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Sven Grüner
''Correlates of Multiple Switching in the Holt and Laury Procedure''
( 2017, Vol. 37 No.1 )
This paper addresses inconsistent choice behavior in the Holt and Laury (2002) procedure. Instead of simply dropping inconsistent subjects, we may be able to learn something from their behavior. It appears that the more the subjects assess themselves as being risk-averse, the less likely they are to violate expected utility theory. Similar patterns are found for experimental subjects with a major in economics.
Keywords: Risk attitude; Holt and Laury procedure; inconsistent choice behavior
JEL: C9 - Design of Experiments: General
Manuscript Received : Dec 02 2016 Manuscript Accepted : Feb 22 2017

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