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the low carbon-emitting sector, and (ii) reduce real investment and the capital stock in the highly carbon-emitting sector …, while real investment in the sector with low carbon emissions tends to fare better. To apply the theoretical predictions to … low carbon emissions, and (ii) substantial investment reallocation takes place, in particular from the manufacturing …
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In this paper we study the effects that loss contracts - prepayments that can be clawbacked later - have on group coordination when there is strategic uncertainty. We compare the choices made by experimental subjects in a minimum effort game. In control sessions, incentives are formulated as a...
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theory: the concept of empathy. Specifically, we illustrate how some insights from the psychological literature on empathy …In diesem Artikel diskutieren wir das Konzept der Empathie. Dieses konnte in der ökonomischen Theorie nie wirklich Fuß …
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Agents with reciprocal preferences prefer to be matched to a partner who also likes to collaborate with them. In this paper, we introduce and formalize reciprocal preferences, apply them to matching markets, and analyze the implications for mechanism design. Formally, the preferences of an agent...
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between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by … incorrect identification strategies. We conduct an experiment to investigate the factors that drive violations of consistency …
Persistent link: https://www.econbiz.de/10014323610
We propose a class of multiple-prior representations of preferences under ambiguity where the belief the decision-maker (DM) uses to evaluate an uncertain prospect is the outcome of a game played by two conflicting forces, Pessimism and Optimism. The model does not restrict the sign of the DM's...
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in this domain. In contrast, the average participant in our experiment is strikingly close to Bayesian in her belief …
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