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Do measures of risk attitude in the laboratory predict behavior under risk in and outside of the laboratory?
Charness, Gary; Garcia, Thomas; Offerman, Theo; … - 2019
We consider the external validity of laboratory measures of risk attitude. Based on a large-scale experiment using a …
Persistent link: https://www.econbiz.de/10012022694
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The role of bounded rationality and imperfect information in subgame perfect implementation : an empirical investigation
Aghion, Philippe; Fehr, Ernst; Holden, Richard T.; … - 2015
In this paper we conduct a laboratory experiment to test the extent to which Moore and Repullo's subgame perfect … mechanism should - in theory - provide incentives for truth-telling, many buyers in fact believe that they can increase their …
Persistent link: https://www.econbiz.de/10010510004
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Relational contracts and the nature of market interactions
Brown, Martin (contributor); Falk, Armin (contributor);  … - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001800150
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The economics of credence goods : on the role of liability, verifiability, reputation and competition
Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009
inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … higher efficiency as long as liability is violated. -- Credence goods ; experiment ; liability ; verifiability ; reputation …
Persistent link: https://www.econbiz.de/10003814341
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Reputation vs selection effects in markets with informational asymmetries
Alysandratos, Theodore; Geōrganas, Sōtērēs; Sutter, … - 2022
trustworthy sellers into markets with such mechanisms or because of reputational concerns of sellers. In our field experiment, we …
Persistent link: https://www.econbiz.de/10013448173
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Why pay taxes when no one else does?
Epstein, Gil S.; Gang, Ira N. - 2009
present a model which incorporates elements from the theory of information cascades with the standard model of tax evasion and …
Persistent link: https://www.econbiz.de/10003832265
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Reverse Bayesianism: revising beliefs in light of unforeseen events
Becker, Christoph; Melkonyan, Tigran A.; Proto, Eugenio; … - 2020
Bayesian Updating is the dominant theory of learning in economics. The theory is silent about how individuals react to …
Persistent link: https://www.econbiz.de/10012306040
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Navigating ambiguity : imprecise probabilities and the updating of disease risk beliefs
Kerwin, Jason; Pandey, Divya - 2023
Probabilistic risk beliefs are key drivers of economic and health decisions, but people are not always certain about their beliefs. We study these "imprecise probabilities", also known as ambiguous beliefs. We show that imprecision is measurable separately from the levels of risk beliefs. People...
Persistent link: https://www.econbiz.de/10014390526
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Negative externalities and equilibrium existence in competitive markets with adverse selection
Siemens, Ferdinand von; Kosfeld, Michael - 2009
Rothschild and Stiglitz (1976) show that there need not exist a competitive equilibrium in markets with adverse selection. Building on their framework we demonstrate that externalities between agents - an agent's utility upon accepting a contract depends on the average type attracted by the...
Persistent link: https://www.econbiz.de/10003831629
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Directed search in the housing market
Albrecht, James W.; Gautier, Pieter; Vroman, Susan B. - 2009
In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the way houses are bought and sold in the United States. Our model is consistent with the observation that houses are sometimes sold above, sometimes below and sometimes at the...
Persistent link: https://www.econbiz.de/10003932400