| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15973 |
| DP15973 An Experimental Analysis of the Prize-Probability Tradeoff in Stopping Problems | |
| Yair Antler; Ayala Arad | |
| 发表日期 | 2021-03-27 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We experimentally examine how individuals stop risky processes such as the evolution of prices when they have commitment power. We find types who consistently choose stopping rules with large potential losses and small potential gains to induce a high winning probability (L-types), although such choices entail a considerable downside risk. A smaller proportion of types choose stopping rules with the opposite characteristics. While the latter pattern is consistent with cumulative prospect theory, the former pattern is inconsistent with prominent decision theories. We suggest that L-types solve the prize-probability tradeoff in a qualitative manner, putting more emphasis on the winning probability. |
| 主题 | Organizational Economics |
| 关键词 | Commitment Risky processes Stopping problems Type classification |
| URL | https://cepr.org/publications/dp15973 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544961 |
| 推荐引用方式 GB/T 7714 | Yair Antler,Ayala Arad. DP15973 An Experimental Analysis of the Prize-Probability Tradeoff in Stopping Problems. 2021. |
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