Similar Search Results

The framing of games and the psychology of play

Dufwenberg, Martin; Gächter, Simon; Hennig-Schmidt, Heike - 2010

Psychological game theory can provide rational-choice-based framing effects; frames influence beliefs, beliefs …-shot public good games we show that frames affect subject’s first- and second-order beliefs, and contributions. From a … contributions are related to second- and first-order beliefs, respectively. Our results are consistent with either. -- Framing …

Persistent link: https://www.econbiz.de/10008986776

Testing independence conditions in the presence of errors and splitting effects

Birnbaum, Michael H.; Schmidt, Ulrich; Schneider, Miriam D. - 2010

This paper presents an experimental test of several independence conditions implied by expected utility and alternative models. We perform a repeated choice experiment and fit an error model that allows us to discriminate between true violations of independence and those that can be attributed...

Persistent link: https://www.econbiz.de/10003950296

Allais paradoxes can be reversed by presenting choices in canonical split form

Birnbaum, Michael H.; Schmidt, Ulrich - 2010

This paper tests Birnbaum’s (2004) theory that the constant consequence paradoxes of Allais are due to violations of coalescing, the assumption that when two branches lead to the same consequence, they can be combined by adding their probabilities. Rank dependent utility and cumulative...

Persistent link: https://www.econbiz.de/10003950768

The framing of games and the psychology of play

Dufwenberg, Martin (contributor); … - 2008

Psychological game theory can help provide a rational choice explanation of framing effects; frames influence beliefs …, beliefs influence motivations. We explain this theoretically, and explore the empirical relevance experimentally. In a 2 …×2 design of one-shot public good games we show that frames affect subject's first- and second-order beliefs, and contributions …

Persistent link: https://www.econbiz.de/10003782356