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information that current underpin current models of risk pooling. A specially designed economic experiment involving 678 subjects … be conducted the networks of risk pooling contracts constructed during the experiment and the networks existing in real …
Persistent link: https://www.econbiz.de/10005118664
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
Peru. In our experiment, subjects revealed their risk preferences with a series of choices between two gambles. We added a …
Persistent link: https://www.econbiz.de/10005125586
We analyze the BBC TV game show "The Weakest Link", using data from 77 episodes, covering 13,380 questions. We focus on the banking decision, where a contestant chooses to secure an amount of money for the eventual winner, or to risk it on a general knowledge question. In the latter case, should...
Persistent link: https://www.econbiz.de/10005125587
We test the effect of players' moods on their behavior in a gift-exchange game. In the first stage of the game, player 1 chooses a transfer to player 2. In the second stage, player 2 chooses an effort level. Higher effort is more costly for player 2, but it increases player 1's payoff. We say...
Persistent link: https://www.econbiz.de/10005062363
Time-consuming and costly religious rituals pose a puzzle for economists committed to rational choice theories of human behavior. We propose that religious rituals promote in-group trust and cooperation that help to overcome collective-action problems. We test this hypothesis on communal...
Persistent link: https://www.econbiz.de/10005062717
The in-group-out-group bias is among the most well documented and widely observed phenomenon in the social sciences. Despite its role in hiring decisions and job discrimination, negotiations, and conflict and competition between groups, economists have heretofore ignored the in- group-out-group...
Persistent link: https://www.econbiz.de/10005062734
The "Weakest Link" is a game show full of paradox. To increase the probability of winning, contestants should eliminate the strongest players. Yet, if it is anticipated that the best player is to be eliminated, participants do not answer questions correctly and nothing is gained. We solve a game...
Persistent link: https://www.econbiz.de/10005556682
We explore the role of reciprocity in wage determination by combining experimental and survey data. The experiment is …
Persistent link: https://www.econbiz.de/10005118755
This paper investigates whether expectations of trustworthiness and resulting acts of trust accord with an objective model of trustworthiness or are biased. Combining experimental and survey data, I find that Ghanaian workers appropriately take account of the religiousness of trustees, but...
Persistent link: https://www.econbiz.de/10005118769