Séminaire GREDEG - Barna Bakó, (Corvinus University of Budapest)

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The Achilles' Heel of Salience Theory and a Way to Fix It

23-05-2019 - 14h00 à 16h00

Title: The Achilles' Heel of Salience Theory and a Way to Fix It
(co-author : Gabor Nezveda)

 

Abstract: Salience theory has been successfully used to explain a wide range of empirical and experimental phenomena such as the Allais paradox, framing effect, the preference reversal phenomenon or the decoy and compromise effects. Yet, the theory carries a notable flaw, namely, under certain circumstances it suggests that a salient thinker may prefer a dominated option even when a strictly dominant alternative is available to her. To solve this problem we propose a possible alteration of the theory and show how it accounts for the same phenomena as the salience theory.
 More about Barna Bakó: http://web.uni-corvinus.hu/~bbako/
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