Testing for juxtaposition and event-splitting effects

Starmer, C. and Sugden, R. (1993) Testing for juxtaposition and event-splitting effects. Journal of Risk and Uncertainty, 6 (3). pp. 235-254. ISSN 0895-5646

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Regret theory predicts that choices over prospects will be systematically influenced by the juxtaposition of outcomes in the payoff matrix. Experiments have found apparent juxtaposition effects of this kind. However, these experiments have not controlled for "event-splitting effects" (ESEs), by which the subjective weight given to an outcome depends on the number of states of the world in which it occurs, as well as on their combined probability. An experiment is reported that tests independently for juxtaposition effects and ESEs. The results suggest that the apparent juxtaposition effects found in previous experiments are largely due to ESEs.

Item Type: Article
Uncontrolled Keywords: event-splitting effect,juxtaposition effect,regret theory
Faculty \ School:
Faculty of Social Sciences > School of Economics
Related URLs:
Depositing User: Pure Connector
Date Deposited: 19 Nov 2013 16:15
Last Modified: 24 Oct 2022 05:04
URI: https://ueaeprints.uea.ac.uk/id/eprint/44514
DOI: 10.1007/BF01072613

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