Hans Lind | KTH Royal Institute of Technology (original) (raw)
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Papers by Hans Lind
Journal of Economic Behavior & Organization, 1993
Prefer: ,lce reversal, or choice/reservation-price inconsistency, has been documented experimenta... more Prefer: ,lce reversal, or choice/reservation-price inconsistency, has been documented experimentally for zrtain types of lotteries. We argue that the relevance of these findings for reaLworld markets is uncertain because the type of objects used cannot exist on a market and because the extent to which the subjects had any real interest in the objects is unknown. Using reaI-world lotteries, we have tested choice/price consistency on subjects who prefer lotteries ta cash. Preference reversal was observed, but the frequency was much lower than in earlier experiments. There were no differences between subjects who qualified as 'lottery interested' and those who did not.
Journal of Economic Behavior & Organization, 1993
Prefer: ,lce reversal, or choice/reservation-price inconsistency, has been documented experimenta... more Prefer: ,lce reversal, or choice/reservation-price inconsistency, has been documented experimentally for zrtain types of lotteries. We argue that the relevance of these findings for reaLworld markets is uncertain because the type of objects used cannot exist on a market and because the extent to which the subjects had any real interest in the objects is unknown. Using reaI-world lotteries, we have tested choice/price consistency on subjects who prefer lotteries ta cash. Preference reversal was observed, but the frequency was much lower than in earlier experiments. There were no differences between subjects who qualified as 'lottery interested' and those who did not.