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How Politicians Make Decisions: A Political Choice Experiment

  • Enrique Fatás


  • Tibor Neugebauer
  • Pilar Tamborero

The present paper reports on a political choice experiment with elected real-world politicians. A questionnaire on political and public issues is taken to examine whether prospect theory predicts the responses of experts from the field better than rational choice theory. The results indicate that framing effects exist but that expertise may weaken the deviation from rational choice.

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Paper provided by Institute for Social Syudies of Andalusia - Higher Council for Scientific Research in its series IESA Working Papers Series with number 0410.

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Length: 34 pages
Date of creation: 2004
Date of revision:
Handle: RePEc:esa:iesawp:0410
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  8. Fagley, N. S. & Miller, Paul M., 1987. "The effects of decision framing on choice of risky vs certain options," Organizational Behavior and Human Decision Processes, Elsevier, vol. 39(2), pages 264-277, April.
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  11. Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
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  16. Samuelson, William & Zeckhauser, Richard, 1988. " Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
  17. Dyer, D. & Kagel, J.H. & Levin, D., 1988. "A Comparison Of Naive And Experienced Bidders In Common Value Offer Auctions A Laboratory Analysis," Papers 11, Houston - Department of Economics.
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