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Cognitive Imprecision and Stake-Dependent Risk Attitudes

Khaw, Mel Win; Li, Ziang; Woodford, Michael - 2022

In an experiment that elicits subjects’ willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold … presence of cognitive noise. Moreover, the cognitive noise required by our hypothesis is consistent with patterns of bias and …

Persistent link: https://www.econbiz.de/10014077011

Perceived Wealth, Cognitive Sophistication and Behavioral Inattention

Assenza, Tiziana - 2020

By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance … large majority of subjects indeed have a bias in the perception of wealth, such that balance sheet composition matters: for … implies greater perceived wealth. The predominance of this bias is explained by low cognitive sophistication and great …

Persistent link: https://www.econbiz.de/10012845685

Cognitive Imprecision and Strategic Behavior

Frydman, Cary; Nunnari, Salvatore - 2021

We propose and experimentally test a theory of strategic behavior in which players are cognitively imprecise and perceive a fundamental parameter with noise. We focus on 2 x 2 coordination games, which generate multiple equilibria when perception is precise. When adding a small amount of...

Persistent link: https://www.econbiz.de/10013310763

Big G

Cox, Lydia - 2020

"Big G" typically refers to aggregate government spending on a homogeneous good. In this paper, we open up this construct by analyzing the entire universe of procurement contracts of the US government and establish five facts. First, government spending is granular, that is, it is concentrated...

Persistent link: https://www.econbiz.de/10012836206

Cognitive Biases : Mistakes or Missing Stakes?

Enke, Benjamin - 2020

reduced reliance on intuitions. In none of the tasks are very high stakes sufficient to de-bias participants, or come even …

Persistent link: https://www.econbiz.de/10012838245

Behavioral New Keynesian Models : Learning vs. Cognitive Discounting

Meggiorini, Greta; Milani, Fabio - 2021

This paper estimates a New Keynesian model with new and old behavioral elements. Agents in the model exhibit cognitive discounting, or myopia: they discount variables far into the future at higher rates than typically implied in the benchmark model. We investigate the model under different...

Persistent link: https://www.econbiz.de/10013229788

What are the Priorities of Bureaucrats? Evidence from Conjoint Experiments with Procurement Officials

Tukiainen, Janne; Blesse, Sebastian; Bohne, Albrecht; … - 2023

While effective bureaucracy is crucial for state capacity, its decision-making remains a black box. We elicit preferences of 900+ real-world public procurement officials in Finland and Germany. This is an important pursuit as they report having sizeable discretion and minimal extrinsic...

Persistent link: https://www.econbiz.de/10014263185

It's Not My Fault! Self-Confidence and Experimentation

Hestermann, Nina - 2019

external factors if they fail. They are too easily dissatisfied with their environment, which leads them to experiment in …

Persistent link: https://www.econbiz.de/10012892079

Lying and Reciprocity

Dato, Simon - 2019

empirically in a large scale online experiment and in the laboratory. In both experiments, the second mover’s lying propensity …

Persistent link: https://www.econbiz.de/10012892217

Bargaining With Charitable Promises : True Preferences and Strategic Behavior

Lange, Andreas; Schwirplies, Claudia - 2021

We report experimental findings on the role of charitable promises in bargaining settings. We vary the enforceability of such promises within variants of ultimatum games where the proposer suggest a split between himself, the responder and a charitable donation. By reneging on initial pledges,...

Persistent link: https://www.econbiz.de/10013223664