Similar Search Results

Schwerter, Frederik - University of Bonn, Germany - 2013

This study test whether social reference points impact individual risk taking. In a laboratory experiment, decision makers observe the earnings of a peer subject before making a risky choice. We exogenously manipulate the peer earnings across two treatments. We find a signicant treatment effect...

Persistent link: https://www.econbiz.de/10010747863

Exchange Rate Determination: A Model of the Decisive Role of Central Bank Cooperation and Conflict

Pope, Robin; Selten, Reinhard; Kube, Sebastian; Kaiser, … - University of Bonn, Germany - 2007

Opinion is divided on whether it is better to have a single world Â money or variable exchange rates. Â Pope, Selten and von Hagen (2003) Â propose that fresh light would be shed via an analysis that allows Â for seven complexity impacts on the exchange rate that are Â underplayed...

Persistent link: https://www.econbiz.de/10004968330

Joint measurement of risk aversion, prudence and temperance

Ebert, Sebastian; Wiesen, Daniel - University of Bonn, Germany - 2010

We propose a method to measure the intensity of risk aversion, prudence (downside risk aversion) and temperance (outer risk aversion) in experiments. Higher-order risk compensations are defined within the proper risk apportionment model of Eeckhoudt and Schlesinger [American Economic Review, 96...

Persistent link: https://www.econbiz.de/10008725919

An experimental methodology testing for prudence and third-order preferences

Ebert, Sebastian; Wiesen, Daniel - University of Bonn, Germany - 2009

We propose an experimental method to test individuals for prudence (i.e. downside risk aversion) outside the expected utility framework. Our method relies on a novel representation of compound lotteries which allows for a systematic parameterization that captures the full generality of prudence....

Persistent link: https://www.econbiz.de/10004981447

Learning Direction Theory and the Winner’s Curse

Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - University of Bonn, Germany - 2001

We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an unknown value. A winner’s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can account for this. However, other influences on...

Persistent link: https://www.econbiz.de/10004989615

Teams Take the Better Risks

Kuon, Bettina; Sadrieh, Abdolkarim; Mathauschek, Barbara - University of Bonn, Germany - 1999

Many important economic and political decisions are made by teams. In the economic literature, however, the decision units are frequently modeled as individual economic agents. The paper experimentally investigates the question to what extent observed team decisions under risk are actually...

Persistent link: https://www.econbiz.de/10004968234

Money does Not Induce Risk Neutral Behavior, but Binary Lotteries Do even Worse

Selten, Reinhard; Sadrieh, Abdolkarim; Abbink, Klaus - University of Bonn, Germany - 1995

If payoffs are tickets for binary lotteries, which involve only two money prizes, then rationality requires expected value maximization in tickets. This payoff scheme was increasingly used to induce risk neutrality in experiments. The experiment presented here involved lottery choice and...

Persistent link: https://www.econbiz.de/10004968262

Experimenting over a Long Distance - A method to facilitate intercultural experiments

Walkowitz, Gari; Oberhammer, Clemens; Hennig-Schmidt, Heike - University of Bonn, Germany - 2004

interactive experiments in geographically separated subject pools. Applying ELD to an intercultural trust experiment with … participants from Argentina, China and Germany we found a striking evidence for transcontinental trust behavior. In addition to … Chinese senders’ discrimination of Argentinean players no discrimination in trust and reciprocity behavior was observed …

Persistent link: https://www.econbiz.de/10004989609

Neutral versus Loaded Instructions in a Bribery Experiment

Abbink, Klaus; Hennig-Schmidt, Heike - University of Bonn, Germany - 2002

This paper contributes to the ongoing methodological debate on context-free versus in-context presentation of experimental tasks. We report an experiment using the paradigm of a bribery experiment. In one condition, the task is presented in a typical bribery context, the other one uses abstract...

Persistent link: https://www.econbiz.de/10004989620

How Payment Systems Affect Physicians´ Provision Behaviour – An Experimental Investigation

Hennig-Schmidt, Heike; Selten, Reinhard; Wiesen, Daniel - University of Bonn, Germany - 2009

A central concern in health economics is to understand the influence of commonly used physician payment systems. We introduce a controlled laboratory experiment to analyze the influence of fee-for-service (FFS) and capitation (CAP) payments on physicians' behaviour. Medical students decide as...

Persistent link: https://www.econbiz.de/10008493100

1
2
3
4
5
6
7
8
Next
Last