rate are generated by human   decisions; 5) the non-maximising heuristics that in the complex   economy agents use; 6 …

or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are …. But in the typical complex situation giving rise to nominalist heuristics neither 1) nor 2) hold, and therefore what is … paper. Pope et al 2009b, shows field and laboratory evidence of heuristics in the form of prominent numbers entering …

predict exchange rates and to advocate floating exchange rates, economists unwittingly employ nominalist heuristics. Second …, nominalist heuristics have influenced actual exchange rates through the centuries, and this finding is replicated in the … laboratory. Third, nominalist heuristics are incompatible with expected utility theory which excludes the evaluation stage, and …

The Paper reports a basic Experiment on the option pricing approach. Each trader with an increasing utility for money …

This paper reports an option pricing experiment on the binomial model, which has been conducted with professional … traders of financial assets. The experimental results are compared to a corresponding experiment with students. The data show …