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Still in search of the sunk cost bias
Negrini, Marcello; Riedl, Arno; Wibral, Matthias - 2020
psychological channels underlying such a bias is scarce. We present a laboratory experiment designed to investigate the sunk cost …Evidence from hypothetical scenarios strongly suggests the existence of a sunk cost bias, the tendency to ‘throw good … bias and to test some prominent psychological mechanisms. Inspired by the hypothetical scenarios, we use a two …
Persistent link: https://www.econbiz.de/10012299784
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The double dividend of attention-releasing policies
Altmann, Steffen; Grunewald, Andreas; Radbruch, Jonas - 2024
the implementation of high-quality defaults. Based on a laboratory experiment featuring a dual-task paradigm, we …
Persistent link: https://www.econbiz.de/10014517962
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Self-confidence and strategic behavior
Charness, Gary; Rustichini, Aldo; Ven, Jeroen van de - 2013
We test experimentally an explanation of over and under confidence as motivated by (perhaps unconscious) strategic concerns, and find compelling evidence supporting this hypothesis in the behavior of participants who send and respond to others ́statements of confidence about how well they have...
Persistent link: https://www.econbiz.de/10010223063
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Concentration bias in intertemporal choice
Dertwinkel-Kalt, Markus; Gerhardt, Holger; Riener, Gerhard - 2021
disadvantages are dispersed over numerous periods. We provide novel experimental evidence for "concentration bias", the tendency to … days in exchange for a bonus that is concentrated in time: concentration bias increases subjects' willingness to work by 22 ….4% beyond what standard discounting models could account for. In additional conditions and a complementary experiment involving …
Persistent link: https://www.econbiz.de/10012500576
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Beliefs as a means of self-control? : evidence from a dynamic student survey
Bönisch, Felix; König, Tobias; … - 2024
We repeatedly elicit beliefs about the returns to study effort, in a large university course. A behavioral model of quasi-hyperbolic discounting and malleable beliefs predicts that the dynamics of beliefs mirrors the importance of exerting self-control, such that believed returns increase as the...
Persistent link: https://www.econbiz.de/10014490754
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On the persistence of strategic sophistication
Georganas, Sotiris; Healy, Paul J.; Weber, Roberto A. - 2014
We examine whether the "Level-k" model of strategic behavior generates reliable cross-game predictions within an individual. We find no correlation in subjects' estimated levels of reasoning across two families of games. Furthermore, estimating a higher level for Ann than Bob in one family of...
Persistent link: https://www.econbiz.de/10010249635
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Cognitive imprecision and strategic behavior
Frydman, Cary; Nunnari, Salvatore - 2021
We propose and experimentally test a theory of strategic behavior in which players are cognitively imprecise and perceive a fundamental parameter with noise. We focus on 2 x 2 coordination games, which generate multiple equilibria when perception is precise. When adding a small amount of...
Persistent link: https://www.econbiz.de/10012698826
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Behavioral New Keynesian models : learning vs. cognitive discounting
Meggiorini, Greta; Milani, Fabio - 2021
This paper estimates a New Keynesian model with new and old behavioral elements. Agents in the model exhibit cognitive discounting, or myopia: they discount variables far into the future at higher rates than typically implied in the benchmark model. We investigate the model under different...
Persistent link: https://www.econbiz.de/10012509319
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Cognitive flexibility or moral commitment? : evidence of anticipated belief distortion
Saccardo, Silvia; Serra-Garcia, Marta - 2020
Do people anticipate the conditions that enable them to manipulate their beliefs when confronted with unpleasant information? We investigate whether individuals seek out the "cognitive flexibility" needed to distort beliefs in self-serving ways, or instead attempt to constrain it, committing to...
Persistent link: https://www.econbiz.de/10012271757
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Excessive herding in the laboratory : the role of intuitive judgments
March, Christoph; Ziegelmeyer, Anthony - 2018
-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in …
Persistent link: https://www.econbiz.de/10011789104