Conflicting evidence and decisions by agency professionals: An experimental test in the context of merger regulation

Lyons, B; Menzies, GD; Zizzo, DJ

Conflicting evidence and decisions by agency professionals: An experimental test in the context of merger regulation

Lyons, B Menzies, GD

Zizzo, DJ

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Publication Type:: Journal Article
Citation:: Theory and Decision, 2012, 73 (3), pp. 465 - 499
Issue Date:: 2012-09-01

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Field	Value	Language
dc.contributor.author	Lyons, B	en_US
dc.contributor.author	Menzies, GD https://orcid.org/0000-0003-4133-2282	en_US
dc.contributor.author	Zizzo, DJ	en_US
dc.date.issued	2012-09-01	en_US
dc.identifier.citation	Theory and Decision, 2012, 73 (3), pp. 465 - 499	en_US
dc.identifier.issn	0040-5833	en_US
dc.identifier.uri	http://hdl.handle.net/10453/18813
dc.description.abstract	Many important regulatory decisions are taken by professionals employing limited and conflicting evidence.We conduct an experiment in amerger regulation setting, identifying the role of different standards of proof, volumes of evidence, cost of error and professional or lay decision making. The experiment was conducted on current practitioners from 11 different jurisdictions, in addition to student subjects. Legal standards of proof significantly affect decisions. There are specific differences because of professional judgment, including in how error costs and volume of evidence are taken into account.We narrowthe range of explanations forwhy professional decision making matters. © Springer Science+Business Media, LLC. 2011.	en_US
dc.relation.ispartof	Theory and Decision	en_US
dc.relation.isbasedon	10.1007/s11238-011-9258-3	en_US
dc.subject.classification	Economic Theory	en_US
dc.title	Conflicting evidence and decisions by agency professionals: An experimental test in the context of merger regulation	en_US
dc.type	Journal Article
utslib.citation.volume	3	en_US
utslib.citation.volume	73	en_US
utslib.for	1401 Economic Theory	en_US
utslib.for	14 Economics	en_US
utslib.for	17 Psychology and Cognitive Sciences	en_US
utslib.for	22 Philosophy and Religious Studies	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Economics Discipline
utslib.copyright.status	closed_access
pubs.issue	3	en_US
pubs.publication-status	Published	en_US
pubs.volume	73	en_US

Abstract:

Many important regulatory decisions are taken by professionals employing limited and conflicting evidence.We conduct an experiment in amerger regulation setting, identifying the role of different standards of proof, volumes of evidence, cost of error and professional or lay decision making. The experiment was conducted on current practitioners from 11 different jurisdictions, in addition to student subjects. Legal standards of proof significantly affect decisions. There are specific differences because of professional judgment, including in how error costs and volume of evidence are taken into account.We narrowthe range of explanations forwhy professional decision making matters. © Springer Science+Business Media, LLC. 2011.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/18813