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The unification bonus (malus) in postwall Eastern Germany
Beblo, Miriam - 2001
bonus is defined as the discounted value of the difference between a person's actual income and his or her counterfactual … real income stream forecast for a hypothetical continuation of economic life in a static GDR. The two main issues tackled … centralized to a market economy and the estimation of plausible counterfactual income streams. Our central result is that 19 …
Persistent link: https://www.econbiz.de/10013428413
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Multilateral Non-Cooperative Bargaining in a General Utility Space
Vartiainen, Hannu; Kultti, Klaus - 2007
We consider an n-player bargaining problem where the utility possibility set is compact, convex, and stricly comprehensive. We show that a stationary subgame perfect Nash equilibrium exists, and that, if the Pareto surface is differentiable, all such equilibria converge to the Nash bargaining...
Persistent link: https://www.econbiz.de/10012502973
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Who knows it is a game? : on rule understanding, strategic awareness and cognitive ability
Fehr, Dietmar; Huck, Steffen - 2013
We introduce the notion of strategic awareness in experimental games which captures the idea that subjects realize they are playing a game and thus have to form beliefs about others' actions in order to play well. The concept differs from both, rule understanding and rationality. We then turn to...
Persistent link: https://www.econbiz.de/10009768997
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Who knows it is a game? : on strategic awareness and cognitive ability
Fehr, Dietmar; Huck, Steffen - 2014 - July 2013, revised November 2014
We introduce the notion of strategic awareness in experimental games which captures the idea that subjects realize they are playing a game and thus have to form beliefs about others’ actions. The concept differs from both, rule understanding and rationality. We then turn to experimental...
Persistent link: https://www.econbiz.de/10011297725
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Speed, quality, and the optimal timing of complex decisions : field evidence
Strittmatter, Anthony; Sunde, Uwe; Zēgners, Dainis - 2022
This paper presents an empirical investigation of the relation between decision speed and decision quality for a real-world setting of cognitively-demanding decisions in which the timing of decisions is endogenous: professional chess. Move-by-move data provide exceptionally detailed and precise...
Persistent link: https://www.econbiz.de/10013191595
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Decisions and performance under bounded rationality : a computational benchmarking approach
Zēgners, Dainis; Sunde, Uwe; Strittmatter, Anthony - 2020
This paper presents a novel approach to analyze human decision-making that involves comparing the behavior of professional chess players relative to a computational benchmark of cognitively bounded rationality. This benchmark is constructed using algorithms of modern chess engines and allows...
Persistent link: https://www.econbiz.de/10012499843
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On the causes and consequences of deviations from rational behavior
Zēgners, Dainis; Sunde, Uwe; Strittmatter, Anthony - 2020
This paper presents novel evidence for the prevalence of deviations from rational behavior in human decision making - and for the corresponding causes and consequences. The analysis is based on move-by-move data from chess tournaments and an identification strategy that compares behavior of...
Persistent link: https://www.econbiz.de/10012237567
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Cooperation in international environmental negotiations due to a preference for equity
Lange, Andreas; Vogt, Carla - 2001
This paper demonstrates that cooperation in international environmental negotiations can be explained by preferences for equity. Within a N-country prisoner's dilemma in which agents can either cooperate or defect, in addition to the standard non-cooperative equilibrium, cooperation of a large...
Persistent link: https://www.econbiz.de/10013428398
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Compiling a harmonized database from Germany's 1978 to 2003 sample surveys of income and expenditure
Bönke, Timm; Schröder, Carsten; Werdt, Clive - 2010
We outline a procedure for combining six cross-sections of the German Sample Survey of Income and Expenditure, and … properties. -- German Sample Survey of Income and Expenditure ; annual vs. trimestrial data …
Persistent link: https://www.econbiz.de/10003952561
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How do households allocate their assets? : stylized facts from the eurosystem household finance and consumption survey
Arrondel, Luc; Bartiloro, Laura; Fessler, Primin; … - 2014
holds risky assets. The ownership rates of all asset categories generally increase with wealth (and income). The …
Persistent link: https://www.econbiz.de/10010384151