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144474 |
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|a Fudenberg, Drew
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|a Puri, Indira
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|a Simplicity and Probability Weighting in Choice under Risk
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|b American Economic Association,
|c 2022-08-26T18:43:15Z.
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|z Get fulltext
|u https://hdl.handle.net/1721.1/144474
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|a <jats:p> We present a speculative application of model estimates from Fudenberg and Puri (2021) to prize-linked savings in South Africa. The models used include one combining simplicity theory (Puri 2018, 2022), a preference for lotteries with fewer possible outcomes, with cumulative prospect theory. The results and those of prior literature indicate that both simplicity and probability weighting have a role to play in understanding behavior in choice under risk. We discuss the properties of these models and their implications for behavior. </jats:p>
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|a Article
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|t 10.1257/pandp.20221091
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| 773 |
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|t AEA Papers and Proceedings
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