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Nominalist Heuristics and Economic Theory
Pope, Robin; Selten, Reinhard; Kube, Sebastian - University of Bonn, Germany - 2009
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
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Prominent Numbers, Indices and Ratios in Exchange Rate Determination and Financial Crashes: in Economists’ Models, in the Field and in the Laboratory
Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - University of Bonn, Germany - 2009
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
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An Experimental Investigation of the Option Pricing Approach
Abbink, Klaus; Kuon, Bettina - University of Bonn, Germany - 1996
The Paper reports a basic Experiment on the option pricing approach. Each trader with an increasing utility for money …
Persistent link: https://www.econbiz.de/10004968214
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An Options Pricing Experiment with Professional Traders
Abbink, Klaus; Kuon, Bettina - University of Bonn, Germany
traders of financial assets. The experimental results are compared to a corresponding experiment with students. The data show …This paper reports an option pricing experiment on the binomial model, which has been conducted with professional … is transferred from real financial markets without explicit probability distributions. Students without practical …
Persistent link: https://www.econbiz.de/10004968286
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Ein Optionsbewertungsexperiment mit professionellen Tradern
Abbink, Klaus; Kuon, Bettina - University of Bonn, Germany
Dieser Aufsatz beschreibt ein Optionsbewertungsexperiment zum Binomialmodell, das mit professionellen Tradern von Finanztiteln durchgeführt wurde. Die Ergebnisse dieses Experiments werden mit denen eines entsprechenden Versuchs mit Studenten verglichen. Es zeigt sich, daß die professionellen...
Persistent link: https://www.econbiz.de/10004968326
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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   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
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Exploring Group Behavior in a Power-to-Take Video Experiment
Bosman, Ronald; Hennig-Schmidt, Heike; vanWinden, Frans - University of Bonn, Germany - 2002
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
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Solidarity and Performance Differences
Eberlein, Marion; Przemeck, Judith - University of Bonn, Germany - 2006
To investigate the influence of performance differences on donating behavior in a solidarity game we introduce a real effort task. In each three-person-group subjects are ranked according to their task performance. Since each potential winner is informed about his own rank and the potential...
Persistent link: https://www.econbiz.de/10004968345
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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
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
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Causes, consequences, and cures of myopic loss aversion - An experimental investigation
Fellner, Gerlinde; Sutter, Matthias - University of Bonn, Germany - 2005
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