Testing Different Stochastic Specificationsof Risky Choice

Testing Different Stochastic Specificationsof Risky Choice
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测试风险选择的不同随机规格

DOI：
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发表时间：
1998
期刊：
影响因子：
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通讯作者：
R. Sugden
R. Sugden
中科院分区：
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文献类型：
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作者：
G. Loomes;R. Sugden

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比较了Harless-Camerer（HC）、Hey-Orme（HO）和随机偏好（RP）模型在不确定性条件下的选择随机变化。这些模型的影响，包括一些是独立的确定性理论与它们相结合，在一个实验中，参与者对决策问题的两次反应进行了测试。HC模型通常表现不佳; HO模型预测的显性违规行为比观察到的要多;而RP模型未能解释确实发生的少数违规行为。观察到的额外的不一致与所有三个模型时，结合预期效用理论。伦敦政治经济学院版权所有
The Harless-Camerer (HC), Hey-Orme (HO), and random preference (RP) models of stochastic variation in choice under uncertainty are compared. Implications of these models, including some that are independent of the deterministic theory with which they are combined, are tested in an experiment in which participants respond to decision problems twice. The HC model generally performs poorly; the HO model predicts more violations of dominance than are observed; while the RP model fails to account for those few violations which do occur. Additional regularities are observed which are inconsistent with all three models when combined with expected utility theory. Copyright 1998 by The London School of Economics and Political Science