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Correlates of Multiple Switching in the Holt and Laury Procedure

Sven Grüner ()
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Sven Grüner: Martin Luther University Halle-Wittenberg

Authors registered in the RePEc Author Service: Sven Gruener ()

Economics Bulletin, 2017, vol. 37, issue 1, 297-304

Abstract: This paper addresses inconsistent choice behavior in the Holt and Laury (2002) procedure. Instead of simply dropping inconsistent subjects, we may be able to learn something from their behavior. It appears that the more the subjects assess themselves as being risk-averse, the less likely they are to violate expected utility theory. Similar patterns are found for experimental subjects with a major in economics.

Keywords: Risk attitude; Holt and Laury procedure; inconsistent choice behavior (search for similar items in EconPapers)
JEL-codes: C9 (search for similar items in EconPapers)
Date: 2017-02-22
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