Rationality with preference discovery costs
Author
Abstract
Suggested Citation
DOI: 10.1007/s11238-017-9628-6
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- David M. Grether & James C. Cox, 1996.
"The preference reversal phenomenon: Response mode, markets and incentives (*),"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(3), pages 381-405.
- Cox, James C. & Grether, David M., 1993. "The Preference Reversal Phenomenon: Response Mode, Markets and Incentives," Working Papers 810, California Institute of Technology, Division of the Humanities and Social Sciences.
- Smith, Vernon L & Walker, James M, 1993. "Monetary Rewards and Decision Cost in Experimental Economics," Economic Inquiry, Western Economic Association International, vol. 31(2), pages 245-261, April.
- 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.
- Jacinto Braga & Steven Humphrey & Chris Starmer, 2006. "Market Experience Eliminates Some Anomalies – And Creates New Ones," Discussion Papers 2006-19, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Robin M. Hogarth & Natalia Karelaia, 2005.
"Simple Models for Multiattribute Choice with Many Alternatives: When It Does and Does Not Pay to Face Trade-offs with Binary Attributes,"
Management Science, INFORMS, vol. 51(12), pages 1860-1872, December.
- Robin Hogarth & Natalia Karelaia, 2004. "Simple models for multi-attribute choice with many alternatives: When it does and does not pay to face tradeoffs with binary attributes," Economics Working Papers 739, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2005.
- Daniel Kahneman & Amos Tversky, 2013.
"Prospect Theory: An Analysis of Decision Under Risk,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127,
World Scientific Publishing Co. Pte. Ltd..
- 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.
- Afriat, Sidney N, 1972. "Efficiency Estimation of Production Function," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 13(3), pages 568-598, October.
- John Conlisk, 1996. "Why Bounded Rationality?," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 669-700, June.
- Evans, George W & Ramey, Garey, 1992. "Expectation Calculation and Macroeconomic Dynamics," American Economic Review, American Economic Association, vol. 82(1), pages 207-224, March.
- Graham Loomes & Chris Starmer & Robert Sugden, 2003.
"Do Anomalies Disappear in Repeated Markets?,"
Economic Journal, Royal Economic Society, vol. 113(486), pages 153-166, March.
- Loomes, Graham & Chris Starmer & Robert Sugden, 2002. "Do Anomalies Disappear in Repeated Markets?," Royal Economic Society Annual Conference 2002 132, Royal Economic Society.
- Varian, H.R., 1991.
"Goodness of Fit for Revealed Preference Tests,"
Papers
13, Michigan - Center for Research on Economic & Social Theory.
- Hal R. Varian, 1994. "Goodness-of-Fit for Revealed Preference Tests," Econometrics 9401001, University Library of Munich, Germany.
- Viscusi, W Kip, 1989. "Prospective Reference Theory: Toward an Explanation of the Paradoxes," Journal of Risk and Uncertainty, Springer, vol. 2(3), pages 235-263, September.
- William T. Harbaugh & Kate Krause & Timothy R. Berry, 2001.
"GARP for Kids: On the Development of Rational Choice Behavior,"
American Economic Review, American Economic Association, vol. 91(5), pages 1539-1545, December.
- Timothy Berry & William Harbaugh & Kate Krause, 2001. "Garp for kids: On the development of rational choice behavior," Artefactual Field Experiments 00056, The Field Experiments Website.
- Bordley, Robert F, 1992. "An Intransitive Expectations-Based Bayesian Variant of Prospect Theory," Journal of Risk and Uncertainty, Springer, vol. 5(2), pages 127-144, May.
- Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages 251-278, October.
- Ballinger, T Parker & Wilcox, Nathaniel T, 1997. "Decisions, Error and Heterogeneity," Economic Journal, Royal Economic Society, vol. 107(443), pages 1090-1105, July.
- Evans, George W. & Ramey, Garey, 1998. "Calculation, Adaptation And Rational Expectations," Macroeconomic Dynamics, Cambridge University Press, vol. 2(2), pages 156-182, June.
