the experiment. Hence for so-called induced budget experiments the Generalized Axiom of Revealed Preference is a necessary … and sufficient condition for utility maximization in general, not just in the lab. Lab experiments are therefore a valid …

whether the wealth distribution choice exhibits equity or efficiency preferring tastes. We report experiments using a within …

This paper provides an overview of the work of Herbert Simon and his ideas about rational decision making. By his own …’s research is how human beings organize themselves in different structures of distributed decision making in order to achieve a … view on rational decision making in economics and other social sciences. …

This paper reports results from a laboratory experiment studying the role of asymmetries, both in payoffs and … accommodating in their acceptance decision than predicted; b) subjects ́change in behavior in reaction to asymmetric recognition …

We conduct an experiment to test whether the size of a loss and the time in a losing position affect investors … performance, together influence the decision to hold on to or to capitulate on an investment. We study the relative contribution … decision to capitulate an investment, however, only depends directly on the expectation about the stock’s future performance …