All Outputs (9)

Comparison‐specific preferences: The attentional dilution effect for delay and risk (2023)
Journal Article
Read, D., McDonald, R., & Cubitt, R. (2023). Comparison‐specific preferences: The attentional dilution effect for delay and risk. Journal of Behavioral Decision Making, 36(5), Article e2348. https://doi.org/10.1002/bdm.2348

In cross‐modal decisions, the options differ on many attributes, and in uni‐modal decisions, they differ on few. We supply new theory and data to understand how discounting for both delay and risk differs between cross‐modal and uni‐modal decisions.... Read More about Comparison‐specific preferences: The attentional dilution effect for delay and risk.

An inquiry into the nature and causes of the Description - Experience gap (2022)
Journal Article
Cubitt, R., Kopsacheilis, O., & Starmer, C. (2022). An inquiry into the nature and causes of the Description - Experience gap. Journal of Risk and Uncertainty, 65(2), 105-137. https://doi.org/10.1007/s11166-022-09393-w

The Description-Experience gap (DE gap) is widely thought of as a tendency for people to act as if overweighting rare events when information about those events is derived from descriptions but as if underweighting rare events when they experience th... Read More about An inquiry into the nature and causes of the Description - Experience gap.

Discriminating between models of ambiguity attitude: a qualitative test (2019)
Journal Article
Cubitt, R., van de Kuilen, G., & Mukerji, S. (2020). Discriminating between models of ambiguity attitude: a qualitative test. Journal of the European Economic Association, 18(2), 708–749. https://doi.org/10.1093/jeea/jvz005

During recent decades, many new models have emerged in pure and applied economic theory according to which agents’ choices may be sensitive to ambiguity in the uncertainty that faces them. The exchange between Epstein (2010) and Klibanoff et al. (201... Read More about Discriminating between models of ambiguity attitude: a qualitative test.

The strength of sensitivity to ambiguity (2018)
Journal Article
Cubitt, R., van de Kuilen, G., & Mukerji, S. (2018). The strength of sensitivity to ambiguity. Theory and Decision, 85(3-4), 275-302. https://doi.org/10.1007/s11238-018-9657-9

We report an experiment where each subject’s ambiguity sensitivity is measured by an ambiguity premium, a concept analogous to and comparable with a risk premium. In our design, some tasks feature known objective risks and others uncertainty about wh... Read More about The strength of sensitivity to ambiguity.

Conditional cooperation and betrayal aversion (2017)
Journal Article
Cubitt, R., Gaechter, S., & Quercia, S. (2017). Conditional cooperation and betrayal aversion. Journal of Economic Behavior and Organization, 141, https://doi.org/10.1016/j.jebo.2017.06.013

We investigate whether there is an association between conditional cooperation and betrayal aversion, two phenomena that we conjecture share common psychological characteristics despite having been studied largely separately in the previous literatur... Read More about Conditional cooperation and betrayal aversion.

Time matters less when outcomes differ: uni-modal versus cross-modal comparisons in intertemporal choice (2017)
Journal Article
Cubitt, R. P., McDonald, R., & Read, D. (2018). Time matters less when outcomes differ: uni-modal versus cross-modal comparisons in intertemporal choice. Management Science, 64(2), https://doi.org/10.1287/mnsc.2016.2613

Uni-modal intertemporal decisions involve comparing options of the same type (e.g. apples now versus apples later), and cross-modal decisions involve comparing options of different types (e.g. a car now versus a vacation later). As we explain, existi... Read More about Time matters less when outcomes differ: uni-modal versus cross-modal comparisons in intertemporal choice.

Stated and revealed inequality aversion in three subject pools (2015)
Journal Article
Beranek, B., Cubitt, R. P., & Gaechter, S. (2015). Stated and revealed inequality aversion in three subject pools. Journal- Economic Science Association, 1(1), https://doi.org/10.1007/s40881-015-0007-1

This paper reports data from three subject pools (n=717 subjects) using techniques based on those of Loewenstein, et al. (1989) and Blanco, et al. (2011) to obtain parameters, respectively, of stated and revealed inequality aversion. We provide a re... Read More about Stated and revealed inequality aversion in three subject pools.

On preference imprecision (2015)
Journal Article
Cubitt, R. P., Navarro-Martinez, D., & Starmer, C. (2015). On preference imprecision. Journal of Risk and Uncertainty, 50(1), https://doi.org/10.1007/s11166-015-9207-6

Recent research invokes preference imprecision to explain violations of individual decision theory. While these inquiries are suggestive, the nature and significance of such imprecision remain poorly understood. We explore three questions using a new... Read More about On preference imprecision.

Common reasoning in games: a Lewisian analysis of common knowledge of rationality (2014)
Journal Article
Cubitt, R. P., & Sugden, R. (2014). Common reasoning in games: a Lewisian analysis of common knowledge of rationality. Economics and Philosophy, 30(3), https://doi.org/10.1017/S0266267114000339

Abstract: We present a new class of models of players’ reasoning in non-cooperative games, inspired by David Lewis’s account of common knowledge. We argue that the models in this class formalise common knowledge of rationality in a way that is dis... Read More about Common reasoning in games: a Lewisian analysis of common knowledge of rationality.