Inconsistency Pays?: Time-Inconsistent Subjects and EU Violators Earn More
نویسندگان
چکیده
منابع مشابه
Inconsistency Pays ? : Time - Inconsistent Subjects and EU Violators Earn More
Experimental choice data from 881 subjects based on 40 time-tradeoff items and 32 risky choice items reveal that most subjects are time-inconsistent and most violate the axioms of expected utility theory. These inconsistencies cannot be explained by well-known theories of behavioral inconsistency, such as hyperbolic discounting and cumulative prospect theory. Aggregating expected payoffs and th...
متن کاملMunich Personal RePEc Archive
Experimental choice data from 881 subjects based on 40 time-tradeoff items and 32 risky choice items reveal that most subjects are time-inconsistent and most violate the axioms of expected utility theory. These inconsistencies cannot be explained by well-known theories of behavioral inconsistency, such as hyperbolic discounting and cumulative prospect theory. Aggregating expected payoffs and th...
متن کاملMeasuring Inconsistency through Minimal Inconsistent Sets
In this paper, we explore the links between measures of inconsistency for a belief base and the minimal inconsistent subsets of that belief base. The minimal inconsistent subsets can be considered as the relevant part of the base to take into account to evaluate the amount of inconsistency. We define a very natural inconsistency value from these minimal inconsistent sets. Then we show that the ...
متن کاملOn the Inconsistency of Mumma's Eu
In several articles, John Mumma has presented a formal diagrammatic system Eu meant to give an account of one way in which Euclid’s use of diagrams in the Elements could be formalized. However, largely because of the way in which it tries to limit case analysis, this system ends up being inconsistent, as shown here. Eu also suffers from several other problems: it is unable to prove several wide...
متن کاملProbabilistic Reasoning with Inconsistent Beliefs Using Inconsistency Measures
The classical probabilistic entailment problem is to determine upper and lower bounds on the probability of formulas, given a consistent set of probabilistic assertions. We generalize this problem by omitting the consistency assumption and, thus, provide a general framework for probabilistic reasoning under inconsistency. To do so, we utilize inconsistency measures to determine probability func...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2008
ISSN: 1556-5068
DOI: 10.2139/ssrn.1692437