Replication data for: Imprecision as an Account of the Preference Reversal Phenomenon

Principal Investigator(s): View help for Principal Investigator(s) David J. Butler; Graham C. Loomes

Name	File Type	Size	Last Modified
20050175_3data			12/07/2019 12:26:PM
20050175_3programfiles			12/07/2019 12:26:PM
LICENSE.txt	text/plain	14.6 KB	12/07/2019 07:26:AM

Project Citation:

Butler, David J., and Loomes, Graham C. Replication data for: Imprecision as an Account of the Preference Reversal Phenomenon. Nashville, TN: American Economic Association [publisher], 2007. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116258V1

Project Description

Summary: Many individuals' choices and valuations involve a degree of uncertainty/imprecision. This paper reports an experiment designed to obtain some measure of imprecision and to examine the extent to which it can explain preference reversals of two opposite forms, one of which appears not to have been reported previously. The model of imprecision we examine not only predicts both patterns but also provides an account of earlier results that are otherwise not well explained. The results suggest that any successful descriptive theory of choice and valuation will need to allow in some way for the imprecision surrounding people's decisions. (JEL C91, D11, D81)

Scope of Project

JEL Classification:
      C91 Design of Experiments: Laboratory, Individual
      D11 Consumer Economics: Theory
      D81 Criteria for Decision-Making under Risk and Uncertainty

Related Publications

Download this project

Published Versions

V1 [2019-12-07]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.