Foreign language learning: an econometric analysis
In: Discussion paper series 10101
In: International macroeconomics and public policy
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In: Discussion paper series 10101
In: International macroeconomics and public policy
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 2, Heft 2, S. 307-313
ISSN: 0161-8938
In: Special studies in international economics and development
In: The review of black political economy: analyzing policy prescriptions designed to reduce inequalities, Band 12, Heft 4, S. 111-134
ISSN: 1936-4814
In: Journal of political economy, Band 80, Heft 6, S. 1081-1100
ISSN: 1537-534X
In: Springer eBook Collection
In: Oxford Agrarian Studies, Band 3, Heft 2, S. 101-110
In: Bulletin of economic research, Band 73, Heft 4, S. 545-554
ISSN: 1467-8586
AbstractIn this paper, we econometrically examine the performance of salience theory (ST) for explaining observed behavior outside of a fully defined state contingent setting. Using a well‐known dataset, we find that only a minority of people act consistently in the way proposed by ST when confronted with lottery choices for which only marginal probabilities are presented. By estimating the implied dependence structure of payoffs consistent with ST, only a minority of people infer independent payoffs when attaching probabilities to states, a finding at odds with ST. Instead, a majority treat lotteries as having positively correlated payoffs which raise questions about the independence assumption in ST. Finally, we also find that ST explains choice behavior less consistently than expected utility. Thus, ST should not be assumed to be superior to the most prominent models within the literature when employed outside of particular contexts.
In: The review of black political economy: analyzing policy prescriptions designed to reduce inequalities, Band 11, Heft 2, S. 267-276
ISSN: 1936-4814
In: CESifo Working Paper Series No. 4923
SSRN
Working paper
In: Journal of Business & Economic Statistics
SSRN