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If choices depend on the decision maker's mood, is the attempt to derive any consistency in choice doomed? In this …
Persistent link: https://www.econbiz.de/10003976547
policies that encourage active decision-making. In an experiment designed to study passive behavior, we document three main …
Persistent link: https://www.econbiz.de/10012006101
(e.g., related to an individual's altruism, fairness perceptions, concerns for efficiency, and political views). By …
Persistent link: https://www.econbiz.de/10014442013
modelling of random components of decision making is crucial to establishing the long supposed but empirically elusive link …
Persistent link: https://www.econbiz.de/10012228205
Assuming that an individual's rank in the wealth distribution is the only factor determining the individual's wellbeing, we analyze the individual's risk preferences in relation to gaining or losing rank, rather than the individual’s risk preferences towards gaining or losing absolute wealth....
Persistent link: https://www.econbiz.de/10012119128
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 and makes three contributions. The first is to discuss how economic decision … theory - Expected Utility Theory (EUT) - can help AI systems with utility functions to deal with the problem of instrumental …
Persistent link: https://www.econbiz.de/10014230173
Redistribution is an inevitable feature of collective pension schemes and economic experiments have revealed that most people have a preference for redistribution that is not merely inspired by self-interest. Interestingly, little is known on how these preferences interact with preferences for...
Persistent link: https://www.econbiz.de/10008780004
environment. In a fidelity family environment, instead, kinship can occur in equilibrium and, when it does, it is efficiency …
Persistent link: https://www.econbiz.de/10003926735
We introduce and study the problem of manipulation of choice behavior. In a class of two-stage models of decision …
Persistent link: https://www.econbiz.de/10009312203
Resit exams - extra opportunities to do an exam in the same academic year - are widely prevalent in European higher education, but uncommon in the US. I present a simple theoretical model to compare rational student behavior in the case of only one exam opportunity versus the case of two exam...
Persistent link: https://www.econbiz.de/10009620949