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Artificial Intelligence and the economics of decision-making
Naudé, Wim - 2023
Artificial Intelligence (AI) scientists are challenged to create intelligent, autonomous agents that can make rational decisions. In this challenge, they confront two questions: what decision theory to follow and how to implement it in AI systems. This paper provides answers to these questions...
Persistent link: https://www.econbiz.de/10014230173
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Does self-control depletion affect risk attitudes?
Gerhardt, Holger; Schildberg-Hörisch, Hannah; … - 2015
within a particular range. We test the hypotheses in a lab experiment with a large number of subjects (N = 308), using a well …
Persistent link: https://www.econbiz.de/10011449223
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Narrow bracketing and dominated choices
Rabin, Matthew (contributor); Weizsäcker, Georg (contributor) - 2007
An experiment by Tversky and Kahneman (1981) illustrates that people's tendency to evaluate risky decisions separately …. The theory is accompanied by both a real-stakes laboratory experiment and a large-sample survey from the general U ….S. population. Replicating Tversky and Kahneman's original experiment where decisionmakers with prototypical prospect …
Persistent link: https://www.econbiz.de/10003561617
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Framing effects and impatience : evidence from a large scale experiment
Heijden, Eline C. van der; Klein, Tobias J.; Müller, … - 2012
. -- framing ; choice under risk ; time preference ; experiment …
Persistent link: https://www.econbiz.de/10009681527
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The impact of risk perception and risk attitudes on corrupt behavior : evidence from a petty corruption experiment
Djawadi, Behnud Mir; Fahr, René - 2013
abstract from confounding effects of reciprocal behavior, we design an experiment where a public official decides upon … early periods. Risk attitudes measured with a subsequent lottery-choice experiment do not correlate with the behavior … observed in the corruption experiment. We explain our findings by a systematic underestimation of the overall probability of …
Persistent link: https://www.econbiz.de/10009740342
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The likelihood of divorce and the riskiness of financial decisions
Stark, Oded; Szczygielski, Krzysztof - 2019
We link causally the riskiness of men's management of their finances with the probability of their experiencing a divorce. Our point of departure is that when comparing single men to married men, the former manage their finances in a more aggressive (that is, riskier) manner. Assuming that...
Persistent link: https://www.econbiz.de/10012059447
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Asset integration, risk taking and loss aversion in the laboratory
Morrison, William G.; Oxoby, Robert J. - 2019
We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion …
Persistent link: https://www.econbiz.de/10011997618
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Beliefs and utility : experimental evidence on preferences for information
Falk, Armin; Zimmermann, Florian - 2016
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
Persistent link: https://www.econbiz.de/10011528156
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A parametric analysis of prospect theory's functionals for the general population
Booij, Adam S.; Praag, Bernard M. S. van; Kuilen, Gijs … - 2009
This paper presents the results of an experiment that completely measures the utility function and probability …
Persistent link: https://www.econbiz.de/10003831223
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On the stability of risk preferences: measurement matters
Adema, Joop; Nikolka, Till; Poutvaara, Panu; Sunde, Uwe - 2021
We exploit the unique design of a repeated survey experiment among students in four countries to explore the stability …
Persistent link: https://www.econbiz.de/10012648226