When Allais meets Ulysses: Dynamic Consistency and the Certainty Effect
Antoine Nebout () and
Dimitri Dubois ()
Working Papers from LAMETA, Universtiy of Montpellier
We report experimental findings about subjects’ behavior in dynamic decision problems involving multistage lotteries with different timings of resolution of uncertainty. Our within subject design allows us to study violations of the independence axiom in the light of the dynamic axioms' ones : dynamic consistency, consequentialism and reduction of compound lotteries.
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
Date: 2009-12, Revised 2012-09
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http://www.lameta.univ-montp1.fr/Documents/DR2009-30.pdf Revised version, 2012 (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:lam:wpaper:09-30
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