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The Effect of Monetary Feedback and Information Spillovers onCognitive Errors: Evidence from Competitive Markets
Budescu, David V.; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
A vast literature shows that individuals frequently violate normative principles in reasoning. In evaluatingthe relevance of these findings for psychology, economics, and related disciplines, it is natural to askwhether reasoning errors reflect random aberrations or systematic biases. One...
Persistent link: https://www.econbiz.de/10005866768
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Three Very Simple Games and What It Takes to Solve Them
Rydval, Ondřej; Ortmann, Andreas; Ostatnický, Michal - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007
We study the nature of dominance violations in three minimalist dominance-solvable guessing games, featuring two or three players choosing among two or three strategies. We examine how subjects’ reported reasoning translates into their choices and beliefs about others’ choices, and how...
Persistent link: https://www.econbiz.de/10005866530
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Valuing Protection against Low Probability,High Loss Risks: Experimental Evidence
Morone, Andrea; Ozdemir, Ozlem - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
measure,(3)calculates relative risk aversion. The results of the experiment indicate that as theprobability of loss and loss … than to the variation in loss amountswhen they decide whether to buy the protective measure or not: choice decision. Yet …, theopposite is true when they decide the amount of willingness to pay for buying the protectivemeasure: payment decision. In …
Persistent link: https://www.econbiz.de/10005866644
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Individual and Couple Decision Behavior under Risk:The Power of Ultimate Control
de Palma, André; Picard, Nathalie; Ziegelmeyer, Anthony - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
This paper reports results of an experiment designed to analyze the link between riskydecisions made by couples and … decision process that takes place when couples make risky decisions. We find that in mostcouples men have more decision …-making power than women and that women’s decision-makingpower increases when they ultimately implement the joint decisions. …
Persistent link: https://www.econbiz.de/10005866693
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Illusion of control as a source of poor diversification: Anexperimental approach
Fellner, Gerlinde - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
This paper investigates factors influencing individual portfolio allocations withparticular focus on the role of illusion of control. By forming their portfolio of tworisky lotteries and one risk-less alternative, subjects are requested to reach a targetinvestment profit, whereby equal...
Persistent link: https://www.econbiz.de/10005866777
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Do Individuals Recognize Cascade Behavior of Others? - An Experimental study
Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
In a cascade experiment subjects are confronted with artificial predecessors prdecting in line with the BHW model …
Persistent link: https://www.econbiz.de/10005866980
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Does Cascade Behavior Reflect Bayesian Updating? - An Experimental Study
Oberhammer, Clemens; Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
We examine the explanatory power of cascade models by implementing the BDM-mechanism in a simple cascade experiment in … decision errors. Focusing on stated price limits corresponding to urn predictions in line with both, standard and error BHW …
Persistent link: https://www.econbiz.de/10005866982
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Overconfidence in Investment Decisions:An Experimental Approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2001
We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices.Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...
Persistent link: https://www.econbiz.de/10005867326
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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
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Testing the Modigliani-Miller theorem directly in the lab
Levati, Maria Vittoria; Qiu, Jianying; Mahagaonkar, … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2011
) individual decision-making experiment, eliciting severalpoints on individual demand and supply curves for shares, provides some …We present an experiment designed to test the Modigliani-Miller theorem. Applyinga general equilibrium approach and not …
Persistent link: https://www.econbiz.de/10009248887