Stochastic Choice and Preferences for Randomization

Volume: 125, Issue: 1, Pages: 40 - 68
Published: Feb 1, 2017
Abstract
We conduct an experiment in which subjects face the same questions repeated multiple times, with repetitions of two types: (1) following the literature, the repetitions are distant from each other; (2) in a novel treatment, the repetitions are in a row, and subjects are told that the questions will be repeated. We find that a large majority of subjects exhibit stochastic choice in both cases. We discuss the implications for models of stochastic...
Paper Details
Title
Stochastic Choice and Preferences for Randomization
Published Date
Feb 1, 2017
Volume
125
Issue
1
Pages
40 - 68
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