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A model of reference-dependent belief updating

Maier, Johannes K.; König, Clemens - 2016

We propose a model of instrumental belief choice under loss aversion. When new information arrives, an agent is prompted to abandon her prior. However, potential posteriors may induce her to take actions that generate a lower utility in some states than actions induced by her prior. These losses...

Persistent link: https://www.econbiz.de/10011557745

Contracts, biases and consumption of access services

Leider, Stephen G.; Sahin, Ozge - 2012

to overconsumption and lost surplus. These errors are partially driven by mistaken beliefs about the value distribution …

Persistent link: https://www.econbiz.de/10009489036

Negotiation under the curse of knowledge

Pierrot, Thibaud - 2019 - Revised November 2019

of bargaining failures. Unlike previous behavioural research, that is mostly based on motivated beliefs and actions, this …

Persistent link: https://www.econbiz.de/10012129125

Negotiation under the curse of knowledge

Pierrot, Thibaud - 2019

of bargaining failures. Unlike previous behavioural research, that is mostly based on motivated beliefs and actions, this …

Persistent link: https://www.econbiz.de/10012104838

Individual and developmental differences in the relationship of preferences and theory of mind

Leipold, Kristina; Vetter, Nora C.; Dittrich, Marcus; … - 2012

Theory of mind and individual preferences are important determinants in social decision making. The current study examined in a large sample whether being a cooperative preference type is related with better theory of mind skills. Furthermore, by testing adolescents and adults, we examined the...

Persistent link: https://www.econbiz.de/10009689352

Time pressure and regret in sequential search

Klimm, Felix; Kocher, Martin; Opitz, Timm; Schudy, Simeon - 2021

Perceived urgency and regret are common in many sequential search processes; for example, sellers often pressure buyers in search of the best offer, both time-wise and in terms of potential regret of forgoing unique purchasing opportunities. Theoretically, these strategies result in anticipated...

Persistent link: https://www.econbiz.de/10012534681

A note on the design of experiments involving public goods

Graves, Philip E. - 2010

economists have turned their attention to the conditions under which free riding would be expected to occur. A model of free …-world dimension of free riding. In a cash-in-advance economy, free riding becomes a two-stage problem, while existing experiments only … the public good and leisure is valuable. Existing experiments start with a given number of "tokens" for each decision …

Persistent link: https://www.econbiz.de/10008697050

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/10012029172

The effect of language on economic behavior : experimental evidence from children's intertemporal choices

Sutter, Matthias; Angerer, Silvia; Glätzle-Rützler, … - 2015 - Date: 25 September 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 complement...

Persistent link: https://www.econbiz.de/10011343740

Implicit preferences inferred from choice

Cunningham, Tom; De Quidt, Jonathan - 2016 - Preliminary draft

A longstanding distinction in psychology is between implicit and explicit preferences. Implicit preferences are ordinarily measured by observing non-choice data, such as response time. In this paper we introduce a method for inferring implicit preferences directly from choices. The necessary...

Persistent link: https://www.econbiz.de/10011415271