Testing for Salience Effects in Choices under Risk
通过实验检验显著性理论在风险选择中的基本效应，发现提高相对收益对比1%相当于增加约0.4%的胜算比，结果支持连续版显著性理论。
Abstract We construct and run an experiment to test the most basic choice effect predicted by salience theory. Subjects allocate wealth between a risky and a safe investment. While we vary an apparent payoff ratio to influence salience, treatments have economically equivalent consequences. Most other theories of behavior then predict zero effect. Our experimental findings are strongly consistent with the behavioral implication of a continuous version of salience theory. We provide a novel structural estimate on the strength of salience. In our setting, increasing the relative payoff contrast by 1% is equivalent to an increased odds ratio by about 0.4%.