Forum
What is DR@W Forum?
DR@W Forum is an interdisciplinary discussion series which focuses on theoretical and empirical research about decision making.
The usual structure of the forum is a 30 - 45 minute introduction of the topic/working paper, with ample additional time for discussion.
The audience prefers discussing work-in-progress topics as opposed to finished papers. We meet on Thursdays between 2:30 and 3:45pm during term time. Contact John Taylor (John.Taylor[at]wbs.ac.uk) if you would like to suggest a speaker for a future event. Notifications of upcoming DR@W Forum events along with other decision research related activities can be obtained by registering with the moderated mailing list - email draw at newlistserv dot warwick dot ac dot uk to be added to the list.
If you attend DR@W please take some time to fill in our survey It helps us understand who our audience are and how we can widen participation.
DR@W Forum: Georgios Gerasimou (Glasgow)
We ask if humans behave more consistently with theories of rational choice when they face the same decision problems repeatedly, without receiving any feedback. We designed an experiment where 15 menus of various sizes, drawn from a set of 7 lotteries with 3 monetary outcomes each, were presented 5 times in a structured semi-random order. We conducted this experiment in laboratories in the UK and in Germany. Significantly more subjects behaved like utility and expected-utility maximisers in the last 15 than in the first 15 identical decision problems. Taking the utility-maximising preferences revealed in those subjects' last 15 choices as their “true preferences”, we find that the probability of choosing their preferred lottery at a menu earlier in the experiment is significantly increasing in their prior exposure to that lottery. We discuss implications that such introspective learning and its “more exposure” driver have for preference elicitation.