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A quantitative measurement of regret theory / Han Bleichrodt in Management science, Vol. 56 N° 1 (Janvier 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 1 (Janvier 2010) . - pp. 161-175 Titre : A quantitative measurement of regret theory Type de document : texte imprimé Auteurs : Han Bleichrodt, Auteur ; Alessandra Cillo, Auteur ; Enrico Diecidue, Auteur Année de publication : 2010 Article en page(s) : pp. 161-175 Note générale : Management Langues : Anglais (eng) Mots-clés : Regret  theory  Utility  measurement  Decision  under  uncertainty Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper introduces a method to measure regret theory, a popular theory of decision under uncertainty. Regret theory allows for violations of transitivity, and it may seem paradoxical to quantitatively measure an intransitive theory. We adopt the trade-off method and show that it is robust to violations of transitivity. Our method makes no assumptions about the shape of the functions reflecting utility and regret. It can be performed at the individual level, taking account of preference heterogeneity. Our data support the main assumption of regret theory, that people are disproportionately averse to large regrets, even when event-splitting effects are controlled for. The findings are robust: similar results were obtained in two measurements using different stimuli. The data support the reliability of the trade-off method: its measurements could be replicated using different stimuli and were not susceptible to strategic responding. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/56/1.toc [article] A quantitative measurement of regret theory [texte imprimé] / Han Bleichrodt, Auteur ; Alessandra Cillo, Auteur ; Enrico Diecidue, Auteur . - 2010 . - pp. 161-175. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 1 (Janvier 2010) . - pp. 161-175 Mots-clés : Regret  theory  Utility  measurement  Decision  under  uncertainty Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper introduces a method to measure regret theory, a popular theory of decision under uncertainty. Regret theory allows for violations of transitivity, and it may seem paradoxical to quantitatively measure an intransitive theory. We adopt the trade-off method and show that it is robust to violations of transitivity. Our method makes no assumptions about the shape of the functions reflecting utility and regret. It can be performed at the individual level, taking account of preference heterogeneity. Our data support the main assumption of regret theory, that people are disproportionately averse to large regrets, even when event-splitting effects are controlled for. The findings are robust: similar results were obtained in two measurements using different stimuli. The data support the reliability of the trade-off method: its measurements could be replicated using different stimuli and were not susceptible to strategic responding. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/56/1.toc