions and effective deterrence: on timing and uncertainty of formal sanctions

Buckenmaier, Johannes; Dimant, Eugen; Posten, Ann-Christin - 2021

of punishment. This paper presents the first controlled experiment to study a third important factor that has been mainly …

Persistent link: https://www.econbiz.de/10012438420

Subjective Probability Assessment in Decision Analysis : Partition Dependence and Bias Toward the Ignorance Prior

Fox, Craig R.; Clemen, Robert T. - 2005

Decision and risk analysts have considerable discretion in designing procedures for eliciting subjective probabilities … experts in decision analysis are susceptible to this bias (Study 5). We relate our work to previous research on the "pruning …, demand effects) cannot fully account for partition dependence. We conclude by discussing implications for decision analysis …

Persistent link: https://www.econbiz.de/10014063777

Axiomatization of a Preference for Most Probably Winner

Blavatskyy, Pavlo R. - 2005

In binary choice between discrete outcome lotteries, an individual may prefer lottery 1 L to lottery 2 L when the probability that 1 L delivers a better outcome than 2 L is higher than the probability that 2 L delivers a better outcome than 1 L. Such a preference can be rationalized by three...

Persistent link: https://www.econbiz.de/10014065926

Axiomatization of a Preference for Most Probable Winner

Blavatskyy, Pavlo R. - 2005

In binary choice between discrete outcome lotteries, an individual may prefer lottery L1 to lottery L2 when the probability that L1 delivers a better outcome than L2 is higher than the probability that L2 delivers a better outcome than L1. Such a preference can be rationalized by three standard...

Persistent link: https://www.econbiz.de/10014066999

Assigning Subjective Probabilities to Event Trees : Partition Dependence and Bias Toward the Ignorance Prior

Fox, Craig R.; Clemen, Robert T. - 2004

Decision and risk analysts have considerable discretion in designing procedures for eliciting subjective probabilities … or may not disappear) with increased domain knowledge (Studies 3 & 4), and that top experts in decision analysis are … implications for decision-analysis practice …

Persistent link: https://www.econbiz.de/10014070400

Revealed Preferences for Risk and Ambiguity

Brown, Donald; Erdman, Chandra; Ling, Kirsten; Santos, … - 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

Sequential Search with Ex Post Uncertainty

Li, Yilin; Zhao, Shuchen - 2022

our theory in a laboratory experiment with a search game to track subjects' behavior and use a multiple price list and a …

Persistent link: https://www.econbiz.de/10014082556