Browsing ECO Articles by Author "WILLINGER, Marc"

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Browsing ECO Articles by Author "WILLINGER, Marc"

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    Title: Experimental Evidence on the Irreversibility Effect  Author(s): RAUCHS, Alexandra; WILLINGER, Marc Date: 1996 Type of Publication: Article Abstract: This paper presents the results of an experimental investigation on how increased expected information affects subjects' choices. We show that Claude Henry's (1974) result (the ''Irreversibility Effect'') is strongly ...
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    Title: Experiments on Sequential Decision-Making: the ''Irreversibility Effect''  Author(s): RAUCHS, Alexandra; WILLINGER, Marc Date: 1996 Type of Publication: Article Abstract: The Irreversibility Effect (IE) predicts that an expected utility maximizer who expects to obtain additional information before his future choices, will choose a ''more flexible'' (or ''less irreversible'') position in the ...