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wealths as in expected utility theory). In order to identify the determinants of the income tax evasion decision, a general …
Persistent link: https://www.econbiz.de/10010933897
experiment in which they had to perform a task over fifteen stages grouped in three blocks or levels. In order to continue … through the experiment, a minimum level of success was required at the end of each level. Rewards were dependent on the final …, participants in the loss framing group choose to go further in the experiment. There was also a significant and interesting gender …
Persistent link: https://www.econbiz.de/10010750819
different social and psychological biases that can influence the decision of the individuals in the design of public policies. …
Persistent link: https://www.econbiz.de/10010633780
In an often quoted article, Genesove and Mayer (2001) observe that house sellers are reluctant to sell at a loss, and attribute this finding to loss aversion. I show that loss aversion cannot explain this phenomenon.
Persistent link: https://www.econbiz.de/10010635268
I show that a loss averse consumer who must share her budget between two goods prefer allocations for which consumption equals reference point for at least one good. The phenomenon intensity depends on the curvature of the utility curve. These results are consistent with several stylized facts...
Persistent link: https://www.econbiz.de/10011026068
The classical expected utility model of decision under risk (von Neumann-Morgenstern, 1944) has been criticized from an … Utility model (RDU) model (Quiggin, 1982) attempts to answer some of these criticisms. The decision maker is characterized by … more diversified types of behavior : it is consistent with the behavior revealed by the Allais paradox ; the decision maker …
Persistent link: https://www.econbiz.de/10010738473
under uncertainty is expected to help people take the best decision. However, the widely used expected utility theory values … decision criteria are a combination of expected utility with extreme responses, and seem more consistent with observations. …
Persistent link: https://www.econbiz.de/10009645480
A lot of empirical and behavioral studies underline the idea of a non-flat term structure of subjective interest rates with a decreasing slope. Using an empirical test, this paper aims at identifying in individual behaviors whether agents see their psychological value of time decreasing or not....
Persistent link: https://www.econbiz.de/10008792104
information at the principal's advantage, we test experimentally the principal's willingness to bias (overestimate or under …) principals do bias information, ii) agents trust the cheap-talk messages they receive and adjust their effort accordingly …
Persistent link: https://www.econbiz.de/10008790485
such differences are driven by different attitudes towards competition. In our experiment subjects choose between a …
Persistent link: https://www.econbiz.de/10008790516