Showing 1 - 10 of 83
We study two dimensions of complexity that may interfere with individual choice. The first one is object complexity …, which corresponds to the difficulty in evaluating any given alternative in a choice set. The second dimension is composition …-with-evaluation-errors theory that incorporates both dimensions and delivers sharp empirical predictions about their effect on choice behavior. We …
Persistent link: https://www.econbiz.de/10012602341
A general framework is described specifying how boundedly rational decision makers generate their choices. Starting … decision routines (by applying New Problem Solver). Our admittedly bold attempt is loosely related to some stylized …
Persistent link: https://www.econbiz.de/10009781608
We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true … 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
Emotions were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory basically abolished emotions, behavioural economics more recently reintroduced emotions in utility theory. Beyond utility theory, economic theorists use...
Persistent link: https://www.econbiz.de/10011499845
The impact of culture on non-kin cooperation has been singled out as critical for economic activity. However, causal evidence of culture's influence on cooperation remains scant. In this paper we provide such evidence, focusing on two key components of culture: preferences and beliefs. Adopting...
Persistent link: https://www.econbiz.de/10012508741
In contexts such as education and sports, skill-accumulation of individuals over time crucially depends on the amount of training they receive, which is often allocated on the basis of repeated selection. We analyze optimal selection policies in a model of endogenous skill formation where, apart...
Persistent link: https://www.econbiz.de/10009522298
conducted an online choice experiment to characterize preferences for the morality and efficiency of payments to kidney donors …
Persistent link: https://www.econbiz.de/10011539004
The hypothesis of non-satiation of rational choice theory is very seldom posed under scrutiny, maybe because it is …
Persistent link: https://www.econbiz.de/10010461277
We examine the various senses in which economist use the term "rationality" and then outline some of the commonly drawn …
Persistent link: https://www.econbiz.de/10011793877
In the course of history, a large number of politicians have been assassinated. Rational choice hypotheses are … for a contagion effect. -- Assassinations ; rational choice ; governance ; democracy ; dictatorship ; deterrence …
Persistent link: https://www.econbiz.de/10003791827