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Does bounded rationality make paternalism more attractive? This Essay argues that errors will be larger when suppliers have stronger incentives or lower costs of persuasion and when consumers have weaker incentives to learn the truth. These comparative statics suggest that bounded rationality...
Persistent link: https://www.econbiz.de/10012466882
This paper uses laboratory experiments to directly test a central prediction of disclosure theory: that strategic …
Persistent link: https://www.econbiz.de/10012457567
We develop a theory that rationalizes the use of a dominant unit of account in an economy. Agents enter into non …
Persistent link: https://www.econbiz.de/10012459124
We propose a technique for assessing robustness of behavioral measures and treatment effects to experimenter demand effects. The premise is that by deliberately inducing demand in a structured way we can measure its influence and construct plausible bounds on demand-free behavior. We provide...
Persistent link: https://www.econbiz.de/10012455211
decision. We report results from lab experiments focused on such information-collection processes. We consider decisions … decision accuracies over time. Furthermore, groups using majority rule yield especially hasty and inaccurate decisions …
Persistent link: https://www.econbiz.de/10012794585
simple cases, tests confirm that subjects adjust their attention in response to incentives as the theory dictates …
Persistent link: https://www.econbiz.de/10012458788
important features of the data they possess. We conduct a field experiment with seaweed farmers to test a model of "learning …
Persistent link: https://www.econbiz.de/10012460258
-in-the-field experiment to study information sharing through mobile phone messages. Subjects are rural households in Mozambique who have …
Persistent link: https://www.econbiz.de/10012480563
. We use a survey experiment to generate direct evidence on how people acquire and process information, in the context of …
Persistent link: https://www.econbiz.de/10012452954
individual decision maker's thinking process as a thought-experiment that takes time and let the decision maker "think ahead …" about future decision problems in yet unrealized states of nature. By formulating an intertemporal, state …-contingent, planning problem, which may involve costly deliberation in every state of nature, and by letting the decision-maker deliberate …
Persistent link: https://www.econbiz.de/10012466804