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Measuring Social Norms and Preferences using Experimental Games: A Guide for Social Scientists
Camerer, Colin F.; Fehr, Ernst - Institut für Volkswirtschaftslehre, …
Experimental games turned out to be remarkably productive tools for examining the nature of social preferences and social norms. This paper describes the methods and tools of experimental game theory and provides a selection of games that have been useful. We also discuss the role of...
Persistent link: https://www.econbiz.de/10005585655
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Liquidity, innovation and growth
Berentsen, Aleksander; Rojas Breu, Mariana; Shi, Shouyong - Institut für Volkswirtschaftslehre, … - 2009
Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this paper, we integrate a microfounded model of money and finance into a model of endogenous growth to examine the effects of inflation on welfare, growth and the size of the...
Persistent link: https://www.econbiz.de/10008528451
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Money, Credit and Banking
Berentsen, Aleksander; Camera, Gabriele; Waller, Christopher - Institut für Volkswirtschaftslehre, …
that increasing the rate of inflation can be welfare improving when credit rationing occurs. …
Persistent link: https://www.econbiz.de/10005627993
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Higher bank capital requirements and mortgage pricing: evidence from the Counter-Cyclical Capital Buffer
Koch, Catherine Tahmee; Basten, Christoph - Institut für Volkswirtschaftslehre, … - 2014
We examine mortgage pricing before and after Switzerland was the first country to activate the Counter-Cyclical Capital … Buffer of Basel III. Observing multiple mortgage offers per request, we obtain three core findings. First, capitalconstrained … and mortgage-specialized banks raise their rates relatively more. Second, risk-weighting schemes supposed to discriminate …
Persistent link: https://www.econbiz.de/10010817283
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Evidence for countercyclical risk aversion: an experiment with financial professionals
Cohn, Alain; Engelmann, Jan; Fehr, Ernst; Maréchal, … - Institut für Volkswirtschaftslehre, … - 2013
A key ingredient of many popular asset pricing models is that investors exhibit countercyclical risk aversion, which helps explain major economic puzzles such as the strong and systematic variation in risk premiums over time and the high volatility of asset prices. There is, however,...
Persistent link: https://www.econbiz.de/10011240398
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Generosity across contexts
Weber, Roberto A.; Davis, Alexander L.; Jehli, Nadja R.; … - Institut für Volkswirtschaftslehre, … - 2011
Extensive research in economics explores generosity in monetary allocations. However, generosity often involves the allocation of non-monetary goods or experiences. Existing evidence suggests that generosity may be higher in such contexts, though no direct comparison exists. Here, we compare...
Persistent link: https://www.econbiz.de/10011203012
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Reverse Common Ratio Effect
Blavatskyy, Pavlo R. - Institut für Volkswirtschaftslehre, … - 2010
The results of a new experimental study reveal highly systematic violations of expected utility theory. The pattern of these violations is exactly the opposite of the classical common ratio effect discovered by Allais (1953). Two recent decision theories— stochastic expected utility theory...
Persistent link: https://www.econbiz.de/10008625739
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Pre-Play communication with forgone costly messages: experimental evidence on forward induction
Blume, Andreas; Weber, Roberto A.; Kriss, Peter H. - Institut für Volkswirtschaftslehre, … - 2011
-play messages. In a laboratory experiment, we modify communication by making the sending of messages optional and costly. Even small …
Persistent link: https://www.econbiz.de/10009358877
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How do informal agreements and renegotiation shape contractual reference points?
Fehr, Ernst; Hart, Oliver; Zehnder, Christian - Institut für Volkswirtschaftslehre, … - 2011
Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)’s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and ex post...
Persistent link: https://www.econbiz.de/10009358972
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How do judgmental overconfidence and overoptimism shape innovative activity?
Herz, Holger; Schunk, Daniel; Zehnder, Christian - Institut für Volkswirtschaftslehre, … - 2013
Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue that the connection between overconfidence and innovation is more complex than the previous literature suggests. In particular, we show theoretically and experimentally that...
Persistent link: https://www.econbiz.de/10010817242