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In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and spite can be used to rationalize deviations from risk...
Persistent link: https://www.econbiz.de/10012018322
We study how punishment influences conditional cooperation. We ask two questions: 1) how does conditional cooperation change if a subject can be punished and 2) how does conditional cooperation change if a subject has the power to punish others. In particular, we disentangle the decision to be a...
Persistent link: https://www.econbiz.de/10011887375
correlated with giving in the absence of risk. We find limited support for existing models of ex-post and ex-ante fairness. Our …
Persistent link: https://www.econbiz.de/10011584886
We study the development of cooperation in 929 young children, aged 3 to 6. In a unified experimental framework, we examine pre-registered hypotheses about which of three fundamental pillars of human cooperation – direct and indirect reciprocity, and third-party punishment – emerges earliest...
Persistent link: https://www.econbiz.de/10012799704
The completeness axiom of choice has been questioned for long, and in response, theoretical models of decision making allowing for incomplete preferences have been developed. So far the theoretical accomplishments have however not been paired with empirical evidence on the actual existence of...
Persistent link: https://www.econbiz.de/10010531832
inequality, such as differences in effort, luck, or opportunities. We study how fairness views and the extent of redistribution … outcome. Although third parties cannot verify cheating, we find that the mere suspicion of cheating changes fairness views of ….e., participants who never redistribute. Without cheating opportunities, libertarian fairness views dominate, while egalitarian views …
Persistent link: https://www.econbiz.de/10011698730
Many studies document systematic gender differences in a variety of important economic preferences, such as risk-taking, competition and pro-sociality. One potential implication of this literature is that increased female representation in decision-making bodies may significantly alter...
Persistent link: https://www.econbiz.de/10011777641
An important element for the public support of policies is their perceived justice. At the same time most policy choices have uncertain outcomes. We report the results of a first experiment investigating just allocations of resources when some recipients are exposed to uncertainty. Although,...
Persistent link: https://www.econbiz.de/10010318799
To accurately predict behavior economists need reliable measures of individual time preferences and attitudes toward risk and typically need to assume stability of these characteristics over time and across decision domains. We test the reliability of two choice tasks for eliciting discount...
Persistent link: https://www.econbiz.de/10010318820
The gender gap in income and leadership positions in many domains of our society is an undisputed pervasive phenomenon. One explanation for the disadvantaged position of women put forward in the economic and psychology literature is the weaker response of women to competitive incentives. Despite...
Persistent link: https://www.econbiz.de/10012492955