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Capturing the complexity of human strategic decision-making with machine learning
Zhu, Jian-Qiao; Peterson, Joshua; Enke, Benjamin; … - 2024
Understanding how people behave in strategic settings–where they make decisions based on their expectations about the behavior of others–is a longstanding problem in the behavioral sciences. We conduct the largest study to date of strategic decision-making in the context of initial play in...
Persistent link: https://www.econbiz.de/10015051641
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Informational requirements of nudging
Benkert, Jean-Michel; Netzer, Nick - 2015 - This version: April 2015, First version: November 2014
A nudge is a non-coercive paternalistic intervention that attempts to improve choices by manipulating the framing of a …
Persistent link: https://www.econbiz.de/10010515471
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Concentration bias in intertemporal choice
Dertwinkel-Kalt, Markus; Gerhardt, Holger; Riener, Gerhard - 2021
Many intertemporal trade-offs are unbalanced: while the advantages of options are concentrated in a few periods, the disadvantages are dispersed over numerous periods. We provide novel experimental evidence for "concentration bias", the tendency to overweight advantages that are concentrated in...
Persistent link: https://www.econbiz.de/10012500576
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Going green : framing effects in a dynamic coordination game
Gerlagh, Reyer; Heijden, Eline C. van der - 2015
compare a neutral language treatment with a 'green framing' treatment, in which meaningful context is added to the … instructions. We find the green framing to significantly increase the number of profitable transitions, but also to inhibit the … similar even though the green framing results in twice as many transitions. In the context of environmental policy, the …
Persistent link: https://www.econbiz.de/10011392475
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The importance of peers for compliance with norms of fair sharing
Gächter, Simon; Gerhards, Leonie; Nosenzo, Daniele - 2017
A burgeoning literature in economics has started examining the role of social norms in explaining economic behavior. Surprisingly, the vast majority of this literature has studied social norms in asocial decision settings, where individuals are observed to act in isolation from each other. In...
Persistent link: https://www.econbiz.de/10011659355
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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
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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
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Overconfidence in investment decisions : an experimental approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - 2001
We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute …
Persistent link: https://www.econbiz.de/10011408444
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Excessive herding in the laboratory : the role of intuitive judgments
March, Christoph; Ziegelmeyer, Anthony - 2018
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
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Nudging: an experiment on transparency, controlling for reactance and decision time
Schütze, Tobias; Spitzer, Carsten; Wichardt, Philipp C. - 2023
Is being informed about nudging detrimental to the effect of the nudge? This paper reports results from an experimental study (n = 623) testing the effects of transparency on the effectiveness of a default nudge while controlling for reactance and decision time. Overall, the data show that more...
Persistent link: https://www.econbiz.de/10014323254