Showing 1 - 10 of 11
This paper introduces a new theoretic entity, a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are incompatible with expected utility theory which excludes...
Persistent link: https://www.econbiz.de/10004964146
The prior paper in this sequel, Pope (2009) introduced the concept of a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. In this paper the concept is used to show three things in how scientists and practitioners analyse and evaluate to decide (conclude). First,...
Persistent link: https://www.econbiz.de/10004964148
Economists invoke Mundell (1961) in arguing for the general policy of   a flexible exchange rate regime as a means of restoring equilibria   after shocks. But there is a discrepancy between the intent of the   general policy and attempts at its implementation as identified by  ...
Persistent link: https://www.econbiz.de/10005001491
laboratory experiment that incorporates more aspects of real world complexity and more different sorts of official and private …
Persistent link: https://www.econbiz.de/10008457976
Our experiment investigates managers’ self-predictions of their subsequent performance and, based upon, their choice of …
Persistent link: https://www.econbiz.de/10004989607
Leniency clauses, offering cartelists legal immunity if they blow the whistle on each other, is a recent anti-trust innovation. The authorities wish to thwart cartels and promote competition. This effect is not evident, however; whistle-blowing may enforce trust and collusion by providing a tool...
Persistent link: https://www.econbiz.de/10004989614
Opinion is divided on whether it is better to have a single world   money or variable exchange rates.  Pope, Selten and von Hagen (2003)   propose that fresh light would be shed via an analysis that allows   for seven complexity impacts on the exchange rate that are   underplayed...
Persistent link: https://www.econbiz.de/10004968330
This paper experimentally explores group decision-making in a two-player power-to-take game. Discussions preceding group decisions are video taped and analyzed. Each subject first earns an income in an individual effort task preceding the game. The game consists of two stages. First, one group...
Persistent link: https://www.econbiz.de/10004968336
laboratory experiment.  The laboratory   experiment avoids measurement errors to which econometric estimation   is subject … experiment also   embeds a new theory of exchange rate determination involving the   uncontroversial power of fully cooperating …
Persistent link: https://www.econbiz.de/10004968391
Myopic loss aversion (MLA) has been established as one prominent explanation for the equity premium puzzle. In this paper we address two issues related to the effects of MLA on risky investment decisions. First, we assess the relative impact of feedback frequency and investment flexibility (via...
Persistent link: https://www.econbiz.de/10004968402