Journal of Political Economy Vol. 125 No. 1 2017
Stochastic Choice and Preferences for Randomization
Abstract
We conduct an experiment in which subjects face the same questions repeated multiple times, with repetitions of two types: (1) following the literature, the repetitions are distant from each other; (2) in a novel treatment, the repetitions are in a row, and subjects are told that the questions will be repeated. We find that a large majority of subjects exhibit stochastic choice in both cases. We discuss the implications for models of stochastic choice.
- DOI
- 10.1086/689774
- Volume
- 125
- Issue
- 1
- Pages
- 40-68
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref