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 …

We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them … individually and keep the decision-making power. Our model predicts a trade-off between information acquisition and information …

decision making in complex decision tasks relative to conscious thought. Different from prior work testing this prediction, we … processing in complex decision making. …

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 preferences, reflection effect in risk preferences, ambiguity …

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 … consideration of procedural rationality, overcoming computational difficulties, and understanding decision-making in disequilibrium …

economics and public policy. We conducted a laboratory experiment to investigate the effects of stress on financial decision … of risk-aversion, and substantially lowers the effort individuals make to learn about financial decisions. …

affects the behavior of committee members and the decision-making accuracy. Our theoretical analysis generates two major …

although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …