An experimental investigation of violations of transitivity in choice under uncertainty

被引：0
作者：
Michael H. Birnbaum
Ulrich Schmidt
机构：
[1] CSUF H-830M,Department of Psychology
[2] University of Kiel,Department of Economics
[3] Kiel Institute for the World Economy,undefined
来源：
Journal of Risk and Uncertainty | 2008年 / 37卷
关键词：
Choice; Decision making; Errors; Regret theory; Transitivity; C91; D81;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
Several models of decision-making imply systematic violations of transitivity of preference. Our experiments explored whether people show patterns of intransitivity predicted by regret theory and majority rule. To distinguish “true” violations from those produced by “error,” a model was fit in which each choice can have a different error rate and each person can have a different pattern of true preferences that need not be transitive. Error rate for a choice is estimated from preference reversals between repeated presentations of that same choice. Our results showed that very few people repeated intransitive patterns. We can retain the hypothesis that transitivity best describes the data of the vast majority of participants.
引用
收藏
页码：77 / 91
页数：14
相关论文
共 62 条
[1]  
Anand P.(1987)Are the preference axioms really rational Theory and Decision 23 189-214
[2]  
Bell D. E.(1982)Regret in decision making under uncertainty Operations Research 30 961-983
[3]  
Birnbaum M. H.(1999)Testing critical properties of decision making on the internet Psychological Science 10 399-407
[4]  
Birnbaum M. 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 95 40-65
[5]  
Birnbaum M. H.(2005)A comparison of five models that predict violations of first-order stochastic dominance in risky decision making Journal of Risk and Uncertainty 31 263-287
[6]  
Birnbaum M. H.(2005)Three new tests of independence that differentiate models of risky decision making Management Science 51 1346-1358
[7]  
Birnbaum M. H.(2007)Testing for intransitivity of preferences predicted by a lexicographic semiorder Organizational Behavior and Human Decision Processes 104 97-112
[8]  
Gutierrez R. J.(1998)Testing descriptive utility theories: violations of stochastic dominance and cumulative independence Journal of Risk and Uncertainty 17 49-78
[9]  
Birnbaum M. H.(1999)Evidence against rank-dependent utility theories: violations of cumulative independence, interval independence, stochastic dominance, and transitivity Organizational Behavior and Human Decision Processes 77 44-83
[10]  
Navarrete J. B.(2006)Axiomatization of a preference for most probable winner Theory and Decision 60 17-33
1234567