Attema

Badia

Bansback

Bleichrodt

Bostic

Butler

Fischer

Fitts

Holt

Lichtenstein

Loomes

Oliver

Robinson

Seidl

Slovic

Sumner

Tversky

English

José Luis Pinto-Prades

Fernando Ignacio Sánchez-Martínez

José María Abellán-Perpiñán

Jorge E. Martínez-Pérez

Crossref

Health Economics

Reducing preference reversals: The role of preference imprecision and nontransparent methods

Preferences elicited with matching and choice usually diverge (as characterised by preference reversals), violating a basic rationality requirement, namely, procedure invariance. We report the results of an experiment that shows that preference reversals between matching (Standard Gamble in our case) and choice are reduced when the matching task is conducted using nontransparent methods. Our results suggest that techniques based on nontransparent methods are less influenced by biases (i.e., compatibility effects) than transparent methods. We also observe that imprecision of preferences influences the degree of preference reversals. The preference reversal phenomenon is less strong in subjects with more precise preferences

Pinto-Prades, José Luis

Sánchez-Martínez, Fernando Ignacio

Abellán-Perpiñán, José María

Martínez-Pérez , Jorge E.

ResearchOnline@GCU

Reducing preference reversals: the role of preference imprecision and non-transparent methods

https://researchonline.gcu.ac.uk/ws/files/25954979/maintext_revised_HEC_15_0525.pdf

Reducing preference reversals: the role of preference imprecision and non-transparent methods

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ResearchOnline@GCU