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Persistent link: https://www.econbiz.de/10013459910
laboratory experiment. -- Afriat’s theorem ; deterministic preferences ; decisions under risk ; experimental economcics …
Persistent link: https://www.econbiz.de/10003950963
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/10009580236
We report the results of a combination of a dictator experiment with either a "social planner" or a "veil of ignorance …" experiment. The experimental design and the analysis of the data are based on the theoretical framework proposed in the companion … Agreement and Symmetry axioms proposed in BHH; we find that for 80% of participants the evidence is very strong. The experiment …
Persistent link: https://www.econbiz.de/10010370990
the experiment. Hence for so-called induced budget experiments the Generalized Axiom of Revealed Preference is a necessary …
Persistent link: https://www.econbiz.de/10011563010
the experiment. Hence for so-called induced budget experiments the Generalized Axiom of Revealed Preference is a necessary …
Persistent link: https://www.econbiz.de/10012979522
We report the results of a combination of a dictator experiment with either a “social planner” or a “veil of ignorance …” experiment. The experimental design and the analysis of the data are based on the theoretical framework proposed in the companion … Agreement and Symmetry axioms proposed in BHH; we find that for 80% of participants the evidence is very strong. The experiment …
Persistent link: https://www.econbiz.de/10010192931
We propose an instrument to measure individuals' social preferences regarding equity and efficiency behind a veil of ignorance. We pair portfolio and wealth distribution choice problems which have a common budget set. For a given bundle, the distribution over an individual's wealth is the same...
Persistent link: https://www.econbiz.de/10011928322
in a Monte Carlo experiment. The proposed method is applied to the estimation of a cigarette demand function …
Persistent link: https://www.econbiz.de/10003459712
In this paper we introduce a new flexible mixed model for multinomial discrete choice where the key individual- and alternative-specific parameters of interest are allowed to follow an assumptionfree nonparametric density specification while other alternative-specific coefficients are assumed to...
Persistent link: https://www.econbiz.de/10003746887