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Coupled lotteries : a new method to analyze inequality aversion
Koch, Melanie; Menkhoff, Lukas; Schmidt, Ulrich - 2019
We develop and implement a new measure for inequality aversion: two peers are endowed with identical binary lotteries and the only choice they make is whether they want to play out the lotteries independently or with perfect positive correlation (coupling). Coupling has no other e ect than...
Persistent link: https://www.econbiz.de/10012108631
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Belief updating: does the 'good-news, bad-news' asymmetry extend to purely financial domains?
Barron, Kai - 2016
Bayes' statistical rule remains the status quo for modeling belief updating in both normative and descriptive models of behavior under uncertainty. Recent research has questioned the use of Bayes' rule in descriptive models of behavior, presenting evidence that people overweight 'good news'...
Persistent link: https://www.econbiz.de/10011542204
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Decision making under uncertainty : an experimental study in market settings
Echenique, Federico; Imai, Taisuke; Saito, Kota - 2019
We design and implement a novel experimental test of subjective expected utility theory and its generalizations. Our … function, but not with subjective utility theory. The theory is tested by gauging how subjects respond to price changes. A … majority of subjects respond to price changes in the direction predicted by the theory, but not to a degree that makes them …
Persistent link: https://www.econbiz.de/10012126236
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Learning from unrealized versus realized prices
Ngangoue, M. Kathleen; Weizsäcker, Georg - 2018
benchmark theory. The difference's robustness to a number of variations provides insights about the drivers of this effect. …
Persistent link: https://www.econbiz.de/10011897066
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How lotteries in school choice help to level the playing field
Basteck, Christian; Klaus, Bettina; Kübler, Dorothea - 2018
students, and the student composition at schools, using theory and experiments. We find that the lottery quota strengthens …
Persistent link: https://www.econbiz.de/10011905240
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Organizations, diffused pivotality and immoral outcomes
Falk, Armin; Szech, Nora - 2013
This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for money or to save mice. We compare a Baseline treatment where subjects are fully pivotal to a Diffused-Pivotality treatment where subjects simultaneously choose in groups of...
Persistent link: https://www.econbiz.de/10009763127
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Coordination under loss contracts
Ahrens, Steffen; Bitter, Lea; Bosch-Rosa, Ciril - 2020
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...
Persistent link: https://www.econbiz.de/10012285502
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Student performance and loss aversion
Karle, Heiko; Engelmann, Dirk; Peitz, Martin - 2019 - Version: August 21, 2019
In this paper, we match data on student performance in a multiple-choice exam with data on student risk preferences that are extracted from a classroom experiment. We find that more-loss-averse students leave more questions unanswered and perform worse in the multiple-choice exam when giving an...
Persistent link: https://www.econbiz.de/10012064831
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Time pressure and regret in sequential search
Klimm, Felix; Kocher, Martin; Opitz, Timm; Schudy, Simeon - 2022
interaction on search behavior in a pre-registered, theory-based, and well-powered experiment. Empirically, we and that …
Persistent link: https://www.econbiz.de/10014476728
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Boolean representations of preferences under ambiguity
Frick, Mira; Iijima, Ryota; Le Yaouanq, Yves - 2019
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...
Persistent link: https://www.econbiz.de/10012064758