The Disjunction Effect and Reason-Based Choice in Games |
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| Institution: | 1. School of Computer and Information Science, Southwest University, Chongqing 400715, China;2. Center for Quantitative Sciences, Vanderbilt University School of Medicine, Nashville, TN, 37232, USA;3. Research Center for Mathematics and Economics, Tianjin University of Finance and Economics, Tianjin 300222, China;4. Institute of Integrated Automation, School of Electronic and Information Engineering, Xi’an Jiaotong University, Xi’an, Shaanxi 710049, China;5. Big Data Decision Institute, Jinan University, Tianhe, Guangzhou 510632, China;6. Department of Biomedical Informatics, Vanderbilt University School of Medicine, Nashville, TN, 37232, USA |
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| Abstract: | This paper reports an experiment that extends previous find ings of the disjunction effect, sometimes described as a violation of Savage's sure-thing principle. Evidence of the disjunction ef fect is observed using elicited beliefs about others' actions (rather than controlled beliefs) in a prisoners' dilemma studied by Shafir and Tversky (1992) as well as in an asymmetric version of it and in a nondilemma game with a unique equilibrium. Debiasing tech niques as well as implications for these extensions are discussed. |
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