Individuals differ in behavior since neither their ethical constraints, their attitudes towards risk, nor their analytical talents are the same. In an experimental prephase we tried to elicit such differences by confronting participants with suitable one-person-decision problems. In the main...

In this paper I consider a complex decision problem where subjects have to cope with a time horizon of uncertain duration and must update their termination probabilities which depend on stochastic events during "life". First I describe how economic theory suggests to solve the decision problem....

Retributive responses do play a role in human behavior. Whether they are primarily triggered by supposed intentions or by observed consequences of actions is an important question. It can be addressed by experimental studies of retributive responses in situations in which the individual actor...

Fairness is a strong concern as shown by the robust results of dictator giving and ultimatum experiments. Efficiency, measured by the sum of individual payoffs, is another potential concern in games such as the prisoners’ dilemma and public good provision games. In our experiment participants...

We examine the robustness of information cascades in laboratory experiments. Apart from the situation in which each player can obtain a signal for free (as in the experiment by Anderson and Holt, 1997, American Economic Review), the case of costly signals is studied where players decide whether...

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 problem. There is evidence that risk attitudes depend on...