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Estimating Dynamic Discrete Choice Models with Hyperbolic Discounting, with an Application to Mammography Decisions
Fang, Hanming - 2010
application of adult women's decisions to undertake mammography to evaluate the importance of present bias and naivety in the … under-utilization of this preventive health care. Our results show evidence for both present bias and naivety …
Persistent link: https://www.econbiz.de/10012462218
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Explaining the Favorite-Longshot Bias : Is it Risk-Love or Misperceptions?
Snowberg, Erik - 2010
The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory …
Persistent link: https://www.econbiz.de/10012462728
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On Inferring Demand for Health Care in the Presence of Anchoring, Acquiescence, and Selection Biases
Bhattacharya, Jay - 2008
bidding game to infer willingness to pay. Anchoring bias occurs when the willingness to pay estimate is sensitive to the … initially presented starting value. Acquiescence bias occurs when survey respondents exhibit a tendency to answer 'yes' to … participate, selection bias raises concerns about the representativeness of the sample …
Persistent link: https://www.econbiz.de/10012464782
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Information Favoritism and Scoring Bias in Contests
Deng, Shanglyu; Fang, Hanming; Fu, Qiang; Wu, Zenan - National Bureau of Economic Research - 2023
information is symmetrically distributed and the scoring bias is set to offset the initial asymmetry between players …
Persistent link: https://www.econbiz.de/10014247957
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What Happens in the Field Stays in the Field : Exploring Whether Professionals Play Minimax in Laboratory Experiments
Levitt, Steven D. - 2009
The minimax argument represents game theory in its most elegant form: simple but with stark predictions. Although some of these predictions have been met with reasonable success in the field, experimental data have generally not provided results close to the theoretical predictions. In a...
Persistent link: https://www.econbiz.de/10012463040
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Professionals Do Not Play Minimax : Evidence from Major League Baseball and the National Football League
Kovash, Kenneth - 2009
Game theory makes strong predictions about how individuals should behave in two player, zero sum games. When players follow a mixed strategy, equilibrium payoffs should be equalized across actions, and choices should be serially uncorrelated. Laboratory experiments have generated large and...
Persistent link: https://www.econbiz.de/10012463303
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Experts and Their Records
Frankel, Alexander - 2009
Consider an environment where long-lived experts repeatedly interact with short-lived customers. In periods when an expert is hired, she chooses between providing a profitable major treatment or a less profitable minor treatment. The expert has private information about which treatment best...
Persistent link: https://www.econbiz.de/10012463727
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Ambiguity and Extremism in Elections
Alesina, Alberto F. - 2008
We analyze a model in which voters are uncertain about the policy preferences of candidates. Two forces affect the probability of electoral success: proximity to the median voter and campaign contributions. First, we show how campaign contributions affect elections. Then we show how the...
Persistent link: https://www.econbiz.de/10012464503
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Real Options With Uncertain Maturity and Competition
Miltersen, Kristian R. - 2007
We develop a new approach to dealing with real options problems with uncertain maturity. This type of situation is typical for R&D investments and mine or oil exploration projects. These types of projects are characterized by significant on-going investment costs until completion. Since time to...
Persistent link: https://www.econbiz.de/10012465666
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Discretionary Policy and Multiple Equilibria
King, Robert G. - 2006
Discretionary policymaking can foster strategic complementarities between private sector decisions, thus leading to multiple equilibria. This article studies a simple example, originating with Kydland and Prescott, of a government which must decide whether to build a dam to prevent adverse...
Persistent link: https://www.econbiz.de/10012466593