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Imprecision as an Account of the Preference Reversal Phenomenon

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Cited by:

  1. David J Butler, 2018. "Phishing holidays," Tourism Economics, , vol. 24(6), pages 690-700, September.
  2. Giuseppe Attanasi & Nikolaos Georgantzís & Valentina Rotondi & Daria Vigani, 2018. "Lottery- and survey-based risk attitudes linked through a multichoice elicitation task," Theory and Decision, Springer, vol. 84(3), pages 341-372, May.
  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. Sergio Sousa, 2010. "Small-scale changes in wealth and attitudes toward risk," Discussion Papers 2010-11, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  5. Loomes, Graham & Starmer, Chris & Sugden, Robert, 2010. "Preference reversals and disparities between willingness to pay and willingness to accept in repeated markets," Journal of Economic Psychology, Elsevier, vol. 31(3), pages 374-387, June.
  6. Pope, Devin G. & Pope, Jaren C. & Sydnor, Justin R., 2015. "Focal points and bargaining in housing markets," Games and Economic Behavior, Elsevier, vol. 93(C), pages 89-107.
  7. Graham Loomes & Shepley Orr & Robert Sugden, 2009. "Taste uncertainty and status quo effects in consumer choice," Journal of Risk and Uncertainty, Springer, vol. 39(2), pages 113-135, October.
  8. Harin, Alexander, 2013. "A non-zero dispersion leads to the non-zero bias of mean," MPRA Paper 47559, University Library of Munich, Germany.
  9. Younjun Kim & Elizabeth Hoffman, 2018. "Pre‐Play Learning and the Preference Reversal Phenomenon," Southern Economic Journal, John Wiley & Sons, vol. 85(2), pages 599-615, October.
  10. Graham Loomes, 2005. "Modelling the Stochastic Component of Behaviour in Experiments: Some Issues for the Interpretation of Data," Experimental Economics, Springer;Economic Science Association, vol. 8(4), pages 301-323, December.
  11. Drouvelis, Michalis & Sonnemans, Joep, 2017. "The endowment effect in games," European Economic Review, Elsevier, vol. 94(C), pages 240-262.
  12. Harin, Alexander, 2023. "To solve old problems of economics. The experimental background," MPRA Paper 117157, University Library of Munich, Germany.
  13. Birnbaum, Michael H. & Schmidt, Ulrich, 2010. "Allais paradoxes can be reversed by presenting choices in canonical split form," Kiel Working Papers 1615, Kiel Institute for the World Economy (IfW Kiel).
  14. Andreas Pondorfer & Katrin Rehdanz, 2018. "Eliciting Preferences for Public Goods in Nonmonetized Communities: Accounting for Preference Uncertainty," Land Economics, University of Wisconsin Press, vol. 94(1), pages 73-86.
  15. Graham Loomes & Ganna Pogrebna, 2017. "Do Preference Reversals Disappear When We Allow for Probabilistic Choice?," Management Science, INFORMS, vol. 63(1), pages 166-184, January.
  16. Yudistira Permana, 2020. "Why do people prefer randomisation? An experimental investigation," Theory and Decision, Springer, vol. 88(1), pages 73-96, February.
  17. Raúl López-Pérez & Eli Spiegelman, 2020. "Using Eye-Tracking Techniques To Understand The Role Of Attention On Choice And Reversals," Working Papers 2001, Instituto de Políticas y Bienes Públicos (IPP), CSIC.
  18. Carlos Alós-Ferrer & Alexander Jaudas & Alexander Ritschel, 2021. "Attentional shifts and preference reversals: An eye-tracking study," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 16(1), pages 57-93, January.
  19. Bleichrodt, Han & Filko, Martin, 2008. "New tests of QALYs when health varies over time," Journal of Health Economics, Elsevier, vol. 27(5), pages 1237-1249, September.
  20. Oben Kurtulus Bayrak & John Hey, 2015. "Preference Cloud Theory: Imprecise Preferences and Preference Reversals," 2015 Papers pba1276, Job Market Papers.
  21. Grebitus, Carola & Lusk, Jayson L. & Nayga, Rodolfo M., 2013. "Explaining differences in real and hypothetical experimental auctions and choice experiments with personality," Journal of Economic Psychology, Elsevier, vol. 36(C), pages 11-26.
  22. Bayrak, Oben, 2016. "Another Solution for Allais Paradox: Preference Imprecision, Dispersion and Pessimism," MPRA Paper 71780, University Library of Munich, Germany.
