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Contracts, biases and consumption of access services
Leider, Stephen G.; Sahin, Özge - 2012
We consider a consumption model that takes into account the valuation and demand uncertainties that consumers face while using access services. Typical examples of such services include telecommunication services, extended warranties for consumer electronics, and club memberships. We demonstrate...
Persistent link: https://www.econbiz.de/10010280840
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Time Pressure and Regret in Sequential Search
Klimm, Felix; Kocher, Martin G.; Opitz, Timm; Schudy, Simeon - 2021
thereby distort optimal search. In addition, urgency may alter decision-making processes and thereby the salience of regret … interaction on search behavior in a pre-registered, theory-based, and well-powered experiment. We find that urgency reduces … decision times and perceived decision quality but does not alter search length. Only very inexperienced decision-makers buy …
Persistent link: https://www.econbiz.de/10013224079
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The nature of risk preferences: Evidence from insurance choices
Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; … - 2012
We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates standard risk aversion (diminishing marginal utility for wealth) and probability distortions. We find that probability distortions - characterized by substantial overweighting of small...
Persistent link: https://www.econbiz.de/10010288237
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Organizations, Diffused Pivotality and Immoral Outcomes
Falk, Armin; Szech, Nora - 2013
This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for …
Persistent link: https://www.econbiz.de/10010317014
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Contracts, Biases and Consumption of Access Services
Leider, Stephen - 2012
We consider a consumption model that takes into account the valuation and demand uncertainties that consumers face while using access services. Typical examples of such services include telecommunication services, extended warranties for consumer electronics, and club memberships. We demonstrate...
Persistent link: https://www.econbiz.de/10013111994
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Beliefs and Utility: Experimental Evidence on Preferences for Information
Falk, Armin; Zimmermann, Florian - 2016
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
Persistent link: https://www.econbiz.de/10011555503
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Status Seeking Behavior of the Poor : A Study on India
Marjit, Sugata - 2018
This paper is the first attempt towards directly testing the existence of status seeking behavior of the poor for a developing economy, India, with the help of a large dataset. The paper empirically validates status consciousness among the relatively poor for both rural and urban areas across...
Persistent link: https://www.econbiz.de/10012908708
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Estimating Individual Ambiguity Aversion: A Simple Approach
Gneezy, Uri; Imas, Alex; List, John A. - 2015
We introduce a simple, easy to implement instrument for jointly eliciting risk and ambiguity attitudes. Using this instrument, we structurally estimate a two-parameter model of preferences. Our findings indicate that ambiguity aversion is significantly overstated when risk neutrality is assumed....
Persistent link: https://www.econbiz.de/10010500387
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Cooperation and Mistrust in Relational Contracts
Herz, Holger; Schmutzler, Armin; Volk, André - 2016
Work and trade relationships are often governed by relational contracts, in which incentives for cooperative action today stem from the prospective future benefits of the relationship. In this paper, we study how reductions in clarity about the financial consequences of actions, induced by...
Persistent link: https://www.econbiz.de/10011522545
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Time Pressure and Regret in Sequential Search
Klimm, Felix; Kocher, Martin G.; Optiz, Timm; Schudy, … - 2021
thereby distort optimal search. In addition, urgency may alter decision-making processes and thereby the salience of regret … interaction on search behavior in a pre-registered, theory-based, and well-powered experiment. We find that urgency reduces … decision times and perceived decision quality but does not alter search length. Only very inexperienced decision-makers buy …
Persistent link: https://www.econbiz.de/10012599209