Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/296287 
Year of Publication: 
2022
Citation: 
[Journal:] Quantitative Economics [ISSN:] 1759-7331 [Volume:] 13 [Issue:] 2 [Year:] 2022 [Pages:] 761-786
Publisher: 
The Econometric Society, New Haven, CT
Abstract: 
Using a revealed preference approach, we conduct an experiment where subjects make choices from linear convex budgets in the domain of risk. We find that many individuals prefer mixtures of lotteries in ways that systematically rule out expected utility behavior. We explore the extent to which an individual's preference to choose mixtures is related to a preference for randomization by comparing choices from a convex choice task to the decisions made in a repeated discrete choice task. We find that a preference to mix is positively correlated with behavior from repeated discrete choice tasks. Risk preferences preference for randomization stochastic choice revealed preferences C91 D81 D91
Subjects: 
Risk preferences
preference for randomization
stochastic choice
revealed preferences
JEL: 
C91
D81
D91
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc Logo
Document Type: 
Article

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