Testing Explanations of Preference Reversal: a Model
AbstractWhen Cubitt, Munro and Starmer (2004) presented their new experimental investigation of preference reversal, they pointed out that their test results cannot be explained by any of the best-known explanations proposed by economists and psychologists. In this paper we propose a model based on lotteries qualities to explain these new test results.
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Bibliographic InfoPaper provided by CIRPEE in its series Cahiers de recherche with number 0510.
Date of creation: 2005
Date of revision:
Standard preference reversal; counter preference reversal; choice task; money valuation task; probability valuation task; lottery; test;
Find related papers by JEL classification:
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-05-07 (All new papers)
- NEP-CBE-2005-05-07 (Cognitive & Behavioural Economics)
- NEP-EXP-2005-05-07 (Experimental Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Drazen Prelec, 1998. "The Probability Weighting Function," Econometrica, Econometric Society, vol. 66(3), pages 497-528, May.
- Gregory W. Fischer & Ziv Carmon & Dan Ariely & Gal Zauberman, 1999. "Goal-Based Construction of Preferences: Task Goals and the Prominence Effect," Management Science, INFORMS, vol. 45(8), pages 1057-1075, August.
- Amos Tversky & Daniel Kahneman, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Levine's Working Paper Archive
7656, David K. Levine.
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- Yves Alarie & Georges Dionne, 2006.
Cahiers de recherche
- L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
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- Robin P. Cubitt & Alistair Munro & Chris Starmer, 2004. "Testing explanations of preference reversal," Economic Journal, Royal Economic Society, vol. 114(497), pages 709-726, 07.
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