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Biased Probability Judgment: Evidence of Incidence and Relationship to Economic Outcomes from a Representative Sample
Dohmen, Thomas; Falk, Armin; Huffman, David; Marklein, Felix - Institute for the Study of Labor (IZA) - 2009
Many economic decisions involve a substantial amount of uncertainty, and therefore crucially depend on how individuals process probabilistic information. In this paper, we investigate the capability for probability judgment in a representative sample of the German population. Our results show...
Persistent link: https://www.econbiz.de/10004999933
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Strategic Sophistication of Individuals and Teams in Experimental Normal-Form Games
Sutter, Matthias; Czermak, Simon; Feri, Francesco - Institute for the Study of Labor (IZA) - 2010
We present an experiment on strategic thinking and behavior of individuals and teams in one-shot normal-form games …
Persistent link: https://www.econbiz.de/10008480923
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Are Teams Less Inequality Averse than Individuals?
He, Haoran; Villeval, Marie Claire - Institute for the Study of Labor (IZA) - 2014
designs, and we investigate how teams aggregate individual preferences. We find that team decisions reveal less inequality … aversion than individual initial proposals in team decision-making. However, teams are no more selfish than individuals who … decide in isolation. Individuals express strategically more inequality aversion in their initial proposals in team decision …
Persistent link: https://www.econbiz.de/10010884177
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Lying and Team Incentives
Conrads, Julian; Irlenbusch, Bernd; Rilke, Rainer Michael; … - Institute for the Study of Labor (IZA) - 2011
We investigate the influence of two widespread compensation schemes, individual piece-rates and team incentives, on … pronounced under team incentives than under individual piece-rates, which highlights a so far fairly neglected feature of these …
Persistent link: https://www.econbiz.de/10009294841
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Transparency, Inequity Aversion, and the Dynamics of Peer Pressure in Teams: Theory and Evidence
Mohnen, Alwine; Pokorny, Kathrin; Sliwka, Dirk - Institute for the Study of Labor (IZA) - 2008
confirmed in a real effort experiment. …
Persistent link: https://www.econbiz.de/10005762201
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Why Do People Pay for Useless Advice? Implications of Gambler's and Hot-Hand Fallacies in False-Expert Setting
Powdthavee, Nattavudh; Riyanto, Yohanes E. - Institute for the Study of Labor (IZA) - 2012
We investigated experimentally whether people can be induced to believe in a non-existent expert, and subsequently pay for what can only be described as transparently useless advice about future chance events. Consistent with the theoretical predictions made by Rabin (2002) and Rabin and Vayanos...
Persistent link: https://www.econbiz.de/10011279343
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Market vs. Residence Principle: Experimental Evidence on the Effects of a Financial Transaction Tax
Huber, Jürgen; Kirchler, Michael; Kleinlercher, Daniel; … - Institute for the Study of Labor (IZA) - 2014
While politically attractive in order to generate tax revenues, the effects of a financial transaction tax (FTT) are scientifically disputed, not the least because seemingly small details of its implementation may matter a lot. In this paper, we provide experimental evidence on the different...
Persistent link: https://www.econbiz.de/10011086480
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Two Heads Are Less Bubbly than One: Team Decision-Making in an Experimental Asset Market
Cheung, Stephen L.; Palan, Stefan - Institute for the Study of Labor (IZA) - 2009
We study the effect of team decision-making on bubbles and crashes in experimental asset markets of the kind introduced … volume and price volatility. We also find an unexpected gender effect in team composition, manifesting itself in more extreme …
Persistent link: https://www.econbiz.de/10008555360
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Savings and Prize-Linked Savings Accounts
Atalay, Kadir; Bakhtiar, Fayzan; Cheung, Stephen L.; … - Institute for the Study of Labor (IZA) - 2012
-risk households. Results from an online experiment show that the introduction of PLS accounts increase total savings and reduce …
Persistent link: https://www.econbiz.de/10010959657
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The Effect of Communication Channels on Promise-Making and Promise-Keeping
Conrads, Julian; Reggiani, Tommaso - Institute for the Study of Labor (IZA) - 2014
This paper investigates the effect of different communication channels on promise-making and promise-keeping in a helping situation. Four treatments differ with respect to the communication channel employed to solicit unincentivized cooperation, i.e., face-to-face, phone call and two different...
Persistent link: https://www.econbiz.de/10010959794