  23. Drew Fudenberg & David K. Levine & Zacharias Maniadis, 2012. "On the Robustness of Anchoring Effects in WTP and WTA Experiments," American Economic Journal: Microeconomics, American Economic Association, vol. 4(2), pages 131-145, May.
  24. José Luis Pinto‐Prades & Fernando Ignacio Sánchez‐Martínez & José María Abellán‐Perpiñán & Jorge E. Martínez‐Pérez, 2018. "Reducing preference reversals: The role of preference imprecision and nontransparent methods," Health Economics, John Wiley & Sons, Ltd., vol. 27(8), pages 1230-1246, August.
  25. Harin, Alexander, 2018. "Forbidden zones for the expectation. New mathematical results for behavioral and social sciences," MPRA Paper 86650, University Library of Munich, Germany.
  26. Michael H. Birnbaum & Ulrich Schmidt & Miriam D. Schneider, 2017. "Testing independence conditions in the presence of errors and splitting effects," Journal of Risk and Uncertainty, Springer, vol. 54(1), pages 61-85, February.
  27. Mel Win Khaw & Ziang Li & Michael Woodford, 2021. "Cognitive Imprecision and Small-Stakes Risk Aversion [Linear Mapping of Numbers onto Space Requires Attention]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(4), pages 1979-2013.
  28. Benjamin Enke & Thomas Graeber, 2019. "Cognitive Uncertainty," CESifo Working Paper Series 7971, CESifo.
  29. Braga, Jacinto & Humphrey, Steven J. & Starmer, Chris, 2009. "Market experience eliminates some anomalies--and creates new ones," European Economic Review, Elsevier, vol. 53(4), pages 401-416, May.
  30. David J. Freeman & Guy Mayraz, 2019. "Why choice lists increase risk taking," Experimental Economics, Springer;Economic Science Association, vol. 22(1), pages 131-154, March.
  31. Castillo, Geoffrey, 2020. "The attraction effect and its explanations," Games and Economic Behavior, Elsevier, vol. 119(C), pages 123-147.
  32. Eike B. Kroll & Bodo Vogt, 2008. "The Relevance of Irrelevant Alternatives: An experimental investigation of risky choices," FEMM Working Papers 08028, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
  33. Matthew P. Taylor, 2020. "Liking the long-shot … but just as a friend," Journal of Risk and Uncertainty, Springer, vol. 61(3), pages 245-261, December.
  34. Joyce E Berg & John W Dickhaut & Thomas A Rietz, 2004. "Preference Reversals: The Impact of Truth-Revealing Incentives," Levine's Bibliography 122247000000000571, UCLA Department of Economics.
  35. Michael H. Birnbaum & Lucy Wan, 2020. "MARTER: Markov True and Error model of drifting parameters," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 15(1), pages 47-73, January.
  36. Hammond, Peter J & Zank, Horst, 2013. "Rationality and Dynamic Consistency under Risk and Uncertainty," The Warwick Economics Research Paper Series (TWERPS) 1033, University of Warwick, Department of Economics.
  37. Michał Jakubczyk & Dominik Golicki, 2020. "Elicitation and modelling of imprecise utility of health states," Theory and Decision, Springer, vol. 88(1), pages 51-71, February.
  38. Guo, Liang, 2021. "Contextual deliberation and the choice-valuation preference reversal," Journal of Economic Theory, Elsevier, vol. 195(C).
  39. 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).
  40. Pavlo R. Blavatskyy, 2010. "Reverse Common Ratio Effect," IEW - Working Papers 478, Institute for Empirical Research in Economics - University of Zurich.
  41. Nathaniel T. Wilcox, 2015. "Error and Generalization in Discrete Choice Under Risk," Working Papers 15-11, Chapman University, Economic Science Institute.
  42. Sergio Sousa, 2010. "Small-scale changes in wealth and attitudes toward risk," Discussion Papers 2010-11, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  43. Oben K Bayrak & Bengt Kriström, 2016. "Is there a valuation gap? The case of interval valuations," Economics Bulletin, AccessEcon, vol. 36(1), pages 218-236.
  44. Carlos Alós-Ferrer & Alexander Ritschel, 2022. "Attention and salience in preference reversals," Experimental Economics, Springer;Economic Science Association, vol. 25(3), pages 1024-1051, June.
  45. Sean Horan & Paola Manzini & Marco Mariotti, 2018. "Precision May Harm: The Comparative Statics of Imprecise Judgement," Working Paper Series 1518, Department of Economics, University of Sussex Business School.
  46. Sergio Beraldo & Valerio Filoso & Marco Stimolo, 2014. "The Shaping Power of Market Prices and Individual Choices on Preferences. An Experimental Investigation," Discussion Papers 2014/191, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
  47. David Hendry, 2010. "Climate Change: Lessons for our Future from the Distant Past," Economics Series Working Papers 485, University of Oxford, Department of Economics.
