An experiment on aspiration-based choice. / Guney, Begum; Richter, Michael.

In: Journal of economic behavior & organization, Vol. 119, 11.2015, p. 512-526.

Research output: Contribution to journalArticlepeer-review

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An experiment on aspiration-based choice. / Guney, Begum; Richter, Michael.

In: Journal of economic behavior & organization, Vol. 119, 11.2015, p. 512-526.

Research output: Contribution to journalArticlepeer-review

Harvard

Guney, B & Richter, M 2015, 'An experiment on aspiration-based choice', Journal of economic behavior & organization, vol. 119, pp. 512-526. https://doi.org/10.1016/j.jebo.2015.09.012

APA

Guney, B., & Richter, M. (2015). An experiment on aspiration-based choice. Journal of economic behavior & organization, 119, 512-526. https://doi.org/10.1016/j.jebo.2015.09.012

Vancouver

Guney B, Richter M. An experiment on aspiration-based choice. Journal of economic behavior & organization. 2015 Nov;119:512-526. https://doi.org/10.1016/j.jebo.2015.09.012

Author

Guney, Begum ; Richter, Michael. / An experiment on aspiration-based choice. In: Journal of economic behavior & organization. 2015 ; Vol. 119. pp. 512-526.

BibTeX

@article{f4ba3c2425554860a33e3dd89183ae90,
title = "An experiment on aspiration-based choice",
abstract = "This paper experimentally studies the influence of aspirations on choice. Motivated by the theoretical model of Guney et al. (2015), we consider choice problems which may include unavailable alternatives. In a choice problem, an aspiration is the most desired alternative there (available or not). In our design, we endogenously derive both aspirations and a subjective similarity notion that operates between an aspiration and other alternatives. We find that (i) choice reversals are more likely when an unavailable aspiration alternative is added into the environment than when an unavailable non-aspiration alternative is added, (ii) an available option is more likely to be chosen when there is an unavailable aspiration that is similar to it compared to when there is no such option in the environment, (iii) choices are better explained by a similarity-based procedure when the subjective similarity notion that is derived in a separate part of the experiment is used rather than the Euclidean distance.",
author = "Begum Guney and Michael Richter",
year = "2015",
month = nov,
doi = "10.1016/j.jebo.2015.09.012",
language = "English",
volume = "119",
pages = "512--526",
journal = "Journal of economic behavior & organization",
issn = "0167-2681",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - An experiment on aspiration-based choice

AU - Guney, Begum

AU - Richter, Michael

PY - 2015/11

Y1 - 2015/11

N2 - This paper experimentally studies the influence of aspirations on choice. Motivated by the theoretical model of Guney et al. (2015), we consider choice problems which may include unavailable alternatives. In a choice problem, an aspiration is the most desired alternative there (available or not). In our design, we endogenously derive both aspirations and a subjective similarity notion that operates between an aspiration and other alternatives. We find that (i) choice reversals are more likely when an unavailable aspiration alternative is added into the environment than when an unavailable non-aspiration alternative is added, (ii) an available option is more likely to be chosen when there is an unavailable aspiration that is similar to it compared to when there is no such option in the environment, (iii) choices are better explained by a similarity-based procedure when the subjective similarity notion that is derived in a separate part of the experiment is used rather than the Euclidean distance.

AB - This paper experimentally studies the influence of aspirations on choice. Motivated by the theoretical model of Guney et al. (2015), we consider choice problems which may include unavailable alternatives. In a choice problem, an aspiration is the most desired alternative there (available or not). In our design, we endogenously derive both aspirations and a subjective similarity notion that operates between an aspiration and other alternatives. We find that (i) choice reversals are more likely when an unavailable aspiration alternative is added into the environment than when an unavailable non-aspiration alternative is added, (ii) an available option is more likely to be chosen when there is an unavailable aspiration that is similar to it compared to when there is no such option in the environment, (iii) choices are better explained by a similarity-based procedure when the subjective similarity notion that is derived in a separate part of the experiment is used rather than the Euclidean distance.

U2 - 10.1016/j.jebo.2015.09.012

DO - 10.1016/j.jebo.2015.09.012

M3 - Article

VL - 119

SP - 512

EP - 526

JO - Journal of economic behavior & organization

JF - Journal of economic behavior & organization

SN - 0167-2681

ER -