Deriving advice that can in fact be utilized by boundedly rational decision makers is a central function of modeling … of boundedly rational individuals. In view of such a causal role of theories we discuss how advice of a theory of …

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 …

The general framework of decision emergence (Güth, 2000a) is applied to the specific decision task of a proposer in …. This illustrates the applicability of the general framework of boundedly rational decision emergence. …

Robust learning experiments confront participants with structurally different decision environments which they … encounter, furthermore, repeatedly. Since the decision format does not depend on the rules (of game), forward looking …

In this paper we investigate four hypotheses which are inconsistent with expected utility theory, but may well be … explained by prospect theory. It deals with framing, the non-linearity of subjective probabilities, the disposition effect, and …) found little correspondence between different experimental risk elicitation methods. -- Prospect Theory ; Framing …

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