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Negative recency, randomization device choice, and reduction of compound lotteries

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Negative recency, randomization device choice, and reduction of compound lotteries. / Kaivanto, Kim; Kroll, Eike B.
In: Economics Letters, Vol. 115, No. 2, 05.2012, p. 263-267.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Kaivanto, K & Kroll, EB 2012, 'Negative recency, randomization device choice, and reduction of compound lotteries', Economics Letters, vol. 115, no. 2, pp. 263-267. https://doi.org/10.1016/j.econlet.2011.12.078

APA

Kaivanto, K., & Kroll, E. B. (2012). Negative recency, randomization device choice, and reduction of compound lotteries. Economics Letters, 115(2), 263-267. https://doi.org/10.1016/j.econlet.2011.12.078

Vancouver

Kaivanto K, Kroll EB. Negative recency, randomization device choice, and reduction of compound lotteries. Economics Letters. 2012 May;115(2):263-267. doi: 10.1016/j.econlet.2011.12.078

Author

Kaivanto, Kim ; Kroll, Eike B. / Negative recency, randomization device choice, and reduction of compound lotteries. In: Economics Letters. 2012 ; Vol. 115, No. 2. pp. 263-267.

Bibtex

@article{e617ae225f2949c09abe25d1f3dce7f1,
title = "Negative recency, randomization device choice, and reduction of compound lotteries",
abstract = "We report an experiment in which subjects are not indifferent between real-money lotteries implemented with randomization devices that are equivalent under the Reduction Axiom. Instead, choice behavior is consistent with subjective distortion of conditional probability, and this persists in treatment conditions that control for (i) computational limitations and (ii) possible confounding by ratio bias.",
author = "Kim Kaivanto and Kroll, {Eike B.}",
year = "2012",
month = may,
doi = "10.1016/j.econlet.2011.12.078",
language = "English",
volume = "115",
pages = "263--267",
journal = "Economics Letters",
issn = "0165-1765",
publisher = "Elsevier",
number = "2",

}

RIS

TY - JOUR

T1 - Negative recency, randomization device choice, and reduction of compound lotteries

AU - Kaivanto, Kim

AU - Kroll, Eike B.

PY - 2012/5

Y1 - 2012/5

N2 - We report an experiment in which subjects are not indifferent between real-money lotteries implemented with randomization devices that are equivalent under the Reduction Axiom. Instead, choice behavior is consistent with subjective distortion of conditional probability, and this persists in treatment conditions that control for (i) computational limitations and (ii) possible confounding by ratio bias.

AB - We report an experiment in which subjects are not indifferent between real-money lotteries implemented with randomization devices that are equivalent under the Reduction Axiom. Instead, choice behavior is consistent with subjective distortion of conditional probability, and this persists in treatment conditions that control for (i) computational limitations and (ii) possible confounding by ratio bias.

U2 - 10.1016/j.econlet.2011.12.078

DO - 10.1016/j.econlet.2011.12.078

M3 - Journal article

VL - 115

SP - 263

EP - 267

JO - Economics Letters

JF - Economics Letters

SN - 0165-1765

IS - 2

ER -