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Framing effects on asset markets : an experimental analysis

Kirchler, Erich; Maciejovsky, Boris; Weber, Martin - 2001

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 the correspondence of different experimental risk...

Persistent link: https://www.econbiz.de/10009613618

Mental accounting and the impact of tax penalty and audit frequency on the declaration of income : an experimental analysis

Maciejovsky, Boris; Kirchler, Erich; Schwarzenberger, … - 2001

We investigate (i) whether traders on an experimental asset market form different and separate mental accounts for sale revenues and for dividend earnings and whether (ii) an increase in tax penalty or (iii) an increase in audit frequency increases tax compliance. The results indicate that...

Persistent link: https://www.econbiz.de/10009613619

Simultaneous over- and underconfidence : evidence from experimental asset markets

Maciejovsky, Boris; Kirchler, Erich - 2001

In this paper individual overconfidence within the context of an experimental asset market is investigated. Overall, 72 participants traded one risky asset on six markets of 12 participants each. The results indicate that individuals were not generally overconfident. Moreover, overconfidence was...

Persistent link: https://www.econbiz.de/10009614297

Combining rational choice and evolutionary dynamics : the indirect evolutionary approach

Königstein, Manfred; Müller, Wieland - 1999

In this study we propose a formal framework for the indirect evolutionary approach as initiated by Güth and Yaari (1992). It allows to endogenize preferences and to study their evolution. We define two-player indirect evolutionary games with observable types and show how to incorporate...

Persistent link: https://www.econbiz.de/10009580475

On the regulation of social norms

Kübler, Dorothea - 2000

A model is developed to understand how norms can be influenced by "norm entrepreneurs", e.g. lawmakers, government agencies, unions etc. Two instruments of influencing the dynamics of normfollowing behavior are analyzed, namely transforming the (monetary) incentives and changing the meaning or...

Persistent link: https://www.econbiz.de/10009583884

From full to bounded rationality : the limits of unlimited rationality

Güth, Werner; Kliemt, Hartmut - 2001

choice making. We illustrate why this role is not being fulfilled well by standard models of full rationality and that … theories of bounded rationality are needed not only for better predictions, but also for developing better advice. Our main … point is that one cannot succeed here without studying how theories of bounded rationality causally influence the behavior …

Persistent link: https://www.econbiz.de/10009612562

The relevance of equal splits : on a behavioral discontinuity in ultimatum games

Güth, Werner; Huck, Steffen; Müller, Wieland - 1998

The findings on the ultimatum game are considered as belonging to the most robust experimental results. In this paper we present a slightly altered version of the mini ultimatum game of Bolton and Zwick (1995). Whereas in the latter exactly equal splits were feasible in our games these were...

Persistent link: https://www.econbiz.de/10009574884

Maximization of empirical Shannon information in testing significant variables of linear model

Malyutov, M.; Sadaka, H. - 1998

Search for an unknown set A,Card(A) = s, of significant variables of a linear model with random IID discrete binary carriers and finitely supported IID noise is studied. Two statistics T1, Ts, based on maximization of Shannon Information (SI) of the corresponding classes of joint empirical...

Persistent link: https://www.econbiz.de/10009574888

A psychological approach to individual differences in intertemporal consumption patterns

Brandstätter, Hermann; Güth, Werner - 1998

When people decide about saving and consumption across the various periods of their life time they take into account their life expectancy when comparing present and future needs and resources for satisfying them. The experimental design, applied at two sites (Humboldt-University at Berlin and...

Persistent link: https://www.econbiz.de/10009578010

Presents or investments? : an experimental analysis

Genîzî, Ûrî; Güth, Werner; Verboven, Frank - 1998

design an experiment to study whether such commodity transfers can be viewed as investments based on trust and reciprocity …, or whether they rather resemble presents with distributional intentions. Our experiment essentially modifies Berg et al …

Persistent link: https://www.econbiz.de/10009578011