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Yesterday's expectation of tomorrow determines what you do today: The role of reference-dependent utility from expectations

Matthey, Astrid - Wirtschaftswissenschaftliche Fakultät, … - 2008

The paper introduces the concept of adjustment utility, that is, reference-dependent utility from expectations. It offers an explanation for observed preferences that cannot be explained with existing models, and yields new predictions for individual decision making. The model gives a simple...

Persistent link: https://www.econbiz.de/10005051031

Unravelling conditional cooperation - Reciprocity, inequity aversion, and anchoring in public goods provision

Cappelletti, Dominique; Güth, Werner; Ploner, Matteo - Wirtschaftswissenschaftliche Fakultät, … - 2011

Extensive research on human cooperation in social dilemmas has shown that individuals condition their behaviour upon … cooperation. We try to assess the relative importance of three motives - namely reciprocity, inequity aversion, and anchoring - in … games, overall we find much less conditional cooperation. In a control treatment with a less complex design, conditional …

Persistent link: https://www.econbiz.de/10010686086

Psychology and Economics rather than Psychology versus Economics: Cultural differences but no barriers!

Brandstätter, Hermann; Güth, Werner; Kliemt, Hartmut - Wirtschaftswissenschaftliche Fakultät, … - 2009

During the last three decades the ascent of behavioral economics clearly helped to bring down artificial disciplinary boundaries between psychology and economics. Noting that behavioral economics seems still under the spell of the rational choice tradition - and, indirectly, of behaviorism - we...

Persistent link: https://www.econbiz.de/10005090539

Learning in Networks - An Experimental Study using Stationary Concepts

Berninghaus, Siegried K.; Neumann, Thomas; Vogt, Bodo - Wirtschaftswissenschaftliche Fakultät, … - 2011

Our study analyzes theories of learning for strategic interactions in networks. Participants played two of the 2 x 2 games used by Selten and Chmura (2008) and in the comment by Brunner, Camerer and Goeree (2009). Every participant played against four neighbors and could choose a different...

Persistent link: https://www.econbiz.de/10009318135

Do consumers prefer offers that are easy to compare? An experimental investigation

Crosetto, Paolo; Gaudeul, Alexia - Wirtschaftswissenschaftliche Fakultät, … - 2011

Consumers make mistakes when facing complex purchasing decision problems but if at least some consumers choose only among offers that are easy to compare with others then firms will adopt common ways to present their offers and thus make choice easier (Gaudeul and Sugden, 2011). We design an...

Persistent link: https://www.econbiz.de/10009320191

Revealed Notions of Distributive Justice II: Experimental Evidence

Becker, Nicole; Häger, Kirsten; Heufer, Jan - Wirtschaftswissenschaftliche Fakultät, … - 2013

We report the results of a combination of a dictator experiment with either a "social planner" or a "veil of ignorance" experiment. The experimental design and the analysis of the data are based on the theoretical framework proposed in the companion paper by Becker, Häger, and Heufer (BHH,...

Persistent link: https://www.econbiz.de/10010700372

Compulsory Disclosure of Private Information Theoretical and Experimental Results for the "Acquiring-a-Company" Game

Güth, Werner; Pull, Kerstin; Stadler, Manfred; Zaby, … - Wirtschaftswissenschaftliche Fakultät, … - 2014

Based on the "acquiring-a-company" game of Samuelson and Bazerman (1985), we theoretically and experimentally analyze the acquisition of a firm. Thereby we compare cases of symmetrically and asymmetrically informed buyers and sell- ers. This setting allows us to predict and test the effects of...

Persistent link: https://www.econbiz.de/10010739423

On the Context-Dependency of Inequality Aversion - Experimental Evidence and a Stylized Model -

Bäker, Agnes; Güth, Werner; Pull, Kerstin; Stadler, … - Wirtschaftswissenschaftliche Fakultät, … - 2012

We consider three-person envy games with a proposer, a responder, and a dummy player. In this class of games, the proposer, rather than allocating a constant pie, chooses the pie size which the responder can then accept or reject while the dummy player can only refuse his own share. While the...

Persistent link: https://www.econbiz.de/10010551525

Testing the strength and robustness of the attraction effect in consumer decision making

Crosetto, Paolo; Gaudeul, Alexia - Wirtschaftswissenschaftliche Fakultät, … - 2014

We report the results of an original experiment that was designed to test the strength and robustness of the attraction effect. Rather than the usual simple tests for this effect, we consider a conceptually simple consumer purchasing task where alternatives are however difficult to evaluate. For...

Persistent link: https://www.econbiz.de/10010890001

How do Incentives affect Creativity?

Eckartz, Katharina; Kirchkamp, Oliver; Schunk, Daniel - Wirtschaftswissenschaftliche Fakultät, … - 2012

We compare performance in a word based creativity task under three incentive schemes: a flat fee, a linear payment and a tournament. Furthermore, we also compare performance under two control tasks (Raven's advanced progressive matrices or a number-adding task) with the same treatments. In all...

Persistent link: https://www.econbiz.de/10010884482