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The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous experiments. We attempt to explain this effect by showing that evolution favors individuals whose...
Persistent link: https://www.econbiz.de/10009657123
report on the results of a controlled experiment with real objects at stake. Worry was measured with the Worry Domains …
Persistent link: https://www.econbiz.de/10009621419
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 …
Persistent link: https://www.econbiz.de/10009582412
Appraisals are needed for decision-making and for performance evaluation. Knowledge on the accuracy of valuation …
Persistent link: https://www.econbiz.de/10009625798
Persistent link: https://www.econbiz.de/10001919333
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 … part of the paper I discuss how much of the data can be explained by assuming that experimental subjects are risk averse. …
Persistent link: https://www.econbiz.de/10009581111
their life expectancy when comparing present and future needs and resources for satisfying them. The experimental design …-mindedness are reported. -- experimental economics ; personality ; intertemporal consumption and saving ; individual differences …
Persistent link: https://www.econbiz.de/10009578010
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
For the Euro 2000 Soccer Championships an experimental asset market was condueted, with traders buying and selling …. Moreover, the more certain the market predicts the outcome of an event the more accurate is the prediction. -- experimental …
Persistent link: https://www.econbiz.de/10009621415
This article investigates whether decision makers intuitively optimize close to the normative prediction in … entrepreneurial decision situations where their time must be allocated between a wage job and a newly formed venture. We offer an … experiment where respondents have to detect corner solutions, that is, they should allocate to the venture either the maximum or …
Persistent link: https://www.econbiz.de/10009621420