INVESTIGATION OF STOCHASTIC PREFERENCE THEORY USING EXPERIMENTAL-DATA

Authors
CARBONE E
Citation
E. Carbone, INVESTIGATION OF STOCHASTIC PREFERENCE THEORY USING EXPERIMENTAL-DATA, Economics letters, 57(3), 1997, pp. 305-311
Citations number
4
Journal title
Economics letters → ACNP
ISSN journal
01651765
Volume
57
Issue
3
Year of publication
1997
Pages
305 - 311
Database
ISI
SICI code
0165-1765(1997)57:3<305:IOSPTU>2.0.ZU;2-C
Abstract
This paper investigates the relative empirical performance of 3 storie s of 'error' in decision-making in experiments finding that the consta nt-error-probability story does not fit particularly well, but that th e white noise and stochastic preference stories perform considerably b etter. The paper concludes by suggesting ways of testing between these two. (C) 1997 Elsevier Science S.A.