Dynamic Choice and the Common Ratio Effect: An Experimental Investigation
The common ratio effect is a well-attested violation of expected utility theory. This paper uses four principles of dynamic choice to characterize alternative theoretical strategies for explaining the effect. It reports an experiment which tests these principles and, by implication, several well-kno...
|Place of publication:||
Royal Economic Society 1998
|published in:||Economic Journal Vol. 108; no. 450; pp. 1362 - 80|
|Data of publication:||1998|
|Online Access:||available in Bonn?|
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