Preference measurement and manipulation in experimental economics

Hande Erkut, Ernesto Reuben

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One of the foundations of economic theory is that the choices individuals make are driven by their preferences. Importantly for economic modeling, preferences are commonly assumed to be rationalizable by a utility function. The predictive ability of most microeconomic models relies on properly quantifying these preferences and their rationalizability. Hence, this is a challenging but necessary task. In this chapter, we discuss methodologies used in experimental economics to measure preference and their degree of consistency with utility maximization. Topics include the measurement of risk, intertemporal, and social preferences. Moreover, we discuss the effects of manipulating revealed preferences though framing and the revelation of normative information.
langue originaleAnglais
titreHandbook of Research Methods and Applications in Experimental Economics
rédacteurs en chefArthur Schram, Aljaz Ule
EditeurEdward Elgar Publishing Ltd.
ISBN (Electronique)9781788110563
ISBN (imprimé)9781788110556
Les DOIs
étatPublié - 26 juil. 2019
Modification externeOui

Série de publications

NomEconomics 2019
EditeurEdward Elgar

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