We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play … a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores … on the Cognitive Reflection Test of Frederick (2005) indeed are correlated with lower incidences of the conjunction …

This paper experimentally investigates whether risk-averse individuals punish less if the outcome of punishment is …’s payoff with a 50% probability by 1 Euro and with a 50% probability by 3 Euros. We find that in all cases the risk …

of aging on decisions in two domains of uncertainty: risk and ambiguity. For this purpose, a group of young and older … adults played a card game which was composed of risky and ambiguous conditions. In the risk condition, participants knew the …

-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative …

negotiation situations. We report the results of a laboratory experiment that was designed to isolate the effect of the curse of …

experiment with more than 6000 subjects, including a subsample of 267 consultants from an international consulting firm. We also …

unknown probabilities, i.e., they are ambiguity averse. In an experiment, we examine subjects’ choices when there is an …

settings. We first test whether scores on the Big Five are related to performance in our experiment, and second how this is …