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When Curiosity Kills the Profits: an Experimental Examination
Jamison, Julian; Karlan, Dean S. - EconWPA - 2005
Economic theory predicts that in a first-price auction with equal and observable valuations, bidders earn zero profits. Theory also predicts that if valuations are not common knowledge, then since it is weakly dominated to bid your valuation, bidders will bid less and earn positive profits....
Persistent link: https://www.econbiz.de/10005125581
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Optimization of Risk Exposure
Gretchikha, Alexei - EconWPA - 2002
Risk exposure can be efficiently optimized in practical situations, using a new apporach to identification of investor …'s risk aversion. …
Persistent link: https://www.econbiz.de/10005134885
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A new integral for capacities
Lehrer, Ehud - EconWPA - 2005
A new integral for capacities, different from the Choquet integral, is introduced and characterized. The main feature of the new integral is concavity, which might be interpreted as uncertainty aversion. The integral is then extended to fuzzy capacities, which assign subjective expected values...
Persistent link: https://www.econbiz.de/10005550967
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The Neural Basis of Financial Risk Taking
Kuhnen, Camelia; Knutson, Brian - EconWPA - 2005
optimal investment strategy of a rational risk- neutral agent as risk-seeking mistakes and risk-aversion mistakes. Nucleus … accumbens activation preceded risky choices as well as risk- seeking mistakes, while anterior insula activation preceded … riskless choices as well as risk-aversion mistakes. These findings suggest that distinct neural circuits linked to anticipatory …
Persistent link: https://www.econbiz.de/10005556666
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Gains and losses: the same or different choices? A “non-ideal” economics approach.
Harin, Alexander - EconWPA - 2005
Ideal economics? A “non-ideal” economics approach has been proposed, which considers the possibility of arrangement infringements. It gives promises for both solving fundamental problems of economic theory and creation of new directions and fields of research. The approach application in...
Persistent link: https://www.econbiz.de/10005124942
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Arrangement Infringement Possibility Approach: Some Economic Features of Large-Scale Events
Harin, Alexander - EconWPA - 2004
investment problems have been formulated. …
Persistent link: https://www.econbiz.de/10005124993
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Simulating a Multiproduct Barter Exchange Economy
Levy, Daniel; Bergen, Mark - EconWPA - 2005
We describe a multiproduct barter trading experiment in which students exchange real goods in an open market based on … their own personal preference. The experiment is designed for simulating a pure exchange market in order to demonstrate the …
Persistent link: https://www.econbiz.de/10005125577
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When punishment fails: Research on sanctions, intentions and non- cooperation
Houser, Daniel; Xiao, Erte; McCabe, Kevin; Smith, Vernon - EconWPA - 2005
environment. Subjects play one-shot investment games in pairs. Investors send an amount to trustees and request a return on this … investment and, in some treatments, are given the option to threaten sanctions to enforce this return request. The decisions of …
Persistent link: https://www.econbiz.de/10005062715
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The excess burden of tax evasion - An experimental detection- concealment contest
Bayer, Ralph C; Sutter, Matthias - EconWPA - 2004
which is imposed in the event of detected tax evasion. Tax evasion is less frequent, though, than a model with risk neutral … taxpayers predicts. We find evidence that this is due to individual moral constraints rather than to risk aversion. …
Persistent link: https://www.econbiz.de/10005062718
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CONSUMER SEARCH: NOT ENOUGH OR TOO MUCH?
Zwick, Rami; Rapoport, Amnon; Lo, Alison King Chung; … - EconWPA - 2001
We study search behavior in a generalized "secretary problem" environment in which consumers search sequentially for the best alternative from a known and finite set of multi-attribute alternatives. In contrast to most previous studies, we make no distributional assumptions about the quality of...
Persistent link: https://www.econbiz.de/10005408222