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these two sets of results. This kind of validation of experienced utility via direct comparison with decision utility …
Persistent link: https://www.econbiz.de/10013016299
In this paper we investigate how heterogeneous agents choose among tournaments with different prizes. We show that if the number of agents is sufficiently small, multiple equilibria can arise. Depending on how the prize money is split over the tournaments, these may include, for example, a...
Persistent link: https://www.econbiz.de/10013137797
. Besides making choices, decision makers have to state their first- and second-order beliefs. We find that teams play the Nash …
Persistent link: https://www.econbiz.de/10013148075
We examine the strategic sophistication of adolescents, aged 10 to 17 years, in experimental normal-form games. Besides making choices, subjects have to state their first- and second-order beliefs. We find that choices are more often a best reply to beliefs if any player has a dominant strategy...
Persistent link: https://www.econbiz.de/10013141220
ignoring the household as unit of decision-making has relevant empirical consequences. In estimation, the individual search … individual search specification implies gender differentials in lifetime utility inequality 74% larger. The results of our policy … experiments emphasize the importance of looking at lifetime utility inequality measures as opposed to simply cross-sectional wage …
Persistent link: https://www.econbiz.de/10013099113
individual models presented in his theory of marriage. Decision-making models assuming independent individual household members …Much of the recent literature in household economics has been critical of unitary models of household decision … discusses another alternative: independent individual models of decision-making that don't make any specific assumptions of …
Persistent link: https://www.econbiz.de/10013139037
We empirically study the determinants of intra-household decision power with respect to economic and financial choices …'s characteristics in terms of age, education, and income. The main conclusion is that decision-making power over family economics is not …
Persistent link: https://www.econbiz.de/10013104671
During the last two decades, the discrete-choice modelling of labour supply decisions has become increasingly popular, starting with Aaberge et al. (1995) and van Soest (1995). Within the literature adopting this approach there are however two potentially important issues that are worthwhile...
Persistent link: https://www.econbiz.de/10012780622
Recent advances in behavioral genetics have enabled the discovery of genetic scores linked to a variety of economic outcomes, including education. We build on this progress to demonstrate that the same genetic variants that predict educational attainment independently predict household wealth in...
Persistent link: https://www.econbiz.de/10012962275
In this study we test predictions from Unconscious Thought Theory (UTT) that unconscious thought will lead to better … 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/10012979447