Showing 1 - 10 of 193
We conduct an incentivized experiment on a nationally representative US sample (N=708) to test whether people prefer to avoid ambiguity even when it means choosing dominated options. In contrast to the literature, we find that 55% of subjects prefer a risky act to an ambiguous act that always...
Persistent link: https://www.econbiz.de/10014426529
We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems that can be computed for any standard dataset. These indices capture the predicted error rate in identifying the lottery with the highest expected value, where the predictions are...
Persistent link: https://www.econbiz.de/10014340230
Under regret theory, decision-makers derive utility both from the outcome of their chosen action and the counterfactual …
Persistent link: https://www.econbiz.de/10011485182
are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …
Persistent link: https://www.econbiz.de/10011557745
when a decision is complex, they implicitly treat different time delays to some degree alike. By experimentally measuring … when the decision environment is more complex. Third, cognitive uncertainty matters for choice architecture: people who are …
Persistent link: https://www.econbiz.de/10012697938
This paper investigates how migration and location choice decisions depend on a large set of location characteristics, with particular focus on measuring the importance and nature of the non-monetary cost of moving. We employ a stated-preference approach to elicit respondents' choice...
Persistent link: https://www.econbiz.de/10012171797
We study the influence of reason and intuition on decision making over time. Facing a sequence of similar problems …, agents can either decide rationally according to expected utility theory or intuitively according to case-based decision …
Persistent link: https://www.econbiz.de/10010464891
Most studies of gender discrimination consider how male versus female candidates are assessed given otherwise identical information about them. But, in many settings of interest, evaluators have a choice about how much information to acquire about a candidate before making a final assessment. We...
Persistent link: https://www.econbiz.de/10014505373
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
In prosocial decisions, decision-makers are inherently uncertain about how their decisions impact others’ utility – we …
Persistent link: https://www.econbiz.de/10014576953