(1993) and Im, Pesaran and Shin (1997) suggest bias adjusted t-statistics. Such corrections are necessary to account for the … affected by two different terms. The first term represents the asymptotic effect on the bias due the detrending method and the … do not require a bias correction. The results of a Monte Carlo experiment suggest that avoiding the bias can improve the …

In this paper I consider a complex decision problem where subjects have to cope with a time horizon of uncertain … economic theory suggests to solve the decision problem. But since real decision makers can hardly be expected to behave …

This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show … low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision … behaviour ; decision-making experiments …

derive the asymptotic distribution of the DEA estimator, which enables us to assess the asymptotic bias and hence to propose … an improved bias corrected estimator. This bias corrected estimator involves consistent estimation of the density … confidence intervals. The finite sample performance of the bias corrected estimator is investigated via a simulation study and …