Making Case-Based Decision Theory Directly Observable

B-Tier
Journal: American Economic Journal: Microeconomics
Year: 2017
Volume: 9
Issue: 1
Pages: 123-51

Score contribution per author:

0.503 = (α=2.01 / 4 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Case-based decision theory (CBDT) provided a new way of revealing preferences, with decisions under uncertainty determined by similarities with cases in memory. This paper introduces a method to measure CBDT that requires no commitment to parametric families and that relates directly to decisions. Thus, CBDT becomes directly observable and can be used in prescriptive applications. Two experiments on real estate investments demonstrate the feasibility of our method. Our implementation of real incentives not only avoids the income effect, but also avoids interactions between different memories. We confirm CBDT's predictions except for one violation of separability of cases in memory.

Technical Details

RePEc Handle
repec:aea:aejmic:v:9:y:2017:i:1:p:123-51
Journal Field
General
Author Count
4
Added to Database
2026-01-24