Individual and group decision making under risk: An experimental study of Bayesian updating and violations of first-order stochastic dominance

DOI10.1007/s11166-007-9020-yzbMath1133.91345OpenAlexW3122594364MaRDI QIDQ2475283

Edi Karni, Dan Levin, Gary Charness

Publication date: 11 March 2008

Published in: Journal of Risk and Uncertainty (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s11166-007-9020-y

zbMATH Keywords

group decisionsdecision making under riskBayesian updatingfirst-order stochastic dominance

Mathematics Subject Classification ID

Decision theory (91B06) Stochastic models in economics (91B70) Group preferences (91B10)

Related Items (14)

Role of collective information in networks of quantum operating agents ⋮ Group cooperation under uncertainty ⋮ Shunning uncertainty: the neglect of learning opportunities ⋮ Information processing by networks of quantum decision makers ⋮ Individual vs. couple behavior: an experimental investigation of risk preferences ⋮ Revealing a preference for mixtures: An experimental study of risk ⋮ Individual vs. group decision-making: an experiment on dynamic choice under risk and ambiguity ⋮ Choosing a gambling partner: testing a model of mutual insurance in the lab ⋮ Almost Stochastic Dominance for Most Risk-Averse Decision Makers ⋮ Collective risk aversion ⋮ Does truth win when teams reason strategically? ⋮ What if you are not Bayesian? The consequences for decisions involving risk ⋮ On the conjunction fallacy in probability judgment: new experimental evidence regarding Linda ⋮ Can groups solve the problem of over-bidding in contests?

Cites Work

• Do asset market prices reflect traders' judgment biases?
• The Framing of Decisions and the Psychology of Choice
• Are People Bayesian? Uncovering Behavioral Strategies

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