  48. Pavlo Blavatskyy, 2021. "A simple non-parametric method for eliciting prospect theory's value function and measuring loss aversion under risk and ambiguity," Theory and Decision, Springer, vol. 91(3), pages 403-416, October.
  49. Kniebes, Carola & Rehdanz, Katrin & Schmidt, Ulrich, 2014. "Validity of WTP measures under preference uncertainty," Kiel Working Papers 1972, Kiel Institute for the World Economy (IfW Kiel).
  50. Isoni, Andrea & Brooks, Peter & Loomes, Graham & Sugden, Robert, 2016. "Do markets reveal preferences or shape them?," Journal of Economic Behavior & Organization, Elsevier, vol. 122(C), pages 1-16.
  51. Marek Kapera, 2022. "Learning own preferences through consumption," KAE Working Papers 2022-074, Warsaw School of Economics, Collegium of Economic Analysis.
  52. Ball, Linden J. & Bardsley, Nicholas & Ormerod, Tom, 2012. "Do preference reversals generalise? Results on ambiguity and loss aversion," Journal of Economic Psychology, Elsevier, vol. 33(1), pages 48-57.
  53. Harin, Alexander, 2014. "Problems of utility and prospect theories. A ”certain-uncertain” inconsistency of the random-lottery incentive system," MPRA Paper 55706, University Library of Munich, Germany.
  54. Berg, Joyce E. & Dickhaut, John W. & Rietz, Thomas A., 2010. "Preference reversals: The impact of truth-revealing monetary incentives," Games and Economic Behavior, Elsevier, vol. 68(2), pages 443-468, March.
  55. Marina Agranov & Pietro Ortoleva, 2021. "Ranges of Randomization," Working Papers 2021-72, Princeton University. Economics Department..
  56. Butler, David & Loomes, Graham, 2011. "Imprecision as an account of violations of independence and betweenness," Journal of Economic Behavior & Organization, Elsevier, vol. 80(3), pages 511-522.
  57. Alexander Harin, 2013. "Data dispersion near the boundaries: can it partially explain the problems of decision and utility theories?," Working Papers hal-00851022, HAL.
  58. Harin, Alexander, 2019. "Forbidden zones for the expectations of measurement data and problems of behavioral economics," MPRA Paper 91368, University Library of Munich, Germany.
  59. 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.
  60. Harin, Alexander, 2018. "Inequalities and zones. New mathematical results for behavioral and social sciences," MPRA Paper 90326, University Library of Munich, Germany.
  61. Harin, Alexander, 2018. "Forbidden zones and biases for the expectation of a random variable. Version 2," MPRA Paper 85607, University Library of Munich, Germany.
  62. Decancq, Koen & Nys, Annemie, 2021. "Non-parametric well-being comparisons," European Economic Review, Elsevier, vol. 133(C).
  63. Nathaniel T. Wilcox, 2017. "Random expected utility and certainty equivalents: mimicry of probability weighting functions," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 3(2), pages 161-173, December.
  64. Yoram Halevy & David Walker-Jones & Lanny Zrill, 2023. "Difficult Decisions," Working Papers tecipa-753, University of Toronto, Department of Economics.
  65. Carola Braun & Katrin Rehdanz & Ulrich Schmidt, 2016. "Validity of Willingness to Pay Measures under Preference Uncertainty," PLOS ONE, Public Library of Science, vol. 11(4), pages 1-17, April.
  66. Miguel A. Costa‐Gomes & Carlos Cueva & Georgios Gerasimou & Matúš Tejiščák, 2022. "Choice, deferral, and consistency," Quantitative Economics, Econometric Society, vol. 13(3), pages 1297-1318, July.
  67. Spencer, Anne & Rivero-Arias, Oliver & Wong, Ruth & Tsuchiya, Aki & Bleichrodt, Han & Edwards, Rhiannon Tudor & Norman, Richard & Lloyd, Andrew & Clarke, Philip, 2022. "The QALY at 50: One story many voices," Social Science & Medicine, Elsevier, vol. 296(C).
  68. David Butler, 2012. "A choice for ‘me’ or for ‘us’? Using we-reasoning to predict cooperation and coordination in games," Theory and Decision, Springer, vol. 73(1), pages 53-76, July.
  69. repec:cup:judgdm:v:16:y:2021:i:1:p:57-93 is not listed on IDEAS
  70. Zhihua Li & Graham Loomes, 2022. "Revisiting the diagnosis of intertemporal preference reversals," Journal of Risk and Uncertainty, Springer, vol. 64(1), pages 19-41, February.
