Are bygones bygones?
Cubitt, Robin P. (Robin Patrick), Ruiz-Martos, Maria and Starmer, Chris. (2010) Are bygones bygones? Theory and Decision, Volume 73 (Number 2). pp. 185-202. ISSN 0040-5833Full text not available from this repository.
Official URL: http://dx.doi.org/10.1007/s11238-010-9233-4
This article reports an experiment which tests the principle of separability, i.e. that behaviour in a dynamic choice problem is independent of history and of unreachable eventualities. Although this is a well-known principle of orthodox decision theory and central to conventional economic modelling, it has been questioned on grounds suggested by non-expected utility models of choice under risk and by the psychology of affective influences on risk-taking. Our experimental design, which provides between-subjects tests of separability using three treatments in which the history preceding a decision is manipulated, is inspired by these concerns. We expose separability to a clean and harsh test, but find no evidence that it is violated.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Q Science > QA Mathematics
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Decision making -- Mathematical models, Statistical decision|
|Journal or Publication Title:||Theory and Decision|
|Page Range:||pp. 185-202|
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