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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 no rational reason to do so. More than half of all wagers occur … manifests itself among college students. Overall, our findings suggest anchoring plays a substantial role in financial decision …
Persistent link: https://www.econbiz.de/10011526727
decision making in complex decision tasks relative to conscious thought. Different from prior work testing this prediction, we … processing in complex decision making. …
Persistent link: https://www.econbiz.de/10011580853
We present a framework that incorporates both moral motivations and fairness considerations into utility. The main idea is that individuals face a preference trade-off between their material individual interest and their desire to follow moral norms. In our model, we assume that moral motivation...
Persistent link: https://www.econbiz.de/10012138532
suggesting the confirmation bias may be unlike other decision biases - this bias may thrive when the decision maker is more is …
Persistent link: https://www.econbiz.de/10012213878
than Italian-speaking children to delay gratification in an intertemporal choice experiment. The difference remains …
Persistent link: https://www.econbiz.de/10011346563
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
This paper investigates how Confucianism affects individual decision making in Taiwan and in China. We found that …
Persistent link: https://www.econbiz.de/10010201272
regional accents? This paper reports a laboratory experiment where we address this question. Participants in our experiment …
Persistent link: https://www.econbiz.de/10010436163
Recent examinations into the cognitive underpinnings of ethical decision making has focused on understanding whether … honesty is more likely to result from deliberative or unconscious decision processes. We randomly assigned participants to a …
Persistent link: https://www.econbiz.de/10012588918
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 … aversion, decoy effect, anchoring bias, endowment effect, and identifiable-victim bias. In our experiment, DMfO is DMfO …
Persistent link: https://www.econbiz.de/10011949189