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.Official URL: http://dx.doi.org/10.1016/j.econlet.2011.12.078
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: | Article |
|---|---|
| Journal or Publication Title: | Economics Letters |
| Subjects: | H Social Sciences > HB Economic Theory |
| Departments: | Lancaster University Management School > Economics |
| ID Code: | 55655 |
| Deposited By: | ep_importer_pure |
| Deposited On: | 10 Jul 2012 11:42 |
| Refereed?: | Yes |
| Published?: | Published |
| Last Modified: | 26 Jul 2012 20:41 |
| Identification Number: | |
| URI: | http://eprints.lancs.ac.uk/id/eprint/55655 |
Actions (login required)
| View Item |
