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Positive confirmation in rational and irrational learning

  • Jones, Martin K.

A new experiment is reported which tests for positive confirmation bias when subjects learn about a rule. The experiment reveals strong evidence of positive confirmation bias and corresponding violations of expected utility. This evidence for positive confirmation not only covers the search for evidence but also the use of it in making decisions. These results are consistent with and expand on previous results on the subject.

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File URL: http://www.sciencedirect.com/science/article/B6W5H-4N7Y8B6-1/1/2312ec4aecf1809a37f43e5216f204a6
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Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

Volume (Year): 37 (2008)
Issue (Month): 3 (June)
Pages: 1029-1046

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Handle: RePEc:eee:soceco:v:37:y:2008:i:3:p:1029-1046
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/620175

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  1. Selten, Reinhard & Abdolkarim Sadrieh & Klaus Abbink, 1995. "Money does Not Induce Risk Neutral Behavior, but Binary Lotteries Do even Worse," Discussion Paper Serie B 343, University of Bonn, Germany.
  2. Loomes, Graham & Sugden, Robert, 1995. "Incorporating a stochastic element into decision theories," European Economic Review, Elsevier, vol. 39(3-4), pages 641-648, April.
  3. Martin Jones & Robert Sugden, 2001. "Positive confirmation bias in the acquisition of information," Theory and Decision, Springer, vol. 50(1), pages 59-99, February.
  4. Borgers, Tilman, 1996. "On the Relevance of Learning and Evolution to Economic Theory," Economic Journal, Royal Economic Society, vol. 106(438), pages 1374-85, September.
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