Negative recency, randomization device choice, and reduction of compound lotteries

DOI10.1016/J.ECONLET.2011.12.078MaRDI QIDQ433188zbMATH OpenOpenAlexFDO

Authors Kim Kaivanto, Eike B. Kroll

Publication date 13 July 2012

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL https://publikationen.bibliothek.kit.edu/1000022861/1691688

zbMATH Keywords

design of experimentslaw of small numbersmyopic loss aversionnegative recency effectreduction of compound lotteriesSt. Petersburg paradox

Mathematics Subject Classification ID

Experimental studies (91A90)

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Cites work

• Alternation Bias and the Parameterization of Cumulative Prospect Theory
• Biases in assessments of probabilities: New evidence from Greyhound races
• Ellsberg Revisited: An Experimental Study
• Failures of the reduction principle in an Ellsberg-type problem
• scientific article; zbMATH DE number 3137856 (Why is no real title available?)
• Inference by Believers in the Law of Small Numbers
• Inference from Streaks in Random Outcomes: Experimental Evidence on Beliefs in Regime Shifting and the Law of Small Numbers
• Myopic Loss Aversion and the Equity Premium Puzzle
• Probability, Utility, and the Independence Axiom
• Prospect Theory: An Analysis of Decision under Risk
• Prospect theory. For risk and ambiguity.
• Reduction invariance and Prelec's weighting functions
• The framing of decisions and the psychology of choice
• The gambler's fallacy and the hot hand: empirical data from casinos
• The perception of randomness
• The Probability Weighting Function
• Theory of games and economic behavior.
• Two-Stage Lotteries without the Reduction Axiom

Cited in

(1)

• Shunning uncertainty: the neglect of learning opportunities

Describes a project that uses

Uses Software

• ORSEE

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