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BEGIN:VEVENT
DTSTAMP:20260626T153705Z
DTSTART;VALUE=DATE-TIME:20111208T143000
DTEND;VALUE=DATE-TIME:20111208T155000
SUMMARY:DR@W Forum - Ganna Pogrebna (Department of Economics\, University
  of ÌÇÐÄTV)
TZID:Europe/London
UID:20111208-8a1785d77b065d9b017b5dc5cb4b1e82@warwick.ac.uk
CREATED:20110922T144258Z
DESCRIPTION:Ganna Pogrebna (Department of Economics\, University of Warwi
 ck) Preference Reversals and Range Effects (joint work with Hela Maafi) 
 I will present results from a recent experiment on preference reversals.
  Much research in decision theory evaluates the probability bet (P-bet) 
 versus the dollar bet ($-bet). The P-bet is a lottery with a relatively 
 high chance of receiving a relatively small outcome. The $-bet is a lott
 ery with a relatively low chance of receiving a relatively large outcome
 . In two tasks\, individuals (a) state a minimum price for selling each 
 lottery and (b) make a straight choice between the lotteries. Although t
 hese tasks are equivalent\, individuals exhibit preference reversals (he
 nceforth\, PR): they tend to state higher minimum price for the $-bet bu
 t select P-bet in a straight choice (e.g.\, Lichtenstein and Slovic\, 19
 71\; Seidl\, 2002). The purpose of proposed research project is to explo
 re whether and to what extent responses in the P-bet/$-bet comparisons a
 re affected by the interval on which the minimum selling price for each 
 lottery is determined (range effects). We show that restricting selling 
 price range decreases but does not eliminate preference reversals. We al
 so introduce several ways to represent lotteries and discuss the implica
 tions of these representations on preference reversals.
LOCATION:Cowling Room (S2.77)
CATEGORIES:Draw Forum
LAST-MODIFIED:20210819T093724Z
ORGANIZER;CN=Ganna Pogrebna:
END:VEVENT
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