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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
We use natural experiments plausibly exogenous, anticipated increases in the piece rate to study how effort responds to incentives. Our first finding, like some previous studies, lends little support to the view that incentives increase effort: raising the piece rate has zero effect on total...
Persistent link: https://www.econbiz.de/10003489059
from two studies and three distinct decision tasks, we present data on over 1100 participants documenting the confirmation …
Persistent link: https://www.econbiz.de/10013286207
Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...
Persistent link: https://www.econbiz.de/10013191643
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
Response times are a simple low-cost indicator of the process of reasoning in strategic games (Rubinstein, 2007; Rubinstein, 2016). We leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on...
Persistent link: https://www.econbiz.de/10011607565
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
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)...
Persistent link: https://www.econbiz.de/10003716522
their interactions with others. In this paper, we emphasize creativity as a key skill that is essential to open …'s creativity measured in childhood and their individual attributes and life outcomes. We find that childhood creativity predicts … experience is important. We combine insights from our findings with evidence from psychology to propose creativity …
Persistent link: https://www.econbiz.de/10012549190
This study provides novel evidence on the isolated effect of carbon dioxide on cognition, economic decision-making, and … the physiological response in healthy office workers. The experiment took place in an air-tight respiration chamber fully … without suffering significant cognitive decline, changes in decision-making or showing any physiological response. …
Persistent link: https://www.econbiz.de/10014535303