The relevance of irrelevant alternatives |
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| Authors: | Eike Benjamin Kroll Bodo Vogt |
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| Affiliation: | a Karlsruhe Institute of Technology, Institute of Economic Theory and Statistics, Germanyb Otto-von-Guericke-University Magdeburg, Faculty of Management and Economics, Empirical Economics, Germany |
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| Abstract: | In an experimental setting, subjects face a standard elicitation task for certainty equivalents. We show that when a third, objectively irrelevant, option is added to the standard task, the willingness to take risks increases. |
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| Keywords: | C9 D80 |
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