  71. Beraldo, Sergio & Filoso, Valerio & Marco, Stimolo, 2013. "Endogenous Preferences and Conformity: Evidence From a Pilot Experiment," MPRA Paper 48539, University Library of Munich, Germany.
  72. Harin, Alexander, 2015. "An existence theorem for restrictions on the mean in the presence of a restriction on the dispersion," MPRA Paper 64646, University Library of Munich, Germany.
  73. Qiu, Jianying, 2015. "Completing incomplete preferences," MPRA Paper 72933, University Library of Munich, Germany, revised 18 Jul 2016.
  74. Harin, Alexander, 2014. "Problems of utility and prospect theories. Certainty effect near certainty," MPRA Paper 61026, University Library of Munich, Germany.
  75. Hela Maafi, 2011. "Preference Reversals Under Ambiguity," Management Science, INFORMS, vol. 57(11), pages 2054-2066, November.
  76. Harin, Alexander, 2018. "Forbidden zones for the expectation of a random variable. New version 1," MPRA Paper 84248, University Library of Munich, Germany.
  77. Kim, Younjun, 2015. "Essays on firm location decisions, regional development and choices under risk," ISU General Staff Papers 201501010800005579, Iowa State University, Department of Economics.
  78. Harin, Alexander, 2014. "Problems of utility and prospect theories. A discontinuity of Prelec’s function," MPRA Paper 61027, University Library of Munich, Germany.
  79. Pavlo Blavatskyy, 2014. "Stronger utility," Theory and Decision, Springer, vol. 76(2), pages 265-286, February.
  80. Cettolin, Elena & Riedl, Arno, 2019. "Revealed preferences under uncertainty: Incomplete preferences and preferences for randomization," Journal of Economic Theory, Elsevier, vol. 181(C), pages 547-585.
  81. Harin, Alexander, 2014. "Is data interpretation in utility and prospect theories unquestionably correct?," MPRA Paper 53880, University Library of Munich, Germany.
  82. repec:cup:judgdm:v:13:y:2018:i:3:p:217-236 is not listed on IDEAS
  83. Benjamin Enke & Thomas W. Graeber, 2021. "Cognitive Uncertainty in Intertemporal Choice," CESifo Working Paper Series 9472, CESifo.
  84. Charles-Cadogan, G., 2021. "Incoherent Preferences," CRETA Online Discussion Paper Series 69, Centre for Research in Economic Theory and its Applications CRETA.
  85. David Butler & Andrea Isoni & Graham Loomes, 2012. "Testing the ‘standard’ model of stochastic choice under risk," Journal of Risk and Uncertainty, Springer, vol. 45(3), pages 191-213, December.
  86. José Luis Pinto‐Prades & José Antonio Robles‐Zurita & Fernando‐Ignacio Sánchez‐Martínez & José María Abellán‐Perpiñán & Jorge Martínez‐Pérez, 2017. "Improving scope sensitivity in contingent valuation: Joint and separate evaluation of health states," Health Economics, John Wiley & Sons, Ltd., vol. 26(12), pages 304-318, December.
  87. Brebner, Sarah & Sonnemans, Joep, 2018. "Does the elicitation method impact the WTA/WTP disparity?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 73(C), pages 40-45.
  88. Arts, Sara & Ong, Qiyan & Qiu, Jianying, 2020. "Measuring subjective decision confidence," MPRA Paper 117907, University Library of Munich, Germany.
  89. Harin, Alexander, 2015. "Is Prelec’s function discontinuous at p = 1? (for the Einhorn Award of SJDM)," MPRA Paper 64672, University Library of Munich, Germany.
  90. Broberg, Thomas & Brännlund, Runar, 2008. "An alternative interpretation of multiple bounded WTP data--Certainty dependent payment card intervals," Resource and Energy Economics, Elsevier, vol. 30(4), pages 555-567, December.
  91. Pavlo R. Blavatskyy, 2011. "A Model of Probabilistic Choice Satisfying First-Order Stochastic Dominance," Management Science, INFORMS, vol. 57(3), pages 542-548, March.
  92. Robin Cubitt & Daniel Navarro-Martinez & Chris Starmer, 2015. "On preference imprecision," Journal of Risk and Uncertainty, Springer, vol. 50(1), pages 1-34, February.
  93. Kim Kaivanto & Eike Kroll, 2014. "Alternation bias and reduction in St. Petersburg gambles," Working Papers 65600286, Lancaster University Management School, Economics Department.
