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Research on public-good games reveals greater contributions by fast decision-makers than by slow decision …, we find that fast decision-makers give more than slow decision-makers when the equilibrium is below the mid-point of the …. Consistent with mistakes decreasing with decision time, we find that individuals who make (or have to make) fast decisions are …
Persistent link: https://www.econbiz.de/10012972651
The paper develops an axiomatic framework for rational decision making. The von Neumann-Morgenstern axioms give rise to …) actions, the more weight they receive. If uncertainty is endogenous to the decision process, the new rationale for discounting …
Persistent link: https://www.econbiz.de/10013107349
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/10013315553
Redistribution is an inevitable feature of collective pension schemes. It is still largely an open question what people‘s preferences are regarding redistribution - both through pensions schemes as well as more generally. It would seem that economists have little to say about this question, as...
Persistent link: https://www.econbiz.de/10013316175
using graph theory. This sufficient condition allows us to use the replacement function approach of Cornes and Hartley (2007 …
Persistent link: https://www.econbiz.de/10012915087
relevant for economic decision making, depends not only on absolut but also on distributional aspects. Moreover, evidence is …
Persistent link: https://www.econbiz.de/10012916152
the financial consequences of actions, induced by incomplete information about the costs of providing quality, affect … about seller costs in the laboratory, we find that such a lack of clarity has effects on the terms of relational contracts …. However, these effects only concern the distribution of rents, and not efficiency …
Persistent link: https://www.econbiz.de/10012981595
We compare different designs that have been used to test for an impact of time horizon on discounting, using real incentives and two representative data sets. With the most commonly used type of design we replicate the typical finding of declining (hyperbolic) discounting, but with other designs...
Persistent link: https://www.econbiz.de/10013109751
More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...
Persistent link: https://www.econbiz.de/10013139800
The issue of low-wage competition in services trade involving posted workers is controversial in the EU. Using Swedish survey data, people's attitudes are found to be more negative to such trade than to goods trade. The differences depend on both a preference for favouring social groups to which...
Persistent link: https://www.econbiz.de/10013104832