3. Starmer (2000) noted the growing evidence in the literature that choices under risk tend to change
Question:
3. Starmer (2000) noted the growing evidence in the literature that choices under risk tend to change with experience, and he poses the question (p.376): “[are] individuals discovering expected utility preferences?” How could the models developed in this chapter be extended to allow a test of this hypothesis? Think in particular of allowing the weighting parameters to depend on experience.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Experimetrics Econometrics For Experimental Economics
ISBN: 9780230250239
1st Edition
Authors: Peter Moffatt
Question Posted: