Journal or Book Title
Southern Economic Journal
Elicited preference rankings for two lotteries are typically inconsistent across choice and pricing tasks. Q2 We test whether pre-play learning makes preference rankings consistent. Pre-play learning denotes exante lottery learning, where subjects observe playing lotteries before making decisions. We find that preplay learning makes the average selling prices for the p-bet, of subjects who choose the p-bet, higher than their average selling prices for the $-bet. However, pre-play learning is not strong enough to equalize the rates of standard and non-standard reversals, although pre-play learning reduces the rate of standard reversals.
C91, D81, D12
Southern Economic Association
Kim, Younjun and Hoffman, Elizabeth, "Pre‐Play Learning and the Preference Reversal Phenomenon" (2018). Economics Publications. 649.
Available for download on Thursday, October 15, 2020