How do additional alternatives affect individual choice under uncertainty?
Javier Escobal and
Sonia Laszlo ()
Canadian Journal of Economics, 2009, vol. 42, issue 1, 113-140
We show, in an artefactual field economics decision-making experiment, that the addition of an alternative to a choice set can affect the measurement of farmers' risk preferences in rural Peru. We found that an alternative that would normally be considered irrelevant was chosen in Peru, and that it affected choice between other alternatives. In Montreal, the irrelevant alternative was not chosen, but also affected choices between other alternatives. Comparing choices made in Peru with those made in Montreal, we identify beliefs and cultural characteristics that are likely to lead to these results.
JEL-codes: C91 O33 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (12) Track citations by RSS feed
Downloads: (external link)
access restricted to subscribers
Journal Article: How do additional alternatives affect individual choice under uncertainty? (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cje:issued:v:42:y:2009:i:1:p:113-140
Ordering information: This journal article can be ordered from
https://www.economic ... ionen/membership.php
Access Statistics for this article
Canadian Journal of Economics is currently edited by Katherine Cuff
More articles in Canadian Journal of Economics from Canadian Economics Association Canadian Economics Association Prof. Werrner Antweiler, Treasurer UBC Sauder School of Business 2053 Main Mall Vancouver, BC, V6T 1Z2. Contact information at EDIRC.
Bibliographic data for series maintained by Prof. Werner Antweiler ().