  94. repec:cup:judgdm:v:15:y:2020:i:1:p:47-73 is not listed on IDEAS
  95. David Butler & Andrea Isoni & Graham Loomes & Kei Tsutsui, 2014. "Beyond choice: investigating the sensitivity and validity of measures of strength of preference," Experimental Economics, Springer;Economic Science Association, vol. 17(4), pages 537-563, December.
  96. Pawel Dziewulski, 2021. "A comprehensive revealed preference approach to approximate utility maximisation," Working Paper Series 0621, Department of Economics, University of Sussex Business School.
  97. Qiu, Jianying, 2015. "Completing incomplete preferences," MPRA Paper 91692, University Library of Munich, Germany, revised 18 Jul 2016.
  98. Attema, Arthur E. & Brouwer, Werner B.F., 2013. "In search of a preferred preference elicitation method: A test of the internal consistency of choice and matching tasks," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 126-140.
  99. Kroll, Eike Benjamin & Vogt, Bodo, 2012. "The relevance of irrelevant alternatives," Economics Letters, Elsevier, vol. 115(3), pages 435-437.
  100. Arts, Sara & Ong, Qiyan & Qiu, Jianying, 2020. "Measuring subjective decision confidence," MPRA Paper 106811, University Library of Munich, Germany.
  101. Pavlo Blavatskyy, 2009. "Preference reversals and probabilistic decisions," Journal of Risk and Uncertainty, Springer, vol. 39(3), pages 237-250, December.
  102. Pavlo R. Blavatskyy, 2024. "Harmonic choice model," Theory and Decision, Springer, vol. 96(1), pages 49-69, February.
  103. Harin, Alexander, 2015. "Problems of utility and prospect theories. A “certain–uncertain” inconsistency within their experimental methods," MPRA Paper 67911, University Library of Munich, Germany.
  104. Sean, Duffy & John, Smith, 2023. "Stochastic choice and imperfect judgments of line lengths: What is hiding in the noise?," MPRA Paper 116382, University Library of Munich, Germany.
  105. Horan, Sean & Manzini, Paola & Mariotti, Marco, 2022. "When is coarseness not a curse? Comparative statics of the coarse random utility model," Journal of Economic Theory, Elsevier, vol. 202(C).
  106. Carlos Alós-Ferrer & Johannes Buckenmaier & Michele Garagnani, 2020. "Stochastic choice and preference reversals," ECON - Working Papers 370, Department of Economics - University of Zurich, revised Jul 2021.
  107. Pavlo Blavatskyy, 2010. "Reverse common ratio effect," Journal of Risk and Uncertainty, Springer, vol. 40(3), pages 219-241, June.
  108. Harin, Alexander, 2021. "Behavioral economics. Forbidden zones. New method and models," MPRA Paper 106545, University Library of Munich, Germany.
  109. Pavlo Blavatskyy, 2021. "Probabilistic independence axiom," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 46(1), pages 21-34, March.
  110. Raffaello Seri & Samuele Centorrino & Michele Bernasconi, 2019. "Nonparametric Estimation and Inference in Economic and Psychological Experiments," Papers 1904.11156, arXiv.org, revised Dec 2019.
  111. Blavatskyy, Pavlo R., 2012. "The Troika paradox," Economics Letters, Elsevier, vol. 115(2), pages 236-239.
  112. Jonathan Chapman & Mark Dean & Pietro Ortoleva & Erik Snowberg & Colin Camerer, 2020. "Econographics," Working Papers 2020-75, Princeton University. Economics Department..
  113. David J. Butler & Ganna Pogrebna, 2018. "Predictably intransitive preferences," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 13(3), pages 217-236, May.
  114. Jonathan Chapman & Mark Dean & Pietro Ortoleva & Erik Snowberg & Colin Camerer, 2021. "On the Relation between Willingness to Accept and Willingness to Pay," Working Papers 2021-90, Princeton University. Economics Department..
  115. Graham Loomes & José Luis Pinto-Prades & Jose Maria Abellan-Perpinan & Eva Rodriguez-Miguez, 2010. "Modelling Noise and Imprecision in Individual Decisions," Working Papers 10.03, Universidad Pablo de Olavide, Department of Economics.
  116. Hammond, Peter J. & Zank, Horst, 2013. "Rationality and Dynamic Consistency under Risk and Uncertainty," Economic Research Papers 270426, University of Warwick - Department of Economics.
  117. 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.
  118. Pavlo R. Blavatskyy, 2020. "Dual choice axiom and probabilistic choice," Journal of Risk and Uncertainty, Springer, vol. 61(1), pages 25-41, August.
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