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Do non-expected utility choice patterns spring from hazy preferences? An experimental study of choice 'errors'

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  • Butler, D. J.

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  • Butler, D. J., 2000. "Do non-expected utility choice patterns spring from hazy preferences? An experimental study of choice 'errors'," Journal of Economic Behavior & Organization, Elsevier, vol. 41(3), pages 277-297, March.
    • Handle: RePEc:eee:jeborg:v:41:y:2000:i:3:p:277-297
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    1. Harless, David W, 1992. "Actions versus Prospects: The Effect of Problem Representation on Regret," American Economic Review, American Economic Association, vol. 82(3), pages 634-649, June.
    2. Leland, Jonathan W, 1994. "Generalized Similarity Judgments: An Alternative Explanation for Choice Anomalies," Journal of Risk and Uncertainty, Springer, vol. 9(2), pages 151-172, October.
    3. Sirkka L. Jarvenpaa, 1989. "The Effect of Task Demands and Graphical Format on Information Processing Strategies," Management Science, INFORMS, vol. 35(3), pages 285-303, March.
    4. Humphrey, Steven J, 1995. "Regret Aversion or Event-Splitting Effects? More Evidence under Risk and Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 11(3), pages 263-274, December.
    5. Loomes, Graham, 1998. "Probabilities vs Money: A Test of Some Fundamental Assumptions about Rational Decision Making," Economic Journal, Royal Economic Society, vol. 108(447), pages 477-489, March.
    6. Buschena, David & Zilberman, David, 1995. "Performance of the Similarity Hypothesis Relative to Existing Models of Risky Choice," Journal of Risk and Uncertainty, Springer, vol. 11(3), pages 233-262, December.
    7. Friedman, Daniel, 1989. "The S-Shaped Value Function as a Constrained Optimum," American Economic Review, American Economic Association, vol. 79(5), pages 1243-1248, December.
    8. L. Robin Keller, 1985. "The Effects of Problem Representation on the Sure-Thing and Substitution Principles," Management Science, INFORMS, vol. 31(6), pages 738-751, June.
    9. Starmer, Chris & Sugden, Robert, 1993. "Testing for Juxtaposition and Event-Splitting Effects," Journal of Risk and Uncertainty, Springer, vol. 6(3), pages 235-254, June.
    10. John D. Hey & Chris Orme, 2018. "Investigating Generalizations Of Expected Utility Theory Using Experimental Data," World Scientific Book Chapters, in: Experiments in Economics Decision Making and Markets, chapter 3, pages 63-98, World Scientific Publishing Co. Pte. Ltd..
    11. Machina, Mark J, 1989. "Dynamic Consistency and Non-expected Utility Models of Choice under Uncertainty," Journal of Economic Literature, American Economic Association, vol. 27(4), pages 1622-1668, December.
    12. Starmer, Chris & Sugden, Robert, 1991. "Does the Random-Lottery Incentive System Elicit True Preferences? An Experimental Investigation," American Economic Review, American Economic Association, vol. 81(4), pages 971-978, September.
    13. Butler, David J., 1998. "A choice-rule formulation of intransitive utility theory," Economics Letters, Elsevier, vol. 59(3), pages 323-329, June.
    14. Loomes, Graham & Sugden, Robert, 1987. "Some implications of a more general form of regret theory," Journal of Economic Theory, Elsevier, vol. 41(2), pages 270-287, April.
    15. Ballinger, T Parker & Wilcox, Nathaniel T, 1997. "Decisions, Error and Heterogeneity," Economic Journal, Royal Economic Society, vol. 107(443), pages 1090-1105, July.
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    Cited by:

    1. Duffy, Sean & Gussman, Steven & Smith, John, 2021. "Visual judgments of length in the economics laboratory: Are there brains in stochastic choice?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 93(C).
    2. Joost M. E. Pennings & Ale Smidts, 2003. "The Shape of Utility Functions and Organizational Behavior," Management Science, INFORMS, vol. 49(9), pages 1251-1263, September.
    3. Duffy, Sean & Smith, John, 2020. "An economist and a psychologist form a line: What can imperfect perception of length tell us about stochastic choice?," MPRA Paper 99417, University Library of Munich, Germany.
    4. D.J. Butler, 2000. "Accounting for Heterogeneous Choices in One-shot Prisoner's Dilemma and Chicken Games," Economics Discussion / Working Papers 00-22, The University of Western Australia, Department of Economics.
    5. Pennings, Joost M.E. & Garcia, Philip, 2004. "Strategic Risk Management Behavior: What Can Utility Functions Tell Us?," 2004 Annual meeting, August 1-4, Denver, CO 20388, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Di Caprio, Debora & Santos-Arteaga, Francisco J., 2011. "Cardinal versus ordinal criteria in choice under risk with disconnected utility ranges," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 588-594.
    7. Duffy, Sean & Gussman, Steven & Smith, John, 2019. "Judgments of length in the economics laboratory: Are there brains in choice?," MPRA Paper 93126, University Library of Munich, Germany.
    8. Yoram Halevy & David Walker-Jones & Lanny Zrill, 2023. "Difficult Decisions," Working Papers tecipa-753, University of Toronto, Department of Economics.
    9. Terry Connolly & David Butler, 2002. "Searching for the "Regret" in "Regret Theory"," Economics Discussion / Working Papers 02-04, The University of Western Australia, Department of Economics.
    10. Aurora García-Gallego & Nikolaos Georgantzís & Daniel Navarro-Martínez & Gerardo Sabater-Grande, 2011. "The stochastic component in choice and regression to the mean," Theory and Decision, Springer, vol. 71(2), pages 251-267, August.

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