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dc.contributor.authorMorone, Andrea
dc.contributor.authorMorone, Piergiuseppe
dc.identifier.citationMORONE, A.; MORONE, P. Estimating individual and group preference functionals using experimental data. Theory and Decision, 2014, 77.3: 403-422.ca_CA
dc.description.abstractIn this paper, the empirical performance of several preference functionals is assessed using individual and group experimental data. We investigate if there is a risky choice theory that fits group decisions better than alternative theories, and if there are significant differences between individual and group choices. Experimental findings reported in this paper provide answers to both of those questions showing that expected utility gains a “winning” position over higher-level functionals (we considered disappoint aversion and two variants of rank-dependent utility) when risky choices are undertaken by individuals as well as by small groups. However, in the group experiment, alternatives (and, most notably, disappoint aversion) improve their relative performance, a fact that hints at the existence of differences between individual and group choices. We interpreted this result as evidence that feelings-like disappointment aversion become stronger in group decision.ca_CA
dc.format.extent19 p.ca_CA
dc.publisherSpringer Verlagca_CA
dc.relation.isPartOfTheory and Decision October 2014, Volume 77, Issue 3, pp 403-422ca_CA
dc.rights© Springer International Publishing AG, Part of Springer Science+Business Mediaca_CA
dc.subjectgroup decisionca_CA
dc.subjectexpected utilityca_CA
dc.subjectrisk and uncertaintyca_CA
dc.titleEstimating Individual and Group Preference Functionals Using Experimental Dataca_CA

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