A target-based foundation for the "hard-easy effect" bias
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Abadir, Karim M., 2005. "The Mean-Median-Mode Inequality: Counterexamples," Econometric Theory, Cambridge University Press, vol. 21(02), pages 477-482, April.
- 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.
- Marvin H. Berhold, 1973. "The Use of Distribution Functions to Represent Utility Functions," Management Science, INFORMS, vol. 19(7), pages 825-829, March.
- Marco LiCalzi, 2005. "A language for the construction of preferences under uncertainty," Game Theory and Information 0509002, EconWPA.
- Erio Castagnoli & Marco LiCalzi, 2005. "Expected utility without utility," Game Theory and Information 0508004, EconWPA.
- Stephen V. Burks & Jeffrey P. Carpenter & Lorenz Goette & Aldo Rustichini, 2013. "Overconfidence and Social Signalling," Review of Economic Studies, Oxford University Press, vol. 80(3), pages 949-983.
- R. Preston Mcafee & Hugo M. Mialon & Sue H. Mialon, 2010. "Do Sunk Costs Matter?," Economic Inquiry, Western Economic Association International, vol. 48(2), pages 323-336, April.
- Kahneman, Daniel & Tversky, Amos, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Econometrica,
Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Arvid Hoffmann & Sam Henry & Nikos Kalogeras, 2013. "Aspirations as reference points: an experimental investigation of risk behavior over time," Theory and Decision, Springer, vol. 75(2), pages 193-210, August.
- Robert Bordley & Marco LiCalzi, 2000. "Decision analysis using targets instead of utility functions," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 23(1), pages 53-74.
- Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
- Ludwig, Sandra & Wichardt, Philipp C. & Wickhorst, Hanke, 2011.
"Overconfidence can improve an agent's relative and absolute performance in contests,"
Economics Letters,
Elsevier, vol. 110(3), pages 193-196, March.
- Ludwig, Sandra & Wichardt, Philipp C. & Wickhorst, Hanke, 2010. "Overconfidence Can Improve an Agent's Relative and Absolute Performance in Contests," Discussion Papers in Economics 11885, University of Munich, Department of Economics.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Barron, Kai & Gravert, Christina, 2018.
"Confidence and Career Choices: An Experiment,"
Working Papers in Economics
715, University of Gothenburg, Department of Economics.
- Barron, Kai & Gravert, Christina, 2018. "Confidence and career choices: An experiment," Discussion Papers, Research Unit: Economics of Change SP II 2018-301, Social Science Research Center Berlin (WZB).
- Barron, Kai & Gravert, Christina, 2018. "Beliefs and actions: How a shift in confidence affects choices," MPRA Paper 84743, University Library of Munich, Germany.
More about this item
Keywords
Expected utility; Hard-easy effect bias; Endowment effect bias; Sunk cost effect bias; Benchmarking procedure; Loss-gain asymmetry; van Zwet skewness conditions;JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
NEP fields
This paper has been announced in the following NEP Reports:- NEP-ALL-2014-11-17 (All new papers)
- NEP-CBE-2014-11-17 (Cognitive & Behavioural Economics)
- NEP-MIC-2014-11-17 (Microeconomics)
- NEP-UPT-2014-11-17 (Utility Models & Prospect Theory)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vnm:wpdman:94. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marco LiCalzi). General contact details of provider: http://edirc.repec.org/data/mdvenit.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.