Investigation of stochastic preference theory using experimental data

被引：23

作者：

Carbone, E ^{[1
]}

机构：

[1] Univ York, Dept Econ & Related Studies, York YO1 5DD, N Yorkshire, England

来源：

ECONOMICS LETTERS | 1997年 / 57卷 / 03期

关键词：

decision making; risk; error; noise; stochastic preference;

D O I：

10.1016/S0165-1765(97)00244-9

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates the relative empirical performance of 3 stories of 'error' in decision-making in experiments finding that the constant-error-probability story does not fit particularly well, but that the white noise and stochastic preference stories perform considerably better. The paper concludes by suggesting ways of testing between these two. (C) 1997 Elsevier Science S.A.

引用

页码：305 / 311

页数：7

共 4 条

[1] A COMPARISON OF THE ESTIMATES OF EXPECTED UTILITY AND NON-EXPECTED-UTILITY PREFERENCE FUNCTIONALS [J].

CARBONE, E ;

HEY, JD .

GENEVA PAPERS ON RISK AND INSURANCE THEORY, 1995, 20 (01) :111-133

[2] THE PREDICTIVE UTILITY OF GENERALIZED EXPECTED UTILITY THEORIES [J].

HARLESS, DW ;

CAMERER, CF .

ECONOMETRICA, 1994, 62 (06) :1251-1289

[3] INVESTIGATING GENERALIZATIONS OF EXPECTED UTILITY-THEORY USING EXPERIMENTAL-DATA [J].

HEY, JD ;

ORME, C .

ECONOMETRICA, 1994, 62 (06) :1291-1326

[4] INCORPORATING A STOCHASTIC ELEMENT INTO DECISION THEORIES [J].

LOOMES, G ;

SUGDEN, R .

EUROPEAN ECONOMIC REVIEW, 1995, 39 (3-4) :641-648

← 1 →