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Regret Aversion or Event-Splitting Effects? More Evidence under Risk and Uncertainty

Citations

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Cited by:

  1. Kai Duttle & Keigo Inukai, 2015. "Complexity Aversion: Influences of Cognitive Abilities, Culture and System of Thought," Economics Bulletin, AccessEcon, vol. 35(2), pages 846-855.
  2. Glenn W. Harrison & Jia Min Ng, 2016. "Evaluating The Expected Welfare Gain From Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(1), pages 91-120, January.
  3. Aurélien Baillon & Han Bleichrodt & Alessandra Cillo, 2015. "A Tailor-Made Test of Intransitive Choice," Operations Research, INFORMS, vol. 63(1), pages 198-211, February.
  4. Herweg, Fabian & Müller, Daniel, 2021. "A comparison of regret theory and salience theory for decisions under risk," Journal of Economic Theory, Elsevier, vol. 193(C).
  5. Jonathan W. Leland & Mark Schneider & Nathaniel T. Wilcox, 2019. "Minimal Frames and Transparent Frames for Risk, Time, and Uncertainty," Management Science, INFORMS, vol. 65(9), pages 4318-4335, September.
  6. Steven Humphrey & Paul Mann & Chris Starmer, 2005. "Testing for feedback-conditional regret effects using a natural lottery," Discussion Papers 2005-07, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  7. Michael H. Birnbaum & Jeffrey P. Bahra, 2007. "Gain-Loss Separability and Coalescing in Risky Decision Making," Management Science, INFORMS, vol. 53(6), pages 1016-1028, June.
  8. repec:cup:judgdm:v:3:y:2008:i:7:p:528-546 is not listed on IDEAS
  9. Butler, D. J., 2000. "Do non-expected utility choice patterns spring from hazy preferences? An experimental study of choice 'errors'," Journal of Economic Behavior & Organization, Elsevier, vol. 41(3), pages 277-297, March.
  10. Michael Birnbaum, 2005. "A Comparison of Five Models that Predict Violations of First-Order Stochastic Dominance in Risky Decision Making," Journal of Risk and Uncertainty, Springer, vol. 31(3), pages 263-287, December.
  11. Enrico Diecidue & Peter Wakker & Marcel Zeelenberg, 2007. "Eliciting decision weights by adapting de Finetti’s betting-odds method to prospect theory," Journal of Risk and Uncertainty, Springer, vol. 34(3), pages 179-199, June.
  12. Birnbaum, Michael H., 2007. "Tests of branch splitting and branch-splitting independence in Allais paradoxes with positive and mixed consequences," Organizational Behavior and Human Decision Processes, Elsevier, vol. 102(2), pages 154-173, March.
  13. Ostermair, Christoph, 2022. "An experimental investigation of the Allais paradox with subjective probabilities and correlated outcomes," Journal of Economic Psychology, Elsevier, vol. 93(C).
  14. Humphrey, Steven J., 2004. "Feedback-conditional regret theory and testing regret-aversion in risky choice," Journal of Economic Psychology, Elsevier, vol. 25(6), pages 839-857, December.
  15. Birnbaum, Michael H., 2004. "Tests of rank-dependent utility and cumulative prospect theory in gambles represented by natural frequencies: Effects of format, event framing, and branch splitting," Organizational Behavior and Human Decision Processes, Elsevier, vol. 95(1), pages 40-65, September.
  16. Mr. Abbas Mirakhor & Mr. S. Nuri Erbas, 2007. "The Equity Premium Puzzle, Ambiguity Aversion, and Institutional Quality," IMF Working Papers 2007/230, International Monetary Fund.
  17. Michael H. Birnbaum & Kathleen Johnson & Jay-Lee Longbottom, 2008. "Tests of Cumulative Prospect Theory with graphical displays of probability," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3(7), pages 528-546, October.
  18. 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).
  19. Andreas Glöckner & Baiba Renerte & Ulrich Schmidt, 2020. "Violations of coalescing in parametric utility measurement," Theory and Decision, Springer, vol. 89(4), pages 471-501, November.
  20. Brice Corgnet & Roberto Hernán González, 2023. "On The Appeal Of Complexity," Working Papers 2312, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
  21. Daniel Navarro-Martinez & Graham Loomes & Andrea Isoni & David Butler & Larbi Alaoui, 2018. "Boundedly rational expected utility theory," Journal of Risk and Uncertainty, Springer, vol. 57(3), pages 199-223, December.
  22. Michael H. Birnbaum, 2005. "Three New Tests of Independence That Differentiate Models of Risky Decision Making," Management Science, INFORMS, vol. 51(9), pages 1346-1358, September.
  23. Reb, Jochen, 2008. "Regret aversion and decision process quality: Effects of regret salience on decision process carefulness," Organizational Behavior and Human Decision Processes, Elsevier, vol. 105(2), pages 169-182, March.
  24. Steven Humphrey, 1999. "Probability Learning, Event-Splitting Effects and the Economic Theory of Choice," Theory and Decision, Springer, vol. 46(1), pages 51-78, February.
  25. Landry, Peter & Webb, Ryan, 2021. "Pairwise normalization: A neuroeconomic theory of multi-attribute choice," Journal of Economic Theory, Elsevier, vol. 193(C).
  26. Peter Moffatt & Stefania Sitzia & Daniel Zizzo, 2015. "Heterogeneity in preferences towards complexity," Journal of Risk and Uncertainty, Springer, vol. 51(2), pages 147-170, October.
  27. Tomas Sjöström & Levent Ülkü & Radovan Vadovic, 2017. "Free to Choose: Testing the Pure Motivation Effect of Autonomous Choice," Carleton Economic Papers 17-11, Carleton University, Department of Economics.
