Campus Units

Economics

Document Type

Article

Publication Version

Accepted Manuscript

Publication Date

10-15-2018

Journal or Book Title

Southern Economic Journal

DOI

10.1002/soej.12304

Abstract

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.

JEL Classification

C91, D81, D12

Comments

This is a manuscript of an article published as Younjun Kim and Elizabeth Hoffman, "Pre-Play Learning and the Preference Reversal Phenomenon," Southern Economic Journal (2018), doi: 10.1002/soej.12304. Posted with permission.

Copyright Owner

Southern Economic Association

Language

en

Available for download on Thursday, October 15, 2020

Published Version Working Paper

Share

COinS