المستودع الأكاديمي جامعة المدينة

An experimental investigation of violations of transitivity in choice under uncertainty

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dc.creator Birnbaum, Michael H.
dc.creator Schmidt, Ulrich
dc.date 2008
dc.date.accessioned 2013-10-16T06:05:36Z
dc.date.available 2013-10-16T06:05:36Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/4133
dc.identifier ppn:557506964
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/4133
dc.description Several models of choice under uncertainty imply systematic violations of transitivity of preference. Our experiments explored whether people show patterns of intransitivity predicted by these models. To distinguish "true" violations from those produced by "error", a model was fit in which each choice can have a different error rate and each person can have a different pattern of true preferences that does not need to be transitive. Error rate for a choice is estimated from preference reversals between repeated presentations of the same choice. Our results showed that very few people repeated intransitive patterns. We can retain the hypothesis that transitivity best describes the data of the vast majority of participants.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kiel working paper 1396
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject C91
dc.subject D81
dc.subject ddc:330
dc.subject Decision making
dc.subject Errors
dc.subject Regret theory
dc.subject Transitivity
dc.subject Entscheidung bei Risiko
dc.subject Präferenztheorie
dc.subject Experiment
dc.subject Theorie
dc.title An experimental investigation of violations of transitivity in choice under uncertainty
dc.type doc-type:workingPaper


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