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We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an …, which contradicts most theories of choice such as expected utility but is consistent with a theory of responsibility … pattern that is also consistent with this theory and entails substantial allocative consequences. …
Persistent link: https://www.econbiz.de/10010340311
In a laboratory experiment, we measure subjects' willingness to pay for a transparently useless decision right … likelihood of receiving her preferred task if she rather than another participant makes the decision. Participants pay more to …
Persistent link: https://www.econbiz.de/10010347041
This paper examines a life-cycle cost concept that applies to both manufacturing and service industries in which upfront capacity investments are essential. Borrowing from the energy literature, we refer to this cost measure as the levelized product cost (LC). Per unit of output, the levelized...
Persistent link: https://www.econbiz.de/10010234531
Socio-economic criteria for climate projects have been used in analysing the value of the climate benefit of a reduction in CO2. These reports are optimistic, yet CCS demonstration plants are not implemented as expected. Little attention has been devoted to profitability assessments based on...
Persistent link: https://www.econbiz.de/10010223461
There is a planning gap for CCS projects in Europe. CCS demonstration plants are not implemented as expected. This fact is at odds with optimistic valuation reports that apply socio-economic valuation criteria for climate projects. However, CCS plants are in most cases to be implemented by...
Persistent link: https://www.econbiz.de/10010393639
-with-evaluation-errors theory that incorporates both dimensions and delivers sharp empirical predictions about their effect on choice behavior. We …. Second, even highly experienced decision-makers are more likely to make mistakes when choosing from sets with higher …
Persistent link: https://www.econbiz.de/10012602341
to what a traditional rational optimizing agent would choose. This model is a first step to understand decision-making in …
Persistent link: https://www.econbiz.de/10010192076
intuitive decision while others allow for extensive reflection time. To be able to pursue a deceptive strategy, however, a … dimension for dishonest decision-making and for the cognition process of the chance to deceive. We conduct a laboratory … opportunity and the conscious decision to misreport, reveals that more reflection time increases awareness of the misreporting …
Persistent link: https://www.econbiz.de/10011723505
.g. gender, race, sugar) have a stronger effect when the attribute is mixed with others, and so the decision becomes less …
Persistent link: https://www.econbiz.de/10011415271
and decision time. Overall, the data show that more people follow the default if the nudge is made transparent. More … importantly, though, effects of transparency differ depending on whether people are fast or slow in their decision making. In … particular, (only) slow decision makers react more positively (keeping the default) if nudging is made transparent. Moreover, the …
Persistent link: https://www.econbiz.de/10014323254