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Article
Pre‐Play Learning and the Preference Reversal Phenomenon
Southern Economic Journal
  • Younjun Kim, Southern Connecticut State University
  • Elizabeth Hoffman, Iowa State University
Document Type
Article
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.

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
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/