Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/36042
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dc.contributor.authorLefèbvre, Mathieuen_US
dc.contributor.authorVieider, Ferdinand M.en_US
dc.contributor.authorVilleval, Marie-Claireen_US
dc.date.accessioned2009-12-17en_US
dc.date.accessioned2010-07-07T12:05:37Z-
dc.date.available2010-07-07T12:05:37Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/36042-
dc.description.abstractThe ratio bias - according to which individuals prefer to bet on probabilities expressed as a ratio of large numbers to normatively equivalent or superior probabilities expressed as a ratio of small numbers - has recently gained momentum, with researchers especially in health economics emphasizing the policy importance of the phenomenon. Although the bias has been replicated several times, some doubts remain about its economic significance. Our two experiments show that the bias disappears once order effects are excluded, and once salient and dominant incentives are provided. This holds true for both choice and valuation tasks. Also, adding context to the decision problem does not change this outcome. No ratio bias could be found in between-subject tests either, which leads us to the conclusion that the policy relevance of the phenomenon is doubtful at best.en_US
dc.language.isoengen_US
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen_US
dc.relation.ispartofseries|aIZA Discussion Papers |x4546en_US
dc.subject.jelC91en_US
dc.subject.jelD03en_US
dc.subject.jelD81en_US
dc.subject.jelI19en_US
dc.subject.ddc330en_US
dc.subject.keywordRatio biasen_US
dc.subject.keywordfinancial incentivesen_US
dc.subject.keyworderror ratesen_US
dc.subject.keywordexperimenten_US
dc.subject.stwEntscheidung bei Unsicherheiten_US
dc.subject.stwMaßzahlen_US
dc.subject.stwBiasen_US
dc.subject.stwÖkonomischer Anreizen_US
dc.subject.stwProspect Theoryen_US
dc.subject.stwTesten_US
dc.titleThe ratio bias phenomenon: fact or artifact?en_US
dc.type|aWorking Paperen_US
dc.identifier.ppn615302467en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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