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DTSTART;TZID=Europe/Paris:20200310T121500
DTEND;TZID=Europe/Paris:20200310T133000
DTSTAMP:20260712T211647
CREATED:20191211T144116Z
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SUMMARY:Séverine TOUSSAERT (University of Oxford) - "Anticipatory utility and stochastic dominance"
DESCRIPTION:\nThe Microeconometrics Seminar: Every Tuesday at 12:15 pm.\nTime: 12:15 pm – 1:30 pm\nDate: 10th of March 2020\nPlace: Room 3001\nSéverine TOUSSAERT (University of Oxford) – “Anticipatory utility and stochastic dominance” \nAbstract: Decision theorists usually take a normative view on stochastic dominance: a DM who chooses lottery that puts more weight on options he likes less must be making a mistake. In this project I argue that stochastic dominance violations may naturally occur in situations where anticipatory utility is high\, such as going on a holiday trip. In such a situation\, the DM may trade the certainty of going to his favorite destination for the excitement of not knowing where he will go. To document this phenomenon\, I conduct an experiment in which participants make a series of binary choices between a sure destination and a lottery over holiday trips. The outcome of the lottery is revealed close to the date of travel. I vary the characteristics of the lotteries to understand when violations of stochastic dominance are most likely to occur and analyze their properties. I discuss implications for the modelling of anticipatory utility. \nOrganizers:\n\nXavier D’HAULTFOEUILLE (Laboratoire de Microéconométrie-CREST)\nBenoît SCHMUTZ (Laboratoire de Microéconométrie-CREST)\nSponsors:\nCREST\n \n\n
URL:https://crest.science/event/severine-toussaert/
CATEGORIES:Applied Seminar,Economics,Microeconometrics,Seminars
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