  28. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
  29. Adrian Bruhin & Maha Manai & Luís Santos-Pinto, 2022. "Risk and rationality: The relative importance of probability weighting and choice set dependence," Journal of Risk and Uncertainty, Springer, vol. 65(2), pages 139-184, October.
  30. Steven J. Humphrey & Luke Lindsay & Chris Starmer, 2017. "Consumption experience, choice experience and the endowment effect," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 3(2), pages 109-120, December.
  31. Ian J. Bateman & Michael P. Cameron & Antreas Tsoumas, 2006. "Investigating the Characteristics of Stated Preferences for Reducing the Impacts of Air Pollution: A Contingent Valuation Experiment," Working Papers in Economics 06/08, University of Waikato.
  32. Han Bleichrodt & Alessandra Cillo & Enrico Diecidue, 2010. "A Quantitative Measurement of Regret Theory," Management Science, INFORMS, vol. 56(1), pages 161-175, January.
  33. Aurélien Baillon, 2008. "Eliciting Subjective Probabilities Through Exchangeable Events: An Advantage and a Limitation," Decision Analysis, INFORMS, vol. 5(2), pages 76-87, June.
  34. Steven Humphrey & Paul Mann & Chris Starmer, 2005. "Testing for feedback-conditional regret effects using a natural lottery," Discussion Papers 2005-07, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  35. 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.
  36. Ulrich Schmidt & Christian Seidl, 2014. "Reconsidering the common ratio effect: the roles of compound independence, reduction, and coalescing," Theory and Decision, Springer, vol. 77(3), pages 323-339, October.
  37. Birnbaum, Michael H., 2006. "Evidence against prospect theories in gambles with positive, negative, and mixed consequences," Journal of Economic Psychology, Elsevier, vol. 27(6), pages 737-761, December.
  38. Brown, Gordon D. A. & Gardner, Jonathan & Oswald, Andrew J. & Qian, Jing, 2005. "Does Wage Rank Affect Employees' Wellbeing?," IZA Discussion Papers 1505, Institute of Labor Economics (IZA).
  39. Wakker, Peter P., 2023. "A criticism of Bernheim & Sprenger's (2020) tests of rank dependence," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 107(C).
  40. Gürtler, Marc & Stolpe, Julia, 2011. "Piecewise continuous cumulative prospect theory and behavioral financial engineering," Working Papers IF37V1, Technische Universität Braunschweig, Institute of Finance.
  41. Birnbaum, Michael H. & Patton, Jamie N. & Lott, Melissa K., 1999. "Evidence against Rank-Dependent Utility Theories: Tests of Cumulative Independence, Interval Independence, Stochastic Dominance, and Transitivity, , , ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 77(1), pages 44-83, January.
  42. repec:cup:judgdm:v:1:y:2006:i::p:108-117 is not listed on IDEAS
  43. Michael H. Birnbaum & Ulrich Schmidt, 2015. "The Impact of Learning by Thought on Violations of Independence and Coalescing," Decision Analysis, INFORMS, vol. 12(3), pages 144-152.
  44. Schmidt, Ulrich & Birnbaum, Michael, 2014. "The Impact of Experience on Violations of Independence and Coalescing," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100463, Verein für Socialpolitik / German Economic Association.
  45. Humphrey, Steven J., 2000. "The common consequence effect: testing a unified explanation of recent mixed evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 41(3), pages 239-262, March.
  46. Kurata, Hiroshi & Izawa, Hiroshi & Okamura, Makoto, 2009. "Non-expected utility maximizers behave as if expected utility maximizers: An experimental test," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(4), pages 622-629, August.
  47. Han Bleichrodt & Peter P. Wakker, 2015. "Regret Theory: A Bold Alternative to the Alternatives," Economic Journal, Royal Economic Society, vol. 0(583), pages 493-532, March.
  48. Enrico Diecidue & Dolchai La-ornual, 2009. "Reconciling support theory and the book-making principle," Journal of Risk and Uncertainty, Springer, vol. 38(3), pages 173-190, June.
  49. Steven J. Humphrey & Nadia-Yasmine Kruse, 2024. "Who accepts Savage’s axiom now?," Theory and Decision, Springer, vol. 96(1), pages 1-17, February.
  50. Marc Rieger & Mei Wang, 2008. "Prospect theory for continuous distributions," Journal of Risk and Uncertainty, Springer, vol. 36(1), pages 83-102, February.
  51. Mr. S. Nuri Erbas, 2004. "Ambiguity, Transparency, and Institutional Strength," IMF Working Papers 2004/115, International Monetary Fund.
  52. George Wu & Jiao Zhang & Mohammed Abdellaoui, 2005. "Testing Prospect Theories Using Probability Tradeoff Consistency," Journal of Risk and Uncertainty, Springer, vol. 30(2), pages 107-131, January.
  53. Humphrey, Steven J., 1996. "Do anchoring effects underlie event-splitting effects? An experimental test," Economics Letters, Elsevier, vol. 51(3), pages 303-308, June.
  54. Mr. S. Nuri Erbas, 2003. "Imf Conditionality and Program Ownership: A Case for Streamlined Conditionality," IMF Working Papers 2003/098, International Monetary Fund.
  55. André C. R. Martins, 2006. "Probability biases as Bayesian inference," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 1, pages 108-117, November.
  56. Humphrey, Steven J., 1998. "More mixed results on boundary effects," Economics Letters, Elsevier, vol. 61(1), pages 79-84, October.
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