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The Origin of Prospect Theory, or Testing the Intuitive Statistician

Heukelom, Floris - Tinbergen Institute - 2005

The origin of prospect theory is the desire to test the intuitive statistician in the real world. The development of this theory by the cognitive psychologists Kahneman and Tversky can be traced to the formers work in cognitive psychophysics, in which deviations from average behavior are termed...

Persistent link: https://www.econbiz.de/10005137110

Auctions, Market Prices and the Risk Attitude Effect

Janssen, Maarten C.W.; Karamychev, Vladimir A. - Tinbergen Institute - 2005

This paper develops one possible argument why auctioning licenses to op- erate in an aftermarket may lead to higher prices in the aftermarket compared to a more random allocation mechanism. Key ingredients in the argument are differences in firms' risk attitudes and the fact that future market...

Persistent link: https://www.econbiz.de/10005137048

Can we measure Individual Risk Attitudes in a Survey?

Ding, Xiaohao; Hartog, Joop; Sun, Yuze - Tinbergen Institute - 2010

We combine a survey and an experiment with real pay-out among Peking University students to measure and validate … individual risk attitudes. The experiment involves choosing between a cash payment and playing a lottery. The survey questions …

Persistent link: https://www.econbiz.de/10008838614

Control without Deception

Bardsley, Nicholas - Tinbergen Institute - 2000

in a public good experiment prompted by Weimann's (1994) result, from a deceptive design, that subjects are more … sensitive to free-riding than cooperation on the part of others. The experiment provides similar results to Weimann's, in that … explain decay in contributions in repeated play designs. The experiment shows there is a workable alternative to deception.<BR><BR> …

Persistent link: https://www.econbiz.de/10005136962

Conditional Cooperation and Voluntary Contributions to Public Goods

Keser, Claudia; Winden, Frans A.A.M. van - Tinbergen Institute - 2000

We compare a partners condition where the same small group of subjects plays a repeated public good game to a strangers condition where subjects play this game in changing group formations. Subjects in the partners condition contribute from the first period on significantly more to the public...

Persistent link: https://www.econbiz.de/10005136974

The Economics of Altruistic Punishment and the Demise of Cooperation

Egas, Martijn; Riedl, Arno - Tinbergen Institute - 2005

Explaining the evolution and maintenance of cooperation among unrelated individuals is one of the fundamental problems in biology and the social sciences. Recent experimental evidence suggests that altruistic punishment is an important mechanism to maintain cooperation among humans. In this...

Persistent link: https://www.econbiz.de/10005137083

When the Quality of a Nation triggers Emigration

Dalen, Hendrik P. van; Henkens, Kène - Tinbergen Institute - 2006

Why do people leave high-income countries with extensive welfare states? This article will examine what underlies the emigration intentions of native-born inhabitants of one industrialized country in particular: the Netherlands. To understand emigration from high-income countries we focus not...

Persistent link: https://www.econbiz.de/10005137297

Partners contribute more to Public Goods than Strangers: Conditional Cooperation

Keser, Claudia; Winden, Frans van - Tinbergen Institute - 1997

In a series of experiments, we compare a situation where the same group of four subjects plays 25 repetitions of a public good game (partners condition) to a situation where subjects play this game in changing group formations over 25 periods (strangers condition). We observe that, on aggregate...

Persistent link: https://www.econbiz.de/10005281945

Strategic Interactions of Bilateral Monopoly on a Private Highway

Wang, Judith Y.T.; Yang, Hai; Verhoef, Erik T. - Tinbergen Institute - 2003

This paper investigates strategic interactions between a private highway operator and a private transit operator who uses the same highway for its services. Heterogeneity of travellers is taken into account by considering a continuous distribution of values of time. Demand elasticity arises from...

Persistent link: https://www.econbiz.de/10005137164

Computing Alternating Offers and Water Prices in Bilateral River Basin Management

Houba, Harold - Tinbergen Institute

This contribution deals with the fundamental critique in Dinar et al. (1992, Theory and Decision 32) on the use of Game theory in water management: People are reluctant to monetary transfers unrelated to water prices and game theoretic solutions impose a computational burden. For the bilateral...

Persistent link: https://www.econbiz.de/10005137218