Positive confirmation in rational and irrational learning
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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Volume (Year): 37 (2008)
Issue (Month): 3 (June)
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References listed on IDEAS
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- Martin Jones & Robert Sugden, 2000.
"Positive Confirmation Bias in the Acquisition of Information,"
Dundee Discussion Papers in Economics
115, Economic Studies, University of Dundee.
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"Money does Not Induce Risk Neutral Behavior, but Binary Lotteries Do even Worse,"
Discussion Paper Serie B
343, University of Bonn, Germany.
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