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Pure rank preferences and variation in risk-taking behavior
Stark, Oded; Budziński, Wiktor; Jakubek, Marcin - 2019
incorporating (the level of) absolute wealth in the individual's utility function. …
Persistent link: https://www.econbiz.de/10012119128
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Splitting Tournaments
Leuven, Edwin; Oosterbeek, Hessel; Klaauw, Bas van der - 2010
In this paper we investigate how heterogeneous agents choose among tournaments with different prizes. We show that if the number of agents is sufficiently small, multiple equilibria can arise. Depending on how the prize money is split over the tournaments, these may include, for example, a...
Persistent link: https://www.econbiz.de/10009007838
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Strategic complexity and the value of thinking
Gill, David; Prowse, Victoria - 2022
Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...
Persistent link: https://www.econbiz.de/10013191643
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Using response times to measure strategic complexity and the value of thinking in games
Gill, David; Prowse, Victoria L. - 2017
Response times are a simple low-cost indicator of the process of reasoning in strategic games (Rubinstein, 2007; Rubinstein, 2016). We leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on...
Persistent link: https://www.econbiz.de/10011607565
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How cognitive skills affect strategic behavior : cognitive ability, fluid intelligence and judgment
Gill, David; Knepper, Zachary; Prowse, Victoria; Zhou, Junya - 2024
We explore the influence of cognitive ability and judgment on strategic behavior in the beauty contest game (where the Nash equilibrium action is zero). Using the level-k model of bounded rationality, cognitive ability and judgment both predict higher level strategic thinking. However,...
Persistent link: https://www.econbiz.de/10014584425
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Strategic sophistication of individuals and teams in experimental normal-form games
Sutter, Matthias; Czermak, Simon; Feri, Francesco - 2010
. Besides making choices, decision makers have to state their first- and second-order beliefs. We find that teams play the Nash … only 40% for individuals. -- Strategic sophistication ; beliefs ; experiment ; team decision making ; individual decision …
Persistent link: https://www.econbiz.de/10003938152
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Strategic sophistication of adolescents : evidence from experimental normal-form games
Czermak, Simon; Feri, Francesco; Glätzle-Rützler, Daniela - 2010
We examine the strategic sophistication of adolescents, aged 10 to 17 years, in experimental normal-form games. Besides making choices, subjects have to state their first- and second-order beliefs. We find that choices are more often a best reply to beliefs if any player has a dominant strategy...
Persistent link: https://www.econbiz.de/10003987136
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Delegation to a group
Fehrler, Sebastian; Janas, Moritz - 2021
We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them … individually and keep the decision-making power. Our model predicts a trade-off between information acquisition and information … confirm the predicted trade-off, despite some deviations from theory on the individual level. …
Persistent link: https://www.econbiz.de/10012549435
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Incentives for cooperation in teams: sociality meets decision rights
Butz, Britta; Guillén, Pablo; Harbring, Christine - 2021
We investigate the effect of a donation incentive tied to contributions to a public good when group members can decide on the size of the donation to be made. An up to 20 % donation of the public good was implemented either exogenously or endogenously by group members. In the Vote treatment,...
Persistent link: https://www.econbiz.de/10012494092
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Public goods, transferable utility and divorce laws
Chiappori, Pierre-André (contributor);  … - 2007
, utility must be transferable both within marriage and upon divorce, and the marginal rate of substitution between public and …
Persistent link: https://www.econbiz.de/10003460691