Recent papers by Harless and Camerer (1994) and Hey and Orme (1994) have employed two rather different models of errors in decision making under uncertainty. The present paper develops a third approach and shows how different stochastic specifications of the same deterministic 'core' theory may generate very different (and sometimes surprising) hypotheses.
|Number of pages||8|
|Journal||European Economic Review|
|Publication status||Published - 1 Apr 1995|
- Decision theory
- Imprecise preferences