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Optimal Search with Costly Recall
Janssen, Maarten C.W.; Parakhonyak, Alexei - Tinbergen Institute - 2007
This paper builds a consumer search model where the cost of going back to stores already searched is explicitly taken into account. We show that the optimal search rule under costly recall is very different from the optimal search rule under perfect recall. Under costly recall, the optimal...
Persistent link: https://www.econbiz.de/10005450788
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On the Composition of Committees
Beniers, Klaas J.; Swank, Otto H. - Tinbergen Institute - 2003
This paper is concerned with the role of committees in collective decision-making processes in a world where agents must be motivated to collect information. Committees improve the quality of decision-making by providing information and by coordinating the collection of information. We address...
Persistent link: https://www.econbiz.de/10005144571
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A Simple Model of Self-Assessments
Martinez, Silvia Dominguez; Swank, Otto H. - Tinbergen Institute - 2006
We develop a simple model that describes individuals’ self-assessments of
Persistent link: https://www.econbiz.de/10005036249
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Errors in Judicial Decisions
Sonnemans, Joep; Dijk, Frans van - Tinbergen Institute - 2008
In criminal cases the task of the judge is to transform the uncertainty about the facts into the certainty of the … verdict. In this experiment we examine the relationship between evidence of which the strength is known, subjective …
Persistent link: https://www.econbiz.de/10005209452
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Investment, Resolution of Risk, and the Role of Affect
Winden, Frans van; Krawczyk, Michal; Hopfensitz, Astrid - Tinbergen Institute - 2008
-based questionnaire before the experiment and participants’ preferences for resolution timing, risk, and time were incentive compatibly … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the …
Persistent link: https://www.econbiz.de/10005144438
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Social Preferences in Private Decisions
Linde, Jona; Sonnemans, Joep - Tinbergen Institute - 2012
Social preference models were originally constructed to explain two things: why people spend money to affect the earnings of others and why the income of others influences reported happiness. We test these models in a novel experimental situation where participants face a risky decision that...
Persistent link: https://www.econbiz.de/10009391881
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‘Let me dream on!’ Anticipatory Emotions and Preference for Timing in Lotteries
Kocher, Martin; Krawczyk, Michal; Winden, Frans van - Tinbergen Institute - 2009
emotions. This conjecture is tested in an experiment with real lottery tickets. We show that our theoretical considerations may …
Persistent link: https://www.econbiz.de/10008513217
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Investment, Expectations and Uncertainty: Empirical Evidence on the Relevance of Firm Size
Koetse, Mark J.; Vlist, Arno J. van der; Groot, Henri … - Tinbergen Institute - 2003
This paper analyses the effect of uncertainty on investment spending. We analyse two types of investment, i ….e. aggregate investment and investment in energy saving technologies, using subjective evaluations of expectations and uncertainty … of general investment spending. Furthermore, expectations and uncertainty have important although different effects on …
Persistent link: https://www.econbiz.de/10005450775
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Equilibrium Selection in Cheap Talk Games: ACDC rocks when Other Criteria remain silent
Ruiz, Adrian de Groot; Offerman, Theo; Onderstal, Sander - Tinbergen Institute - 2011
the size of credible deviations. In our experiment, we find support for the relevance of credible deviations. In addition …
Persistent link: https://www.econbiz.de/10008838631
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Policy Makers, Advisors, and Reputation
Wrasai, Phongthorn; Swank, Otto H. - Tinbergen Institute - 2004
When hiring an adviser (he), a policy maker (she) often faces the problem that she has incomplete information about his preferences. Some advisers are good, in the sense that their preferences are closely aligned to the policy maker's preferences, and some advisers are bad. Recently, some...
Persistent link: https://www.econbiz.de/10005137032