- James Andreoni & John Miller, 2002. "Giving According to GARP: An Experimental Test of the Consistency of Preferences for Altruism," Econometrica, Econometric Society, vol. 70(2), pages 737-753, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Marek Kapera, 2022. "Learning own preferences through consumption," KAE Working Papers 2022-074, Warsaw School of Economics, Collegium of Economic Analysis.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Berg, Nathan & Biele, Guido & Gigerenzer, Gerd, 2010.
"Does consistency predict accuracy of beliefs?: Economists surveyed about PSA,"
MPRA Paper
26590, University Library of Munich, Germany.
- Nathan Berg & G. Biele & Gerd Gigerenzer, 2013. "Does Consistency Predict Accuracy of Beliefs?: Economists Surveyed About PSA," Working Papers 1308, University of Otago, Department of Economics, revised Apr 2013.
- Berg, Nathan & Biele, Guido & Gigerenzer, Gerd, 2010. "Does Consistency Predict Accuracy of Beliefs?: Economists Surveyed About PSA," MPRA Paper 24976, University Library of Munich, Germany.
- James C. Cox & Vjollca Sadiraj, 2018. "Incentives," Experimental Economics Center Working Paper Series 2018-01, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
- Gijs Kuilen & Peter Wakker, 2006. "Learning in the Allais paradox," Journal of Risk and Uncertainty, Springer, vol. 33(3), pages 155-164, December.
- Etchart-Vincent, Nathalie, 2007.
"Expérimentation de laboratoire et économie : contre quelques idées reçues et faux problèmes,"
L'Actualité Economique, Société Canadienne de Science Economique, vol. 83(1), pages 91-116, mars.
- Nathalie Etchart-Vincent, 2007. "Expérimentation de laboratoire et économie :Contre quelques idées reçues et faux problèmes," Post-Print halshs-00004120, HAL.
- Matthew Rabin, 1998.
"Psychology and Economics,"
Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
- Rabin, Matthew, 1997. "Psychology and Economics," Department of Economics, Working Paper Series qt8jd5z5j2, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Matthew Rabin., 1997. "Psychology and Economics," Economics Working Papers 97-251, University of California at Berkeley.
- Raymond Fisman & Shachar Kariv & Daniel Markovits, 2007.
"Individual Preferences for Giving,"
American Economic Review, American Economic Association, vol. 97(5), pages 1858-1876, December.
- Fisman, Raymond J & Kariv, Shachar & Markovits, Daniel, 2005. "Individual Preferences for Giving," Department of Economics, Working Paper Series qt3h7672sq, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Ray Fisman & Shachar Kariv & Daniel Markovits, 2006. "Individual Preferences for Giving," Levine's Bibliography 666156000000000468, UCLA Department of Economics.
- Raymond Fisman & Shachar Kariv & Daniel Markovits, 2005. "Individual Preferences for Giving," Game Theory and Information 0504007, University Library of Munich, Germany.
- Ardalan, Kavous, 2018. "Neurofinance versus the efficient markets hypothesis," Global Finance Journal, Elsevier, vol. 35(C), pages 170-176.
- 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.
- Graham Loomes & Chris Starmer & Robert Sugden, 2007. "Preference reversals and disparities between willingness to pay and willingness to accept in repeated markets," Discussion Papers 2007-10, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Graham Loomes & Chris Starmer & Robert Sugden, 2009. "Preference reversals and disparities between willingness to pay and willingness to accept in repeated markets," Discussion Papers 2009-24, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Graham Loomes & Chris Starmer & Robert Sugden, 2009. "Preference reversals and disparities between willingness to pay and willingness to accept in repeated markets," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 09-07, School of Economics, University of East Anglia, Norwich, UK..
- Pavlo Blavatskyy, 2018. "A second-generation disappointment aversion theory of decision making under risk," Theory and Decision, Springer, vol. 84(1), pages 29-60, January.
- James Andreoni & William Harbaugh, 2005.
