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The importance of peers for compliance with norms of fair sharing

Gächter, Simon; Gerhards, Leonie; Nosenzo, Daniele - 2015

A burgeoning literature in economics has started examining the role of social norms in explaining economic behavior. Surprisingly, the vast majority of this literature has studied social norms in asocial decision settings, where individuals are observed to act in isolation from each other. In...

Persistent link: https://www.econbiz.de/10011449225

Behavioral economic phenomena in decision-making for others

Ifcher, John; Zarghamee, Homa S. - 2018

We examine whether biases identified in the behavioral-economics literature apply in decision-making for others (DMfO). We conduct a laboratory experiment in which subjects make decision on behalf of themselves and others in eighteen tasks that measure the following biases: present-bias in time...

Persistent link: https://www.econbiz.de/10011949189

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

Comparing students to workers : the effects of social framing on behavior in distribution games

Carpenter, Jeffrey P. (contributor); … - 2004 - [Elektronische Ressource]

with naturally occurring variation in "social framing." Our participants are students at Middlebury College, non … between games, an effect we attribute to the social framing of the workplace. …

Persistent link: https://www.econbiz.de/10002453274

Political ideology, mood response, and the confirmation bias

Dickinson, David L. - 2022

The confirmation bias is a well-known form of motivated reasoning that serves to protect an individual from cognitive discomfort. Hearing rival viewpoints or belief-opposing information creates cognitive dissonance, and so avoiding exposure to, or discounting the validity of, dissonant...

Persistent link: https://www.econbiz.de/10013286207

Confucianism and preferences : evidence from lab experiments in Taiwan and China

Liu, Elaine M.; Meng, Juanjuan; Wang, Joseph Tao-yi - 2013

This paper investigates how Confucianism affects individual decision making in Taiwan and in China. We found that Chinese subjects in our experiments became less accepting of Confucian values, such that they became significantly more risk loving, less loss averse, and more impatient after being...

Persistent link: https://www.econbiz.de/10010201272

The effect of perceived regional accents on individual economic behavior : a lab experiment on linguistic performance, cognitive ratings and economic decisions

Heblich, Stephan; Lameli, Alfred; Riener, Gerhard - 2014

Does it matter if you speak with a regional accent? Speaking immediately reveals something of one's own social and cultural identity, be it consciously or unconsciously. Perceiving accents involves not only reconstructing such imprints but also augmenting them with particular attitudes and...

Persistent link: https://www.econbiz.de/10010436163

Cognitive abilities and behavioral biases

Oechssler, Joerg (contributor); Roider, Andreas (contributor) - 2008

We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play … a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores … on the Cognitive Reflection Test of Frederick (2005) indeed are correlated with lower incidences of the conjunction …

Persistent link: https://www.econbiz.de/10003716522

Anchoring in financial decision-making : evidence from the field

Jetter, Michael; Walker, Jay K. - 2016

This paper analyzes 12,596 wagering decisions of 6,064 contestants in the US game show Jeopardy!, focusing on the anchoring phenomenon in financial decision-making. We find that contestants anchor heavily on the initial dollar value of a clue in their wagering decision, even though there exists...

Persistent link: https://www.econbiz.de/10011526727

Testing the advantages of conscious vs. unconscious thought for complex decisions in a distraction free paradigm

McElroy, Todd; Dickinson, David L. - 2016

In this study we test predictions from Unconscious Thought Theory (UTT) that unconscious thought will lead to better …

Persistent link: https://www.econbiz.de/10011580853