In Colada[124] I summarized a co-authored critique (with Banki, Walatka and Wu) of a recent AER paper that proposed risk preferences reflect 'complexity' rather than preferences a-la Prospect Theory. Ryan Oprea, the AER author, has written a rejoinder (.pdf). Its first main point (pages 5-12), is that our results with medians are 'knife edge' (p.8),... The post [125] "Complexity" 2: Don't be mean to the median appeared first on Data Colada.
