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Risky decision making : testing for violations of transitivity predicted by an editing mechanism
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Birnbaum, Michael H. , Navarro-Martinez, Daniel , Ungemach, Christoph , Stewart, Neil and Quispe-Torreblanca, Edika G. (2016) Risky decision making : testing for violations of transitivity predicted by an editing mechanism. Judgment and Decision Making, 11 (1). pp. 75-91. ISSN 1930-2975.
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Official URL: http://journal.sjdm.org/15/15615a/jdm15615a.pdf
Abstract
Transitivity is the assumption that if a person prefers A to B and B to C, then that person should prefer A to C. This article
explores a paradigm in which Birnbaum, Patton and Lott (1999) thought people might be systematically intransitive. Many
undergraduates choose C = ($96, .85; $90, .05; $12, .10) over A = ($96, .9; $14, .05; $12, .05), violating dominance. Perhaps
people would detect dominance in simpler choices, such as A versus B = ($96, .9; $12, .10) and B versus C, and yet continue
to violate it in the choice between A and C, which would violate transitivity. In this study we apply a true and error model to
test intransitive preferences predicted by a partially effective editing mechanism. The results replicated previous findings quite
well; however, the true and error model indicated that very few, if any, participants exhibited true intransitive preferences. In
addition, violations of stochastic dominance showed a strong and systematic decrease in prevalence over time and violat
Item Type: | Journal Article | ||||||
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Subjects: | B Philosophy. Psychology. Religion > BF Psychology | ||||||
Divisions: | Faculty of Science, Engineering and Medicine > Science > Psychology | ||||||
Library of Congress Subject Headings (LCSH): | Decision making -- Mathematical models, Choice (Psychology) | ||||||
Journal or Publication Title: | Judgment and Decision Making | ||||||
Publisher: | Society for Judgment and Decision Making | ||||||
ISSN: | 1930-2975 | ||||||
Official Date: | January 2016 | ||||||
Dates: |
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Volume: | 11 | ||||||
Number: | 1 | ||||||
Page Range: | pp. 75-91 | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||
Date of first compliant deposit: | 2 February 2016 | ||||||
Date of first compliant Open Access: | 3 February 2016 | ||||||
Funder: | National Science Foundation (U.S.) (NSF) | ||||||
Grant number: | BCS-0129453, SES DRMS-0721126 | ||||||
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