The Achilles’ heel of Salience theory and a way to fix it

Bakó, Barna and Neszveda, Gábor (2020) The Achilles’ heel of Salience theory and a way to fix it. Economics Letters, 193 . DOI

PDF - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader

Official URL:

A nyílt hozzáférést az EISZ és a kiadó között létrejött "Read and Publish" szerződés biztosította. Open access was provided "Read and Publish" contract between EIS and the publisher.


Salience theory has been successfully used to explain a wide range of empirical and experimental phenomena such as the Allais paradox, framing effect, the preference reversal phenomenon or the decoy and compromise effects. In this paper we show that salience theory carries a notable flaw and under certain circumstances it suggests that a salient thinker may prefer a dominated option even when a strictly dominant alternative is available to her. To solve this problem we propose a possible alteration of the theory and show how it accounts for the same phenomena as the salience theory.

Item Type:Article
Uncontrolled Keywords:salience theory, context dependent choice, Allais paradox, preference reversal, decoy and compromise effects
ID Code:6115
Deposited By: Veronika Vitéz
Deposited On:27 Nov 2020 14:44
Last Modified:27 Nov 2020 14:44

Repository Staff Only: item control page


Downloads per month over past year

View more statistics