Stable Randomisation
Bibliographic Data
| ID | 9705706 |
|---|---|
| Authors | Marina Agranov (0000-0002-0642-7975, California Institute of Technology and NBER , USA), Paul Healy (0000-0002-1920-3778, The Ohio State University, corresponding author), Paul J Healy (The Ohio State University), Kirby Nielsen (0000-0003-4536-1021, California Institute of Technology) |
| Year | 2023 |
| Volume | 133 |
| Issue | 655 |
| Pages | 2553-2579 |
| Publication date | 2023-09-11 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (PUBLISHER • GB) |
| DOI | 10.1093/ej/uead039 |
| OpenAlex | W4382284165 |
| Language | EN |
| Citations received | 1 |
| References cited | 95 |
We design a laboratory experiment to identify whether a preference for randomisation defines a stable type across different choice environments. In games and individual decisions, subjects face 20 simultaneous repetitions of the same choice. Subjects can randomise by making different choices across the repetitions. We find that randomisation does define a type that is predictable across domains. A sizeable fraction of individuals randomise in all domains, even in questions that offer a stochastically dominant option. For some mixers, dominated randomisation is responsive to intervention. We explore theoretical foundations for mixing, and find that most preference-based models are unable to accommodate our results
Econometrics · Fraction (chemistry · Intervention (counseling · Preference · Statistics · Computer Science · Decision-Making and Behavioral Economics · Economic and Environmental Valuation · Experimental Behavioral Economics Studies · Mathematics · Psychology
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Eliciting risk preferences
A Theory of Disappointment Aversion
Temporal Resolution of Uncertainty and Dynamic Choice Theory
Quantal Response Equilibria for Normal Form Games
Subject pool recruitment procedures
Measuring and Bounding Experimenter Demand
Measuring individual risk attitudes in the lab
A within-subject analysis of other-regarding preferences
Attitudes Toward Risk
Weighing risk and uncertainty.
Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns
An Experiment on Risk Taking and Evaluation Periods
Is trust a risky decision?
A Smooth Model of Decision Making under Ambiguity
Experimental methods
A theory of anticipated utility
Advances in prospect theory
Prospect Theory
Temporal Stability of Time Preferences
Stochastic Choice and Noisy Beliefs in Games
Stability of experimental and survey measures of risk, time, and social preferences
How general are time preferences? Eliciting good-specific discount rates
Stochastic Choice and Preferences for Randomization
Crime and Punishment
Experimenting with Measurement Error
A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox
Nonlinear Preference and Utility Theory
Stochastic Choice Functions Generated From Deterministic Preferences Over Lotteries
Probabilities vs Money
Regret Theory
Information processing, situation specificity, and the generality of risk-taking behavior
Belief in the law of small numbers
| Unique citing works | 1 |
|---|---|
| Citations per year | 1 |
| Citation span | 2025 - 2025 (1) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |