Investigation to Stochastic Preference Theory Using Exeprimental Data

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Investigation to Stochastic Preference Theory Using Exeprimental Data

Author Info

Carbone, E.

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Enrica Carbone

Abstract

This paper investigates the relative empirical performance of 3 stories of error' in decision-making 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

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Publisher Info
Paper provided by Economics Research Centre, University of East Anglia, School of Economics and Social Studies in its series University of East Anglia - Economics Research Centre with number 9701.

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Length: 19 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:eanerc:9701

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Find related papers by JEL classification:
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models

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