STOCHASTIC CHOICE WITH DETERMINISTIC PREFERENCES - AN EXPERIMENTAL INVESTIGATION

被引：25

作者：

HEY, JD

CARBONE, E

机构：

[1] Department of Economics, University of York, York

来源：

ECONOMICS LETTERS | 1995年 / 47卷 / 02期

关键词：

STOCHASTIC CHOICE; DETERMINISTIC PREFERENCES;

D O I：

10.1016/0165-1765(94)00533-8

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Most theories of decision-making under risk imply deterministic choice, yet actual choice appears to be stochastic, the resulting discrepancy being attributed to 'error'. This paper explores an alternative explanation - in which preferences are deterministic but choice is stochastic. Whilst being more satisfying from a theoretical perspective, our results show that the empirical performance is far from satisfactory.

引用

页码：161 / 167

页数：7