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Pre-play learning and the preference reversal phenomenon
Resource type
Authors/contributors
- Kim, Younjun (Author)
- Hoffman, Elizabeth (Author)
Title
Pre-play learning and the preference reversal phenomenon
Abstract
Elicited preference rankings for two lotteries are typically inconsistent across choice and pricing tasks. We test whether pre-play learning makes preference rankings consistent. Pre-play learning denotes ex-ante lottery learning, where subjects observe playing lotteries before making decisions. We find that pre-play learning makes the average selling prices for the p-bet, of subjects who choose the p-bet, higher than their average selling prices for the $-bet. However, pre-play learning is not strong enough to equalize the rates of standard and non-standard reversals, although pre-play learning reduces the rate of standard reversals.
Publication
Southern Economic Journal
Date
10/2018
Volume
85
Issue
2
Pages
599-615
Journal Abbr
South. Econ. J.
Citation Key
kimPreplayLearningPreference2018
Accessed
10/7/19, 11:03 PM
ISSN
00384038
Short Title
Pre-play learning and the preference reversal phenomenon
Language
English
Library Catalog
DOI.org (Crossref)
Extra
0 citations (Crossref) [2023-10-31]
Citation Key Alias: ISI:000450032400014
tex.eissn: [object Object]
tex.unique-id: [object Object]
Citation
Kim, Y., & Hoffman, E. (2018). Pre-play learning and the preference reversal phenomenon. Southern Economic Journal, 85(2), 599–615. https://doi.org/10.1002/soej.12304
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