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approach for countable domains and combining this with basic measure theory, we obtain necessary and sufficient conditions for … the existence of upper semi-continuous utility functions on a wide class of domains. Although links between utility theory … and measure theory have been pointed out before, to the best of our knowledge this is the first time that the present …
Persistent link: https://www.econbiz.de/10008793424
)-expected utility theory. When individual preference satisfies a given invariance property, his utility function is solution of a …
Persistent link: https://www.econbiz.de/10008793988
We investigate the extent to which price deviations from fundamental values in an experimental asset market are due to the uncertainty of subjects regarding others' rationality. We do so by comparing the price forecasts submitted by subjects in two market environments: (a) all six traders are...
Persistent link: https://www.econbiz.de/10010933826
To what extent is the observed mis-pricing in experimental asset markets caused by strategic uncertainty (SU) and by individual bounded rationality (IBR)? We address this question by comparing subjects initial price forecasts in two market environments - one with six human traders, and the other...
Persistent link: https://www.econbiz.de/10010933940
We provide experimental evidence of workers' ingratiation by opinion conformity and of managers' discrimination in favor of workers with whom they share similar opinions. In our Baseline, managers can observe both workers' performance at a task and opinions before assigning unequal payoffs. In...
Persistent link: https://www.econbiz.de/10010929091
Vaccination campaigns to prevent the spread of epidemics are successful only if the targeted populations subscribe to the recommendations of health authorities. However, because compulsory vaccination is hardly conceivable in modern democracies, governments need to convince their populations...
Persistent link: https://www.econbiz.de/10010930176
-image concerns (when everybody sees everyone else). A laboratory experiment is designed to identify separately these concerns, using …
Persistent link: https://www.econbiz.de/10010930214
-stage public good experiment with endogenous timing. We show that leading by making generous contributions is widespread and …
Persistent link: https://www.econbiz.de/10010541081
We devise an experiment to explore the effect of different degrees of bargaining power on the design and the selection …
Persistent link: https://www.econbiz.de/10009220690
paper reports the results of a real-effort experiment in which participants choose between an individual compensation scheme …
Persistent link: https://www.econbiz.de/10009325706