Abstract
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.
| Original language | English |
|---|---|
| Pages (from-to) | 641-648 |
| Number of pages | 8 |
| Journal | European Economic Review |
| Volume | 39 |
| Issue number | 3-4 |
| Publication status | Published - 1 Apr 1995 |
Keywords
- Decision theory
- Imprecise preferences
- Uncertainty