1999
DOI: 10.1002/(sici)1099-0771(199903)12:1<19::aid-bdm307>3.0.co;2-b
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A violation of dominance and the consumption value of gambling
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Cited by 12 publications
(5 citation statements)
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“…Thus, the children's judgements can also be taken to violate dominance. This principle is not often discussed, but Tversky and Kahneman (1981) and Johnson, O'Brien, and Song Shin (1999) report subtle violations of dominance in adults. Regardless of which utility principle is the focus of analysis, however, the crossover clearly violates additive utility.…”
Section: Discussionmentioning
confidence: 99%
“…Thus, the children's judgements can also be taken to violate dominance. This principle is not often discussed, but Tversky and Kahneman (1981) and Johnson, O'Brien, and Song Shin (1999) report subtle violations of dominance in adults. Regardless of which utility principle is the focus of analysis, however, the crossover clearly violates additive utility.…”
Section: Discussionmentioning
confidence: 99%
“……”
Section: Pari-mutuel Wageringmentioning
confidence: 99%
“…Perhaps gambling is the only 'realistic' way in which low-income risk-averse households can envisage purchasing indivisible commodities (Ng, 1965). Perhaps the simplest explanation is the best: Johnson, O'Brien and Shin (1999) use data on bets placed on horse racing to identify a positive consumption value of gambling that is increasing in the size of the wager. tosses.…”
Section: Valuing Uncertain Outcomesmentioning
confidence: 99%
