Download full text
(external source)
Citation Suggestion
Please use the following Persistent Identifier (PID) to cite this document:
https://hdl.handle.net/10419/96936
Exports for your reference manager
Flipping a coin: theory and evidence
[working paper]
Corporate Editor
Wissenschaftszentrum Berlin für Sozialforschung gGmbH
Abstract We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments our participants often choose a stochastically dominated lottery between outcomes, contradicting most theories of choi... view more
We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an external device, e.g., a coin flip. In a series of experiments our participants often choose a stochastically dominated lottery between outcomes, contradicting most theories of choice such as expected utility. A large data set on university applications in Germany shows a choice pattern that is consistent with a preference for randomization, entailing substantial allocative consequences. The findings are consistent with our theory of responsibility aversion. (author's abstract)... view less
Keywords
decision making; voting; election; stochastics; responsibility; experiment
Classification
General Psychology
Document language
English
Publication Year
2014
City
Berlin
Page/Pages
42 p.
Series
Discussion Papers / Wissenschaftszentrum Berlin für Sozialforschung, Forschungsschwerpunkt Markt und Entscheidung, Abteilung Verhalten auf Märkten, SP II 2013-201r
Handle
https://hdl.handle.net/10419/96936
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications