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Impatience, Anticipatory Feelings and Uncertainty:A Dynamic Experiment on Time Preferences

Casari, Marco; Dragone, Davide - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2010

We study time preferences in a real-effort experiment with a one-month horizon. We report thattwo thirds of choices …

Persistent link: https://www.econbiz.de/10009248914

Competition on Common Value Markets with Naive Traders– A Theoretical and Experimental Analysis

Chlaß, Nadine; Güth, Werner - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

Theoretically and experimentally, we generalize the analysis of acquiringa company (Samuelson and Bazerman 1985) by allowing for competition ofboth, buyers and sellers. Naivety of both is related to the idea that higherprices exclude worse qualities. While competition of naive buyers...

Persistent link: https://www.econbiz.de/10005866465

A Tool for Electronic Instructions in Laboratory Experiments

Schmelz, Katrin - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2011

E-nstructions facilitates the use of electronic instructions in computerized laboratory ex-periments in social sciences. In this article I provide a set of guidelines for the installationand the use of E-nstructions.

Persistent link: https://www.econbiz.de/10009248895

A sociological perspective on measuring social norms bymeans of strategy method experiments

Rauhut, Heiko; Winter, Fabian - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

bargaining norms in the case of ultimatum games. Tosubstantiate our claim, we conduct a methodological experiment in which …

Persistent link: https://www.econbiz.de/10005866393

Relating the two Dimensions of Risk Attitudes: AnExperimental Analysis

Qiu, Jianying; Steiger, Eva-Marie - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

In the framework of expected utility theory, risk attitudes are entirely capturedby the curvature of the utility … thismodication, one question arises naturally: since both utility and probability weight-ing determine the attitude towards risk …, what is the relation between them? Weran a controlled laboratory experiment to answer this question. Our ndings suggestthat …

Persistent link: https://www.econbiz.de/10005866427

Uncertainty effect revisited using physical lottery format

Rydval, Ondřej; Ortmann, Andreas; Prokosheva, Sasha; … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so called uncertainty effect, namely that people value a binary lottery over non-monetary outcomes less than other people value the lottery’s worse outcome. Unlike the authors who implement a verbal...

Persistent link: https://www.econbiz.de/10005866429

Downsizing the Labor Force by Low and High Profit Firms– An Experimental Analysis

Güth, Werner; Paul, Christian - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

One may hope to capture the behavioral and emotional eects of downsizingthe labor force in rather abstract settings as an ultimatum game (see Fischeret al. (2008)), or try to explore downsizing in its more natural principalagentscenario with a labor market background. We pursue the latter...

Persistent link: https://www.econbiz.de/10005866438

Testing the Modigliani-Miller theorem directly in the lab:a general equilibrium approach

Mahagaonkar, Prashanth; Qiu, Jianying - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

In this paper, we experimentally test the Modigliani-Miller theorem. Applying ageneral equilibrium approach and not allowing for arbitrage among ¯rms with differ-ent capital structure, we are able to address a question fundamental to the valuationof firms: does capital structure affect the...

Persistent link: https://www.econbiz.de/10005866450

Effects of Profitable Downsizing on Collective Bargaining

Fischer, Sven; Güth, Werner; Köhler, Christoph - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

We experimentally test how acceptance thresholds react to the decisionof the proposer in a three party ultimatum game to exclude oneof two responders with veto power from the game. We elicit responderacceptance thresholds in case the proposer decides to exclude one ofthem, what increases the...

Persistent link: https://www.econbiz.de/10005866458

(Non-) Behavioral Economics – A Programmatic Assessment

Güth, Werner - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

Economic theory has evolved without paying proper attention to behavioral approaches,especially to social, economic, and cognitive psychology. This has recently changed byincluding behavioral economics courses in many doctoral study programs. Although thisnew development is most welcome, the...

Persistent link: https://www.econbiz.de/10005866470