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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
Socio-economic criteria for climate projects have been used in analysing the value of the climate benefit of a reduction in CO2. These reports are optimistic, yet CCS demonstration plants are not implemented as expected. Little attention has been devoted to profitability assessments based on...
Persistent link: https://www.econbiz.de/10010223461
There is a planning gap for CCS projects in Europe. CCS demonstration plants are not implemented as expected. This fact is at odds with optimistic valuation reports that apply socio-economic valuation criteria for climate projects. However, CCS plants are in most cases to be implemented by...
Persistent link: https://www.econbiz.de/10010393639
This paper presents a choice model based on a model for the behavior of brain cells that is based on neurological … findings. The paper shows that it is possible to define choice as the result of a series of interconnected cellular processes … 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
intuitive decision while others allow for extensive reflection time. To be able to pursue a deceptive strategy, however, a … dimension for dishonest decision-making and for the cognition process of the chance to deceive. We conduct a laboratory … opportunity and the conscious decision to misreport, reveals that more reflection time increases awareness of the misreporting …
Persistent link: https://www.econbiz.de/10011723505
ordinarily measured by observing non-choice data, such as response time. In this paper we introduce a method for inferring ….g. gender, race, sugar) have a stronger effect when the attribute is mixed with others, and so the decision becomes less …
Persistent link: https://www.econbiz.de/10011415271
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
We develop a general framework to study contests, containing the well-known models of Tullock (1980) and Lazear & Rosen (1981) as special cases. The contest outcome depends on players' effort and skill, the latter being subject to symmetric uncertainty. The model is tractable, because a...
Persistent link: https://www.econbiz.de/10012138813
We develop a general framework to study contests, containing the well-known models of Tullock (1980) and Lazear & Rosen (1981) as special cases. The contest outcome depends on players' effort and skill, the latter being subject to symmetric uncertainty. The model is tractable, because a...
Persistent link: https://www.econbiz.de/10012434408
Persistent link: https://www.econbiz.de/10003623930