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Show what you risk - norms for risk taking
Grimm, Stefan - 2018
Most economic decisions are embedded in a specific social context. In many such contexts, individual choices are influenced by their observability due to underlying social norms and social image concerns. This study investigates the impact of choices being observed, compared to anonymity of...
Persistent link: https://www.econbiz.de/10011930435
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Decision-making traits and states as determinants of risky choices
Gärtner, Manja; Tinghög, Gustav; Västfjäll, Daniel - 2019
We test the effects of dual processing differences in both individual traits and decision states on risk taking. In an experiment with a large representative sample (N = 1,832), we vary whether risky choices are induced to be based on either emotion or reason, while simultaneously measuring...
Persistent link: https://www.econbiz.de/10012118611
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Learning from unrealized versus realized prices
Ngangoue, M. Kathleen; Weizsäcker, Georg - 2018
Our experiments investigate the extent to which traders learn from the price, differentiating between situations where orders are submitted before versus after the price has realized. In simultaneous markets with bids that are conditional on the price, traders neglect the information conveyed by...
Persistent link: https://www.econbiz.de/10011897066
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Risk, time pressure, and selection effects
Kocher, Martin; Schindler, David; Trautmann, Stefan T.; … - 2018
Time pressure is a central aspect of economic decision making nowadays. It is therefore natural to ask how time pressure affects decisions, and how to detect individual heterogeneity in the ability to successfully cope with time pressure. In the context of risky decisions, we ask whether a...
Persistent link: https://www.econbiz.de/10011899690
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An experimental test of the global-game selection in coordination games with asymmetric players
Heinemann, Frank - 2023
In symmetric binary-choice coordination games, the global-game selection (GGS) has been proven to predict a high proportion of observed choices correctly. In these games, the GGS is identical to the best response to Laplacian beliefs about the fraction of players choosing either action. This...
Persistent link: https://www.econbiz.de/10014476806
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Ruled by robots : preference for algorithmic decision makers and perceptions of their choices
Chugunova, Marina; Luhan, Wolfgang J. - 2023
As technology-assisted decision-making is becoming more widespread, it is important to understand how the algorithmic nature of the decisionmaker affects how decisions are perceived by the affected people. We use a laboratory experiment to study the preference for human or algorithmic decision...
Persistent link: https://www.econbiz.de/10014495065
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Quality certifications for nonprofits, charitable giving, an d donor's trust: experimental evidence
Adena, Maja; Alizade, Jeyhun; Bohner, Frauke; Harke, Julian - 2018
, participants presented with a quality certificate chose higher donations by around 10% and reported higher trust towards the same …
Persistent link: https://www.econbiz.de/10011863397
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Quality certifications for nonprofits, charitable giving, and donor's trust : experimental evidence
Adena, Maja; Alizade, Jeyhun; Bohner, Frauke; Harke, Julian - 2017
certificate increases trust in the nonprofit organization. There is some evi-dence pointing to the causal role of trust for …
Persistent link: https://www.econbiz.de/10011639053
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Personality traits across the life cycle : disentangling age, period, and cohort effects
Fitzenberger, Bernd; Mena, Gary; Nimczik, Jan Sebastian; … - 2019
Despite the importance for socio-economic outcomes, there is an ongoing debate about the stability of personality … traits over the life cycle. By disentangling age, period and cohort influences on personality traits, this paper adds to the … effects in almost all personality traits. Our estimates also document that for different cohorts, the evolution of personality …
Persistent link: https://www.econbiz.de/10012139018
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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household data from the United States. We find countercyclical...
Persistent link: https://www.econbiz.de/10012215285