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about the invested amount. The low frequency treatment stimulates decision makers to frame a sequence of risky decisions …
Persistent link: https://www.econbiz.de/10013089008
The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates of the probability of a horse winning - longshots are overbet, while favorites are underbet. Neoclassical explanations of this phenomenon focus on rational gamblers who overbet...
Persistent link: https://www.econbiz.de/10013133624
, and differential responses to luck account for about half of the gender performance gap in our experiment. These findings …
Persistent link: https://www.econbiz.de/10013141427
). We conduct a laboratory experiment in which subjects make decision on behalf of themselves and others in eighteen tasks …We examine whether biases identified in the behavioral-economics literature apply in decision-making for others (DMfO … aversion, decoy effect, anchoring bias, endowment effect, and identifiable-victim bias. In our experiment, DMfO is DMfO …
Persistent link: https://www.econbiz.de/10012906522
This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for …
Persistent link: https://www.econbiz.de/10013080140
We present an experiment on strategic thinking and behavior of individuals and teams in one-shot normal-form games …. 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
In a simple conceptual framework, we organize a multitude of phenomena related to the (mis)prediction of utility. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are characterized by attributes satisfying extrinsic...
Persistent link: https://www.econbiz.de/10013080151
prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities …
Persistent link: https://www.econbiz.de/10013154976
We consider the voting behavior of Supreme Court Justices, finding evidence of co-dependencies in their votes. Coincident with changes in the party imbalance of the Court over time, sharp discontinuities in these dependencies are evident. Overall, the patterns suggest a tradeoff between...
Persistent link: https://www.econbiz.de/10012870164