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SSRN Electronic Journal
Article . 2014 . Peer-reviewed
Data sources: Crossref
SSRN Electronic Journal
Article . 2013 . Peer-reviewed
Data sources: Crossref
EconStor
Research . 2014
Data sources: EconStor
EconStor
Research . 2014
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Flipping a Coin: Theory and Evidence

Authors: Dwenger, Nadja; Kübler, Dorothea; Weizsäcker, Georg;

Flipping a Coin: Theory and Evidence

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 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)

Keywords

Verantwortung, election, preference for randomization, Wahl, decision making, Experiment, Stochastic dominance violations,individual decision making,university choice,matching, stochastics, Entscheidungsfindung, Abstimmung, experiment, ddc:330, matching, individual decision making, Stochastik, menu-dependent preference, preference for randomization, menu-dependent preference, individual decision making, university choice, matching, voting, Stochastic dominance violations, D01, D03, responsibility, university choice, jel: jel:D01, jel: jel:D03

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    selected citations
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    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    15
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Average
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Top 10%
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Top 10%
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
15
Average
Top 10%
Top 10%
Green
bronze