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Are Revealed Intentions Possible?

Author

Listed:
  • John HEY

    (Department of Economics, University of York, York YO10 5DD, United Kingdom)

  • Carmen PASCA

    (LUISS Italy)

Abstract

This paper asks whether it is possible to design an Intentions Revealing Experiment – that is, an experiment in which the early moves of the decision maker in a dynamic decision problem reveal the intentions of that decision maker regarding later moves in the decision problem. If such a type of experiment is possible, then it will enable economists to test whether individuals have plans and implement them – a basic assumption of all economic theories of dynamic decision making. Unfortunately the main finding of the paper is in the form of two Impossibility Theorems which show that, unless one is prepared to make certain assumptions, such an Intentions Revealing Experiment is impossible. However, the paper does have a positive side – it describes the type of assumptions that one needs to make in order to make an Intentions Revealing Experiment possible.

Suggested Citation

  • John HEY & Carmen PASCA, 2010. "Are Revealed Intentions Possible?," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 5, pages 73-89, June.
    • Handle: RePEc:aic:revebs:y:2010:i:5:heyj
    as

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    File URL: http://rebs.ro/resource/REBS_5/Research%20Papers/Hey,J,%20Pasca,C%20%97%20Are%20Revealed%20Intentions%20Possible.pdf
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    More about this item

    Keywords

    crisis; Romania; strategy; inversion;
    All these keywords.

    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
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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