An inconsistency between certain outcomes and uncertain incentives within behavioral methods
Alexander Harin ()
MPRA Paper from University Library of Munich, Germany
In random–lottery incentive methods, the choices of certain (sure) outcomes are stimulated by uncertain lotteries. This inconsistency is evident, but only recently revealed. Certain and uncertain outcomes can differ from each other. The revealed inconsistency can hide this possible difference. The cause is: under the condition of the uncertain incentive, the questioned subjects can treat a certain outcome as an uncertain one. The considered critical empirical insight should be kept in mind by both theoreticians and practitioners. It leads also to more general questions of comparison of sure and probable (uncertain) outcomes those should be clarified to increase our understanding of behavior problems.
Keywords: decision; utility; experiment; economics; management; psychology; business (search for similar items in EconPapers)
JEL-codes: C1 C9 C91 C93 D8 D81 (search for similar items in EconPapers)
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