The Disjunction Effect and Reason-Based Choice in Games

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Abstract

This paper reports an experiment that extends previous find ings of the disjunction effect, sometimes described as a violation of Savage's sure-thing principle. Evidence of the disjunction ef fect is observed using elicited beliefs about others' actions (rather than controlled beliefs) in a prisoners' dilemma studied by Shafir and Tversky (1992) as well as in an asymmetric version of it and in a nondilemma game with a unique equilibrium. Debiasing tech niques as well as implications for these extensions are discussed.

Original languageEnglish (US)
Pages (from-to)118-133
Number of pages16
JournalOrganizational Behavior and Human Decision Processes
Volume80
Issue number2
DOIs
StatePublished - Nov 1 1999

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