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Optimal and Fair Prizing in Sequential Round-Robin Tournaments: Experimental Evidence
Lauber, Arne; March, Christoph; Sahm, Marco - 2022
the prize structure affects the intensity, fair-ness, and dynamic behavior in sequential round-robin tournaments with three …
Persistent link: https://www.econbiz.de/10013266616
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Diagnostic Uncertainty and Insurance Coverage in Credence Goods Markets
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2020
Credence goods markets – like for health care or repair services – with their informational asymmetries between sellers and customers are prone to fraudulent behavior of sellers and resulting market inefficiencies. We present the first model that considers both diagnostic uncertainty of...
Persistent link: https://www.econbiz.de/10012425587
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Diagnostic Uncertainty and Insurance Coverage in Credence Goods Markets
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2021
Credence goods markets – like for health care or repair services – with their informational asymmetries between sellers and customers are prone to fraudulent behavior of sellers and resulting market inefficiencies. We present the first model that considers both diagnostic uncertainty of...
Persistent link: https://www.econbiz.de/10013314966
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The Effect of Language on Economic Behavior: Experimental Evidence from Children's Intertemporal Choices
Sutter, Matthias; Angerer, Silvia; Rützler, Daniela; … - 2015
According to Chen’s (2013) linguistic-savings hypothesis, languages which grammatically separate the future and the present (like English or Italian) induce less future-oriented behavior than languages in which speakers can refer to the future by using present tense (like German). We...
Persistent link: https://www.econbiz.de/10011388218
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An experimental study on the effects of communication, credibility, and clustering in network games
Charness, Gary; Feri, Francesco; Meléndez-Jiménez, … - 2019
The effectiveness of social interaction depends strongly on an ability to coordinate actions efficiently. In large networks, such coordination may be very difficult to achieve and may depend on the communication technology and the network structure. We examine how pre-play communication and...
Persistent link: https://www.econbiz.de/10012052765
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Collective Intertemporal Decisions and Heterogeneity in Groups
Glätzle-Rützler, Daniela; Lergetporer, Philipp; … - 2019
Many important intertemporal decisions, such as investments of firms or households, are made by groups rather than individuals. Little is known what happens to such collective decisions when group members have different incentives for waiting, because the economics literature on group decision...
Persistent link: https://www.econbiz.de/10012052822
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Trustworthiness in the Financial Industry
Gill, Andrej; Heinz, Matthias; Schumacher, Heiner; … - 2020
The financial industry has been struggling with widespread misconduct and public mistrust. Here we argue that the lack of trust into the financial industry may stem from the selection of subjects with little, if any, trustworthiness into the financial industry. We identify the social preferences...
Persistent link: https://www.econbiz.de/10012269571
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The Formation of Risk Preferences through Small-Scale Events
Angerer, Silvia; Dutcher, E. Glenn; Glätzle-Rützler, … - 2021
Large, macroeconomic shocks in the past have been shown to influence economic decisions in the present. We study in an experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In line with a reinforcement learning model, we...
Persistent link: https://www.econbiz.de/10012657976
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The Roots of Cooperation
Bašic, Zvonimir; Bindra, Parampreet Christopher; … - 2021
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
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Too Lucky to be True - Fairness Views under the Shadow of Cheating
Bortolotti, Stefania; Soraperra, Ivan; Sutter, Matthias; … - 2017
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