Journal of Economics

, Volume 92, Issue 2, pp 167–196 | Cite as

How Politicians Make Decisions: A Political Choice Experiment



The present paper reports on a political choice experiment with elected real-world politicians. A questionnaire on political and public issues is used to examine whether prospect theory predicts the responses of experts from the field better than rational choice theory. The results indicate that framing effects do not disappear with expertise.


subject pool effect subject surrogacy expected utility theory prospect theory 

JEL Classifications

C91 D72 D81 


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Copyright information

© Springer 2007

Authors and Affiliations

  • Enrique Fatas
    • 1
  • Tibor Neugebauer
    • 2
  • Pilar Tamborero
    • 3
  1. 1.LINEEXUniversity of ValenciaValenciaSpain
  2. 2.School of Economics and ManagementHannover Leibniz UniversityHannoverGermany
  3. 3.Department of Applied EconomicsUniversity of ValenciaValenciaSpain

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