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Brandts, Jordi; Charness, Gary - Department of Economics and Business, Universitat … - 1999

substantially increases the punishment rate as a response to an action that is unfavorable to the receiver. We also find that a …

Persistent link: https://www.econbiz.de/10005772519

Ambiguity seeking as a result of the status quo bias

Roca, Mercè; Hogarth, Robin; Maule, A. John - Department of Economics and Business, Universitat … - 2005

Several factors affect attitudes toward ambiguity. What happens, however, when people are asked to exchange an ambiguous alternative in their possession for an unambiguous one? We present three experiments in which individuals preferred to retain the former. This status quo bias emerged both...

Persistent link: https://www.econbiz.de/10005704847

Reputation and honesty in a market for information

Charness, Gary; Garoupa, Nuno - Department of Economics and Business, Universitat … - 1998

Previous works on asymmetric information in asset markets tend to focus on the potential gains in the asset market itself. We focus on the market for information and conduct an experimental study to explore, in a game of finite but uncertain duration, whether reputation can be an effective...

Persistent link: https://www.econbiz.de/10005772009

The role of role uncertainty in modified dictator games

Iriberri, Nagore; Rey-Biel, Pedro - Department of Economics and Business, Universitat … - 2008

We compare behavior in modified dictator games with and without role uncertainty. Subjects choose between a selfish action, a costly surplus creating action (altruistic behavior) and a costly surplus destroying action (spiteful behavior). While costly surplus creating actions are the most...

Persistent link: https://www.econbiz.de/10005012906

When "hope springs eternal": The role of chance in risk taking

Karelaia, Natalia; Hogarth, Robin - Department of Economics and Business, Universitat … - 2008

the former who start taking more risk, while the latter maintain a belief that high levels of skill are sufficient to …

Persistent link: https://www.econbiz.de/10005029662

Social value orientation as a moral intuition: Decision-making in the dictator game

Cornelissen, Gert; Dewitte, Siegfried; Warlop, Luk - Department of Economics and Business, Universitat … - 2007

We studied the decision making process in the Dictator Game and showed that decisions are the result of a two-step process. In a first step, decision makers generate an automatic, intuitive proposal. Given sufficient motivation and cognitive resources, they adjust this in a second, more...

Persistent link: https://www.econbiz.de/10005572592

Reflections on gains and losses: A 2x2x7 experiment

Bosch-Domènech, Antoni; Silvestre, Joaquim - Department of Economics and Business, Universitat … - 2002

We test whether risk attitudes change when losses instead of gains are involved. The study of gain-loss asymmetries has … translation effect (risk attraction becomes more frequent when gains are translated into losses) and a probability switch effect … (risk attraction becomes more frequent when the probability of the best outcome decreases). Surprisingly, the switch effect …

Persistent link: https://www.econbiz.de/10005572639

Risk aversion and embedding bias

Bosch-Domènech, Antoni; Silvestre, Joaquim - Department of Economics and Business, Universitat … - 2006

In Selten (1967) “Strategy Method,” the second mover in the game submits a complete strategy. This basic idea has been exported to nonstrategic experiments, where a participant reports a complete list of contingent decisions, one for each situation or state in a given sequence, out of which...

Persistent link: https://www.econbiz.de/10005771971

Averting risk in the face of large losses: Bernoulli vs. Tversky and Kahneman

Bosch-Domènech, Antoni; Silvestre, Joaquim - Department of Economics and Business, Universitat … - 2006

We experimentally question the assertion of Prospect Theory that people display risk attraction in choices involving … attitude, But, contrary to the Bernoulli-inspired canonical expected utility theory, we do find frequent risk attraction for … experiments with real (not hypothetical) loses. Our results vindicate Daniel Bernoulli’s view that risk aversion is the dominant …

Persistent link: https://www.econbiz.de/10005771992

An experimental test of loss aversion and scale compatibility

Bleichrodt, Han; Pinto, José Luis - Department of Economics and Business, Universitat … - 2000

This paper studies two important reasons why people violate procedure invariance, loss aversion and scale compatibility. The paper extends previous research on loss aversion and scale compatibility by studying loss aversion and scale compatibility simultaneously, by looking at a new decision...

Persistent link: https://www.econbiz.de/10005772150