Article
Pre‐Play Learning and the Preference Reversal Phenomenon
Southern Economic Journal
Document Type
Article
Disciplines
Publication Version
Accepted Manuscript
Publication Date
10-15-2018
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.
Copyright Owner
Southern Economic Association
Copyright Date
2018
Language
en
Citation Information
Younjun Kim and Elizabeth Hoffman. "Pre‐Play Learning and the Preference Reversal Phenomenon" Southern Economic Journal (2018) Available at: http://works.bepress.com/elizabeth-hoffman/31/
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.