Negative recency, randomization device choice, and reduction of compound lotteries

Kaivanto, Kim and Kroll, Eike B. (2012) Negative recency, randomization device choice, and reduction of compound lotteries. Economics Letters, 115 (2). pp. 263-267. ISSN 0165-1765

Full text not available from this repository.

Abstract

We report an experiment in which subjects are not indifferent between real-money lotteries implemented with randomization devices that are equivalent under the Reduction Axiom. Instead, choice behavior is consistent with subjective distortion of conditional probability, and this persists in treatment conditions that control for (i) computational limitations and (ii) possible confounding by ratio bias.

Item Type:
Journal Article
Journal or Publication Title:
Economics Letters
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/aacsb/disciplinebasedresearch
Subjects:
?? ECONOMICSFINANCEECONOMICS AND ECONOMETRICSHB ECONOMIC THEORYDISCIPLINE-BASED RESEARCH ??
ID Code:
55655
Deposited By:
Deposited On:
10 Jul 2012 10:42
Refereed?:
Yes
Published?:
Published
Last Modified:
17 Sep 2023 01:06