Misconceptions and Game Form Recognition: Challenges to Theories of Revealed Preference and Framing

S-Tier
Journal: Journal of Political Economy
Year: 2014
Volume: 122
Issue: 6
Pages: 1235 - 1270

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

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

Abstract

This study explores the tension between the standard economic theory of preference and nonstandard theories of preference that are motivated by an underlying theory of framing. A simple experiment fails to measure a known preference. The divergence of the measured preference from the known preference reflects a mistake, arising from some subjects' misconception of the game form. We conclude that choice data should not be granted an unqualified interpretation of preference revelation. Mistakes in choices obscured by a possible error at the foundation of the theory of framing can masquerade as having been produced by nonstandard preferences.

Technical Details

RePEc Handle
repec:ucp:jpolec:doi:10.1086/677254
Journal Field
General
Author Count
2
Added to Database
2026-01-25