"Power Indicies for Revealed Preference Tests,"
Levine's Bibliography
784828000000000181, UCLA Department of Economics.
- Andreoni,J. & Harbaugh,W.T., 2005. "Power indices for revealed preference tests," Working papers 10, Wisconsin Madison - Social Systems.
- James Andreoni & William T. Harbaugh, 2006. "Power Indices for Revealed Preference Tests," Levine's Bibliography 122247000000001257, UCLA Department of Economics.
- Steven J. Humphrey & Nadia-Yasmine Kruse, 2024. "Who accepts Savage’s axiom now?," Theory and Decision, Springer, vol. 96(1), pages 1-17, February.
- Jose-Luis Pinto-Prades & Jose-Maria Abellan-Perpiñan, 2012.
"When normative and descriptive diverge: how to bridge the difference,"
Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(4), pages 569-584, April.
- Jose-Luis Pinto-Prades & Jose-Maria Abellan-Perpi–an, 2011. "When normative and descriptive diverge: how to bridge the difference," Working Papers 11.06, Universidad Pablo de Olavide, Department of Economics.
- Elisabeth Gsottbauer & Jeroen Bergh, 2011. "Environmental Policy Theory Given Bounded Rationality and Other-regarding Preferences," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 49(2), pages 263-304, June.
- Eileen Tipoe & Abi Adams & Ian Crawford, 2022. "Revealed preference analysis and bounded rationality [Consume now or later? Time inconsistency, collective choice and revealed preference]," Oxford Economic Papers, Oxford University Press, vol. 74(2), pages 313-332.
- Wang, Jian & Iversen, Tor & Hennig-Schmidt, Heike & Godager, Geir, 2020.
"Are patient-regarding preferences stable? Evidence from a laboratory experiment with physicians and medical students from different countries,"
European Economic Review, Elsevier, vol. 125(C).
- Wang, Jian & Iversen, Tor & Hennig-Schmidt, Heike & Godager, Geir, 2019. "Are patient-regarding preferences stable? Evidence from a laboratory experiment with physicians and medical students from different countries," HERO Online Working Paper Series 2019:1, University of Oslo, Health Economics Research Programme.
- Konstantinos Katsikopoulos & Gerd Gigerenzer, 2008. "One-reason decision-making: Modeling violations of expected utility theory," Journal of Risk and Uncertainty, Springer, vol. 37(1), pages 35-56, August.
- Syngjoo Choi & Raymond Fisman & Douglas Gale & Shachar Kariv, 2007. "Substantive and Procedural Rationality in Decisions under Uncertainty," Levine's Bibliography 122247000000000946, UCLA Department of Economics.
- Moshe Levy & Haim Levy, 2013.
"Prospect Theory: Much Ado About Nothing?,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 7, pages 129-144,
World Scientific Publishing Co. Pte. Ltd..
- Moshe Levy & Haim Levy, 2002. "Prospect Theory: Much Ado About Nothing?," Management Science, INFORMS, vol. 48(10), pages 1334-1349, October.
- Korenok, Oleg & Millner, Edward L. & Razzolini, Laura, 2013.
"Impure altruism in dictators' giving,"
Journal of Public Economics, Elsevier, vol. 97(C), pages 1-8.
- Korenok Oleg & Edward L. Millner & Laura Razzolini, 2010. "Impure Altruism in Dictators’ Giving," Working Papers 1002, VCU School of Business, Department of Economics, revised Jan 2011.
- Birnbaum, Michael H. & Chavez, Alfredo, 1997. "Tests of Theories of Decision Making: Violations of Branch Independence and Distribution Independence," Organizational Behavior and Human Decision Processes, Elsevier, vol. 71(2), pages 161-194, August.
More about this item
Keywords
Rationality; Behavioral economics; Experimental economics;All these keywords.
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:kap:theord:v:85:y:2018:i:2:d:10.1007_s11238-017-9628-6. See general information about how to correct material in RePEc.
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 bibliographic 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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.