Showing 1 - 10 of 125
The present paper examines one of the central elements of evolutionary thinking - competition formalized by the replicator dynamics mechanism. Using data on product characteristics of automobiles sold on the German domestic market over the period 2001-2006, we construct a competitiveness or...
Persistent link: https://www.econbiz.de/10008478715
The aim of this paper is an investigation on the role of demand in industrial dynamics. Despite the decades-long debate on demand and innovation, theory still lacks a comprehensive analytical formulation. This paper proposes a model where demand is conceived as a peculiar blend of two...
Persistent link: https://www.econbiz.de/10005090572
Experimental studies of the WTP-WTA gap avoid social trading by implementing an incentive compatible mechanism for each individual trader. We compare a traditional random price mechanism and a novel elicitation mechanism preserving social trading, without sacrificing mutual incentive...
Persistent link: https://www.econbiz.de/10010706056
contributions. This paper presents experimental results illustrating that the effects of risk and uncertainty depend on the employed … efficiency gains, the presence of risk and uncertainty about the public good's value is not detrimental to cooperation. This … ?nding casts doubt on the hypothesis that risk and uncertainty, per se, weaken people's willingness to contribute. …
Persistent link: https://www.econbiz.de/10004964131
This experimental study, first, compares the individual valuations of two risk reduction mechanisms: self-insurance and … valuations when loss amounts are known. results confirm that there exists no "framing effect" due to the two risk reduction …
Persistent link: https://www.econbiz.de/10005090463
whether this type of behavior persists when risk comes into play. I devise an experiment which sheds light on the … interrelation of risk and social preferences by measuring (1) individual risk preferences, (2) interpersonal risk preferences, and … (3) social preferences under certainty. The results reveal that a large share of subjects choose to accept more risk or …
Persistent link: https://www.econbiz.de/10005051035
a multi-arm bandit game with one safe and two risky alternatives. In this setting, risk taking produces a learning … network structure affect risk taking. We find that group size has an effect on risk taking that is qualitatively in line with …
Persistent link: https://www.econbiz.de/10008464023
Hoheitliche Länderrisiken im hier beschriebenen Sinne sind bankbetriebliche Risiken, die im internationalen Kreditgeschaet durch die Zahlungsunfähigkeit oder -unwilligkeit der ausländischen Regierung entstehen. Länderrisiko-Analysen untersuchen folglich die Frage nach der Bonität eines...
Persistent link: https://www.econbiz.de/10005786082
An advisor is supposed to recommend a financial product in the best interest of her client. However, the best product for the client may not always be the product yielding the highest commission (paid by product providers) to the advisor. Do advisors nevertheless provide truthful advice? If not,...
Persistent link: https://www.econbiz.de/10008511336
We run a market experiment where firms can choose not only their price but also whether to present comparable offers. They are faced with artificial demand from consumers who make mistakes when assessing the net value of products on the market. If some offers are comparable however, some...
Persistent link: https://www.econbiz.de/10010942823