Violations of conjoint independence in binary choices: The equate-to-differentiate interpretation
نویسنده
چکیده
The studies described in the present paper extend the author s earlier work on testing the ‘‘independence condition’’ for decisions under risk to the ‘‘conjoint independence’’ for multi-attribute decisions. The ‘‘equate-to-differentiate’’ approach, which is proposed as a means by which weak dominance can be made applicable in more general cases in binary choice, is presented to account for the observed violations of independence. [Journal of Business 59 (1986) S251] transparency hypothesis concerning violations of the independence axiom is compared with the equate-to-differentiate hypothesis. The findings for various decision tasks favor the equate-to-differentiate explanation. The results support the claim that the violation of independence should be observed when the equate-to-differentiate strategy is caused to be changed by the experimental conditions applied, but not otherwise. 2002 Elsevier Science B.V. All rights reserved.
منابع مشابه
Au th or ' s pe rs on al co py The equate - to - differentiate ’ s way of seeing the prisoner
In this paper we advocate the application of the equate-to-differentiate rule to the prisoner’s dilemma. As an alternative to the family of expected utility theory, the equate-to-differentiate approach [S. Li, A behavioral choice model when computational ability matters, Applied Intelligence 20 (2004) 147–163; S. Li, Equate-to-differentiate approach: an application in binary choice under uncert...
متن کاملتغییرات جدید الگوی دودویی محلی و طبقه بندی و قسمت بندی تصاویر بافتی بستر دریا
Texture analysis plays an important role in image processing. Considering the extraordinary appearance texture sonar images, texture analysis are good choices for analysis of acoustic seabed images. Local binary pattern (LBP) operator is a very efficient and multi-resolution texture descriptor. It acquires appropriate information from the illumination and moods of images. Despite many developin...
متن کاملTesting transitivity of preferences using linked designs
Three experiments tested if individuals show violations of transitivity in choices between risky gambles in linked designs. The binary gambles varied in the probability to win the higher (better) prize, the value of the higher prize, and the value of the lower prize. Each design varied two factors, with the third fixed. Designs are linked by using the same values in different designs. Linked de...
متن کاملAllais Paradoxes Can be Reversed by Presenting Choices in Canonical Split Form
This paper tests Birnbaum’s (2004) theory that the constant consequence paradoxes of Allais are due to violations of coalescing, the assumption that when two branches lead to the same consequence, they can be combined by adding their probabilities. Rank dependent utility and cumulative prospect theory imply that the Allais paradoxes are due to violations of restricted branch independence, a wea...
متن کاملThree New Tests of Independence That Differentiate Models of Risky Decision Making
T paper tests new “independence” properties to compare three models of risky decision making. According to the rank affected multiplicative (RAM) weights model, all three properties should be satisfied; according to the transfer of attention exchange (TAX) model, two should be satisfied and one can be violated. However, according to cumulative prospect theory (CPT), all three properties will be...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید
ثبت ناماگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید
ورودعنوان ژورنال:
- European Journal of Operational Research
دوره 148 شماره
صفحات -
تاریخ انتشار 2003