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Strategies, heuristics and the relevance of risk aversion in a dynamic decision problem
Müller, Wieland - 1999
In this paper I consider a complex decision problem where subjects have to cope with a time horizon of uncertain … economic theory suggests to solve the decision problem. But since real decision makers can hardly be expected to behave …
Persistent link: https://www.econbiz.de/10009581111
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Dynamic decision structure and risk taking
Eichberger, Jürgen; Güth, Werner; Müller, Wieland - 1999
This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show … low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision … behaviour ; decision-making experiments …
Persistent link: https://www.econbiz.de/10009582412
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Strategic delegation in experimental markets
Huck, Steffen; Müller, Wieland; Normann, Hans-Theo - 2000
contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits … only rarely chosen in the experimental markets. This behavior is rational given that managers do not play according to the …
Persistent link: https://www.econbiz.de/10009583883
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Incentive Effects on Risk Attitude in Small Probability Prospects
Lefebvre, Mathieu; Vieider, Ferdinand; Villeval, … - HAL - 2009
Most studies on the role of incentives on risk attitude report data obtained from within-subject experimental investigations. This may however raise an issue of sequentiality of effects as later choices may be influenced by earlier ones. This paper reports instead between-subject results on the...
Persistent link: https://www.econbiz.de/10008791266
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Incentive Effects on Risk Attitude in Small Probability Prospects
Lefebvre, Mathieu; Vieider, Ferdinand; Villeval, Marie … - HAL - 2010
Most studies on the role of incentives on risk attitude report data obtained from within-subject experimental investigations. This may however raise an issue of sequentiality of effects as later choices may be influenced by earlier ones. This paper reports instead between-subject results on the...
Persistent link: https://www.econbiz.de/10008791715