Experimental and empirical evidence shows that the utility an individual derives from a certain state depends on the … outcomes of either the individual herself or her reference group. The experiment described in this paper suggests that, in … reference states - and hence utility - can relatively easily be influenced without changing people’s outcomes, e.g., through …

Experimental and empirical evidence shows that the utility an individual derives from a certain state depends on the … outcomes of either the individual herself or her reference group. The experiment described in this paper suggests that, in … reference states - and hence utility - can relatively easily be influenced without changing people's outcomes, e.g., through …

Experimental and empirical evidence shows that the utility an individual derives from a certain state depends on the … outcomes of either the individual herself or her reference group. The experiment described in this paper suggests that, in … reference states - and hence utility - can relatively easily be influenced without changing people’s outcomes, e.g., through …

prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper … in the mainstream of experimental economics. Indeed, the DT in modern microeconomics indicates that the direct utility … experiment using a series of relevant statistical tests. This study uses the multiple price list (MPL) method, which has been one …

both homophily and social norms in a controlled environment. At the beginning of our experiment, each player fills in a …

both homophily and social norms in a controlled environment. At the beginning of our experiment, each player fills in a …

We present a novel characterization of random rank-dependent expected utility for finite datasets and finite prizes. As … a byproduct, we obtain a characterization of random expected utility that works for finite datasets. The test lends … itself to statistical testing. We apply our test to an experimental dataset and find evidence against random expected utility …