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Fairness versus Efficiency - An Experimental Study of (Mutual) Gift Giving

Güth, Werner; Kliemt, Hartmut; Ockenfels, Axel - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2002

individual payoffs, is a potentially competing concern in games such as the prisoners' dilemma. In our experiment participants …

Persistent link: https://www.econbiz.de/10005867006

Response Time under Monetary Incentives:the Ultimatum Game

Brañas-Garza, Pablo; León-Mejía, Ana; Miller, Luis M. - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

This paper studies the response times of experimental subjects playingthe Ultimatum game in a laboratory setting using monetary incentives.We find that proposals are not significantly correlated with responsetime, whereas responders’ behavior is positively and significantlycorrelated. Hence,...

Persistent link: https://www.econbiz.de/10005866540

Moral Distance and Moral Motivations in Dictator Games

Aguiar, Fernando; Brañas-Garza, Pablo; Miller, Luis M. - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

We perform an experimenta linvestigation using a dictator game inwhich individuals must make a moral decision —to give or not to give anamount of money to poor people in the Third World. A questionnaire inwhich the subjects are asked about the reasons for their decision showsthat, at least in...

Persistent link: https://www.econbiz.de/10005866577

Personal Identity in the Dictator Game

Aguiar, Fernando; Brañas-Garza, Pablo; Paz Espinosa, Maria - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

function is studied experimentally.The experiment allow us to study the main parametersof the model, suggesting that we should …

Persistent link: https://www.econbiz.de/10005866610

International portfolio choice, liquidity constraints and the home equity bias puzzle

Michaelides, Alexander - London School of Economics (LSE) - 2003

undiversifiable labor income risk. Optimal portfolios are internationally diversified while positive correlation between domestic … with a small amount of buffer stock saving, while exchange rate risk makes foreign investments less appealing to risk …

Persistent link: https://www.econbiz.de/10010928614

Portfolio choice with internal habit formation : a life-cycle model with uninsurable labor income risk

Gomes, Francisco J.; Michaelides, Alexander - London School of Economics (LSE) - 2003

labor income risk and stock-market participation costs. In contrast to the initial motivation, we find that the model is not …

Persistent link: https://www.econbiz.de/10010928771

Asset pricing with limited risk sharing and heterogeneous agents

Gomes, Francisco; Michaelides, Alexander - London School of Economics (LSE) - 2005

simultaneously matching stock market participation and individual asset holdings. The high risk premium is driven by incomplete risk … negligible impact on the risk premium, contrary to the results of models where it is imposed exogenously. …

Persistent link: https://www.econbiz.de/10010744865

Optimal life-cycle asset allocation: understanding the empirical evidence

Gomes, Francisco; Michaelides, Alexander - London School of Economics (LSE) - 2003

We show that a life-cycle model with realistically calibrated uninsurable labor income risk and moderate risk aversion … risk aversion. Households with low risk aversion smooth earnings shocks with a small buffer stock of assets and … consequently most of them (optimally) never invest in equities. Therefore, the marginal stockholders are (endogenously) more risk …

Persistent link: https://www.econbiz.de/10010746160

„Sozial-ökologische Dilemmata und ihreexperimentelle Analyse“

Güth, Werner; Kliemt, Hartmut - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

Die menschliche Art ist eine Spezies, die durch Einsatz von Institutionen undNormensystemen kollektive Güter (oder Übel) bereitzustellen vermag.1 Kollektive Güterbilden typischerweise Antworten auf Kollektivgut-Probleme. Eine besonders wichtige Klassesolcher Kollektivgut-Probleme entsteht im...

Persistent link: https://www.econbiz.de/10005866397

Psychology and Economics rather than Psychology versusEconomics: Cultural differences but no barriers!

Brandstätter, Hermann; Güth, Werner; Kliemt, Hartmut - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

During the last three decades the ascent of behavioral economics clearly helped tobring down artificial disciplinary boundaries between psychology and economics.Noting that behavioral economics seems still under the spell of the rational choicetradition – and, indirectly, of behaviorism – we...

Persistent link: https://www.econbiz.de/10005866402