Showing 1 - 10 of 4,235
It is well recognised that the issue of the social rate of discount applies only to the gains from public investment that accrues to the public sector. When it comes to measurement, however, there is a problem: public investment in infrastructure and the like do not usually yield direct...
Persistent link: https://www.econbiz.de/10011514079
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
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
when a decision is complex, they implicitly treat different time delays to some degree alike. By experimentally measuring … when the decision environment is more complex. Third, cognitive uncertainty matters for choice architecture: people who are …
Persistent link: https://www.econbiz.de/10012697938
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/10012534681
are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …
Persistent link: https://www.econbiz.de/10011557745
preferences. Among the behavioral patterns that allow for a clear-cut interpretation on the decision level, we find that roughly …
Persistent link: https://www.econbiz.de/10014556632
An extensive literature has studied ambiguity aversion in economic decision making, and how ambiguity aversion can …
Persistent link: https://www.econbiz.de/10010496989
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10003813633