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Existing theoretical and experimental studies have established that unanimity is a poor decision rule for promoting … responsibility for the committee's decision is equally distributed across all agents. We test our predictions in a controlled … laboratory experiment. As predicted, if unanimity is required, subjects are more truthful, respond more to others' messages, and …
Persistent link: https://www.econbiz.de/10011696383
described by the economic theory. We determine a significant influence of the labeling and the earmarking of taxes. We can show …
Persistent link: https://www.econbiz.de/10003962952
This paper presents a novel approach to analyze human decision-making that involves comparing the behavior of …
Persistent link: https://www.econbiz.de/10012499843
remedy for these shortcomings by developing a dynamical model of procedurally rational decision making. The basic idea of the … model is a feedback loop between experienced utility, decision utility, and activities. In applications of the model, I show …
Persistent link: https://www.econbiz.de/10014480143
In many economic contexts, an elusive variable of interest is the agent's belief about relevant events, e.g. about other agents' behavior. A growing number of surveys and experiments ask participants to state beliefs explicitly but little is known about the causal relation between beliefs and...
Persistent link: https://www.econbiz.de/10009583740
Informal exchange of information among competitors has been well-documented in a variety of industries, and one's expectation of reciprocity shown to be a key determinant. We use an indeterminate horizon centipede game to establish a feedback loop in the laboratory and show that an individual's...
Persistent link: https://www.econbiz.de/10012055632
Persistent link: https://www.econbiz.de/10000975181
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There are many important decision problems where learning through experimentation is costly or impossible. In these … degree of bias due to selection neglect increases when other decision makers become more informed, or become more rational …
Persistent link: https://www.econbiz.de/10011982107
Informational Responsiveness is an important property of preference elicitation tools. We then test our property in an experiment in …
Persistent link: https://www.econbiz.de/10014323569