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Title:An experimental investigation of violations of transitivity in choice under uncertainty PDF Logo
Authors:Birnbaum, Michael H.
Schmidt, Ulrich
Issue Date:2008
Series/Report no.:Kiel working paper 1396
Abstract:Several models of choice under uncertainty imply systematic violations of transitivity of preference. Our experiments explored whether people show patterns of intransitivity predicted by these models. To distinguish "true" violations from those produced by "error", a model was fit in which each choice can have a different error rate and each person can have a different pattern of true preferences that does not need to be transitive. Error rate for a choice is estimated from preference reversals between repeated presentations of the same choice. Our results showed that very few people repeated intransitive patterns. We can retain the hypothesis that transitivity best describes the data of the vast majority of participants.
Subjects:Decision making
Errors
Regret theory
Transitivity
JEL:C91
D81
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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