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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
decision-making in the context of initial play in two-player matrix games, analyzing over 90,000 human decisions across more …
Persistent link: https://www.econbiz.de/10015051641
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
are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …
Persistent link: https://www.econbiz.de/10011557745
Implicit contracts can mitigate moral hazard in labor, credit and product markets. The enforcement mechanism underlying an implicit contract is the threat of exclusion: the agent fears that he will lose future income if the principal breaks off the relationship. This threat may be very weak in...
Persistent link: https://www.econbiz.de/10011540779
We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices. Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...
Persistent link: https://www.econbiz.de/10011408444
We designed four observational learning experiments to identify the key channels that, along with Bayes-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in turn by subjects endowed with private signals of...
Persistent link: https://www.econbiz.de/10011789104
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
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
Persistent link: https://www.econbiz.de/10003647263