Cognition in Seemingly Riskless Choices and Judgments

Louis Lévy-Garboua and Claude Montmarquette

Cahiers de recherche from Centre interuniversitaire de recherche en économie quantitative, CIREQ

Abstract: We instillate rational cognition and learning in "seemingly riskless" choices and judgments. Preferences and possibilities are given in a stochastic sense and based on revisable expectations. The theory predicts experimental preference reversals and passes a sharp econometric test of the status quo bias drawn from a field study.

Keywords: RISK; EXPECTATIONS; ECONOMETRICS; TESTS (search for similar items in EconPapers)
JEL-codes: C50 C52 D80 D81 D84 (search for similar items in EconPapers)
Pages: 27 pages
Date: 1996
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Citations: View citations in EconPapers (3)

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Related works:
Journal Article: COGNITION IN SEEMINGLY RISKLESS CHOICES AND JUDGMENTS (1996)
Working Paper: Cognition in Seemingly Riskless Choices and Judgments (1996)
Working Paper: Cognition in Seemingly Riskless Choices and Judgments (1996)
Working Paper: Cognition in Seemingly Riskless Choices and Judgments (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:mtl:montec:9602

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