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Testing the Transivity Explanation of the Allais Paradox

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Standard

Testing the Transivity Explanation of the Allais Paradox. / Groes, Ebbe; Jacobsen, Hans Jørgen; Sloth, Birgitte; Tranæs, Torben.

I: Theory and Decision, Bind 47, Nr. 3, 1999, s. 229-245.

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningfagfællebedømt

Harvard

Groes, E, Jacobsen, HJ, Sloth, B & Tranæs, T 1999, 'Testing the Transivity Explanation of the Allais Paradox', Theory and Decision, bind 47, nr. 3, s. 229-245. https://doi.org/10.1023/A:1005177230444

APA

Groes, E., Jacobsen, H. J., Sloth, B., & Tranæs, T. (1999). Testing the Transivity Explanation of the Allais Paradox. Theory and Decision, 47(3), 229-245. https://doi.org/10.1023/A:1005177230444

Vancouver

Groes E, Jacobsen HJ, Sloth B, Tranæs T. Testing the Transivity Explanation of the Allais Paradox. Theory and Decision. 1999;47(3):229-245. https://doi.org/10.1023/A:1005177230444

Author

Groes, Ebbe ; Jacobsen, Hans Jørgen ; Sloth, Birgitte ; Tranæs, Torben. / Testing the Transivity Explanation of the Allais Paradox. I: Theory and Decision. 1999 ; Bind 47, Nr. 3. s. 229-245.

Bibtex

@article{85cef0c074c611dbbee902004c4f4f50,
title = "Testing the Transivity Explanation of the Allais Paradox",
abstract = "This paper uses a two-dimensional version of a standard common consequence experiment to test the intransitivity explanation of Allais-paradox-type violations of expected utility theory. We compare the common consequence effect of two choice problems differing only with respect to whether alternatives are statistically correlated or independent. We framed the experiment so that intransitive preferences could explain violating behavior when alternatives are independent, but not when they are correlated. We found the same pattern of violation in the two cases. This is evidence against intransitivity as an explanation of the Allais Paradox. The question whether violations of expected utility are mainly due to intransitivity or to violation of independence is important since it is exactly on this issue the main new decision theories differ",
author = "Ebbe Groes and Jacobsen, {Hans J{\o}rgen} and Birgitte Sloth and Torben Tran{\ae}s",
note = "JEL Classification: D8, D8",
year = "1999",
doi = "10.1023/A:1005177230444",
language = "English",
volume = "47",
pages = "229--245",
journal = "Theory and Decision",
issn = "0040-5833",
publisher = "Springer",
number = "3",

}

RIS

TY - JOUR

T1 - Testing the Transivity Explanation of the Allais Paradox

AU - Groes, Ebbe

AU - Jacobsen, Hans Jørgen

AU - Sloth, Birgitte

AU - Tranæs, Torben

N1 - JEL Classification: D8, D8

PY - 1999

Y1 - 1999

N2 - This paper uses a two-dimensional version of a standard common consequence experiment to test the intransitivity explanation of Allais-paradox-type violations of expected utility theory. We compare the common consequence effect of two choice problems differing only with respect to whether alternatives are statistically correlated or independent. We framed the experiment so that intransitive preferences could explain violating behavior when alternatives are independent, but not when they are correlated. We found the same pattern of violation in the two cases. This is evidence against intransitivity as an explanation of the Allais Paradox. The question whether violations of expected utility are mainly due to intransitivity or to violation of independence is important since it is exactly on this issue the main new decision theories differ

AB - This paper uses a two-dimensional version of a standard common consequence experiment to test the intransitivity explanation of Allais-paradox-type violations of expected utility theory. We compare the common consequence effect of two choice problems differing only with respect to whether alternatives are statistically correlated or independent. We framed the experiment so that intransitive preferences could explain violating behavior when alternatives are independent, but not when they are correlated. We found the same pattern of violation in the two cases. This is evidence against intransitivity as an explanation of the Allais Paradox. The question whether violations of expected utility are mainly due to intransitivity or to violation of independence is important since it is exactly on this issue the main new decision theories differ

U2 - 10.1023/A:1005177230444

DO - 10.1023/A:1005177230444

M3 - Journal article

VL - 47

SP - 229

EP - 245

JO - Theory and Decision

JF - Theory and Decision

SN - 0040-5833

IS - 3

ER -

ID: 152365