Violations of betweenness and choice shifts in groups
Pavlo R. Blavatskyy () and
Francesco Feri ()
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Pavlo R. Blavatskyy: Montpellier Business School, Montpellier Research in Management
Francesco Feri: Royal Holloway University of London
Theory and Decision, 2018, vol. 85, issue 3, 321-331
Abstract In decision theory, the betweenness axiom postulates that a decision maker who chooses an alternative A over another alternative B must also choose any probability mixture of A and B over B itself and can never choose a probability mixture of A and B over A itself. The betweenness axiom is a weaker version of the independence axiom of expected utility theory. Numerous empirical studies documented systematic violations of the betweenness axiom in revealed individual choice under uncertainty. This paper shows that these systematic violations can be linked to another behavioral regularity—choice shifts in a group decision making. Choice shifts are observed if an individual faces the same decision problem but makes a different choice when deciding alone and in a group.
Keywords: Betweenness; Choice shift; Quasi-concave preference; Quasi-convex preference; Risky shift; Cautious shift; Expected utility theory (search for similar items in EconPapers)
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