WP 2013

WP 2013-03 Revealed Preference and the Strength/Weight Hypothesis

Posted On April 16, 2013
Categories Working Papers, WP 2013

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ABSTRACT. The strength/weight hypothesis is the claim that people are more persuaded by extreme evidence (high strength) than by reliable evidence (high weight), even when these two dimensions of evidence are diagnostically equivalent according to Bayes Rule. We investigate whether this hypothesis is supported when tested in a revealed preference experiment. We… more »

WP 2013-02 Dual Criteria Decisions

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Published in 2014 in Journal of Economic Psychology, Volume 41.

ABSTRACT. The most popular models of decision making use a single criterion to evaluate projects or lotteries. However, decision makers may actually consider multiple criteria when evaluating projects. We consider a dual criteria model from psychology. This model integrates the familiar… more »

WP 2013-01 Subjective Belief Distributions and the Characterization of Economic Literacy

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Published in 2015 in Journal of Behavioral and Experimental Economics, Volume 59.

ABSTRACT. We characterize the literacy of an individual in a domain by their elicited subjective belief distribution over the possible responses to a question posed in that domain. We consider literacy across several financial and economic domains. We find… more »