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A Model of Overconfidence
Weinberg, Bruce A. - 2009
People use information about their ability to choose tasks. If more challenging tasks provide more accurate information about ability, people who care about and who are risk averse over their perception of their own ability will choose tasks that are not sufficiently challenging. Overestimation...
Persistent link: https://www.econbiz.de/10013158056
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Testing the Advantages of Conscious vs. Unconscious Thought for Complex Decisions in a Distraction Free Paradigm
McElroy, Todd - 2016
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
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Smog, Cognition and Real-World Decision Making
Chen, Xi - 2018
and epidemiologic evidence linking air pollution, cognition performance and real-world decision making, we first … have to be made. The decision-making process can be vulnerable to environmental stressors. Summarizing the growing economic … illustrate key physiological and psychological pathways between air pollution and cognition. We then document the main patterns …
Persistent link: https://www.econbiz.de/10012907831
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The Effect of Perceived Regional Accents on Individual Economic Behavior : A Lab Experiment on Linguistic Performance, Cognitive Ratings and Economic Decisions
Heblich, Stephan - 2014
Does it matter if you speak with a regional accent? Speaking immediately reveals something of one's own social and cultural identity, be it consciously or unconsciously. Perceiving accents involves not only reconstructing such imprints but also augmenting them with particular attitudes and...
Persistent link: https://www.econbiz.de/10013043672
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Cognitive Abilities and Behavioral Biases
Oechssler, Joerg; Roider, Andreas; Schmitz, Patrick W. - 2021
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/10013324818
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Occupational Classifications : A Machine Learning Approach
Ikudo, Akina - 2018
, classification has been done manually. If it were possible to combine new computational tools and administrative wage records to …
Persistent link: https://www.econbiz.de/10012912234
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The Role of Bounded Rationality and Imperfect Information in Subgame Perfect Implementation : An Empirical Investigation
Aghion, Philippe - 2015
mechanism should – in theory – provide incentives for truth-telling, many buyers in fact believe that they can increase their …
Persistent link: https://www.econbiz.de/10013023778
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Testing Bounded Rationality Against Full Rationality in Job Changing Behavior
Contini, Bruno; Morini, Matteo - 2021
In this paper we question the hypothesis of full rationality in the context of job changing behaviour, via simple econometric explorations on microdata drawn from WHIP (Worker Histories Italian Panel). Workers' performance is compared at the end of a three-year time window that starts when...
Persistent link: https://www.econbiz.de/10013316720
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Two-Stage Boundedly Rational Choice Procedures : Theory and Experimental Evidence
Manzini, Paola; Mariotti, Marco - 2021
We study and test a class of boundedly rational models of decision making which rely on sequential eliminative … heuristics. We formalize two sequential decision procedures, both inspired by plausible models popular among several …
Persistent link: https://www.econbiz.de/10013317410
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Incentive Complexity, Bounded Rationality and Effort Provision
Abeler, Johannes; Huffman, David; Raymond, Collin - 2023
Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to over-provide effort relative to a fully rational...
Persistent link: https://www.econbiz.de/10014347039