TY - Journal Article
T1 - Risky decision making: Testing for violations of transitivity predicted by an editing mechanism
JF - Judgment and decision making
VL - 11
IS - 1
SP - 75
EP - 91
A1 - Birnbaum, Michael H
A2 - Navarro-Martinez, Daniel
A2 - Ungemach, Christoph
A2 - Stewart, Neil
A2 - Quispe-Torreblanca, Edika G
CY - TALLAHASSEE
PB - Society for Judgment and Decision Making
PY - 2016
UR - https://bonnus.ulb.uni-bonn.de/SummonRecord/FETCH-LOGICAL-1432t-3d6f4f2c30427562400c56f907c56d4932ee380c81156d2391672ac5bc31568f3
N2 - Transitivity is the assumption that if a person prefers A to B and B to C, then that person should prefer A to C. This article explores a paradigm in which Birnbaum, Patton and Lott (1999) thought people might be systematically intransitive. Many undergraduates choose C = ($ 96,.85; $ 90,.05; $ 12,.10) over A = ($ 96,.9; $ 14,.05; $ 12,.05), violating dominance. Perhaps people would detect dominance in simpler choices, such as A versus B = ($ 96,.9; $ 12,.10) and B versus C, and yet continue to violate it in the choice between A and C, which would violate transitivity. In this study we apply a true and error model to test intransitive preferences predicted by a partially effective editing mechanism. The results replicated previous findings quite well; however, the true and error model indicated that very few, if any, participants exhibited true intransitive preferences. In addition, violations of stochastic dominance showed a strong and systematic decrease in prevalence over time and violated response independence, thus violating key assumptions of standard random preference models for analysis of transitivity.
KW - Psychology, Multidisciplinary
KW - Psychology
KW - Social Sciences
KW - Decision-making
KW - Dominance (Psychology)
KW - Decision theory
KW - Analysis
KW - Methods
KW - Studies
KW - Preferences
KW - Expected utility
KW - Decision making models
KW - preference modelsNAKeywords
KW - dominance
KW - true and error models
KW - transitivity
KW - stochastic dominance
KW - United States
KW - dominance
KW - preference models
KW - true and error models
KW - transitivity
KW - stochastic dominance
KW - PARADOXES
KW - CUMULATIVE PROSPECT-THEORY
KW - GAMBLES
KW - RATIONAL CHOICE
KW - INTRANSITIVITY
KW - INDEPENDENCE
KW - RANK-DEPENDENT UTILITY
KW - ERROR RATES
KW - MODELS
KW - STOCHASTIC-DOMINANCE
ER -