ICES Occasional Brown Bag for June 20

Events, Seminars | June 15, 2012

Join us for an ICES Occasional Brown Bag Lecture featuring Chew Soo Hong.

Professor Chew, of the National University of Singapore, will discuss Source Preference: Theory and Evidence from Choice Experiments Incorporating Neuroimaging and Molecular Genetics (see abstract below). The talk will take place on Wednesday, June 20th, from 4:00 to 5:00pm, in room 400-R of the Truland Building, Arlington campus. Visit the Brown Bag Schedule for a copy of the readings.

Coffee and snacks will be provided.

If you plan to attend, please RSVP with Stan Tsirulnikov.

People exhibit source preference when they are not indifferent among identically distributed risks arising from different sources of uncertainty. Modeling source preference requires a weakening of the usual completeness property in the comparative likelihood relation resulting in a more limited form of probabilistic sophistication over smaller families of events. Source preference encompasses a range of decision making ‘anomalies’ including ambiguity aversion and familiarity bias, and can be related to market level phenomena such as the observed affinity for risk taking in racetracks and casinos and the home bias puzzle in financial markets. Incorporating neuroimaging and molecular genetics into laboratory tests for source preference enables a deeper understanding of decision making behaviour beyond revealed choice to the level of gene, brain, and the subconscious.

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