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). 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
We present a framework that incorporates both moral motivations and fairness considerations into utility. The main idea is that individuals face a preference trade-off between their material individual interest and their desire to follow moral norms. In our model, we assume that moral motivation...
Persistent link: https://www.econbiz.de/10012858837
This paper studies how a preference for consistency can affect economic decision-making. We propose a two-period model … principal-agent experiment that shows that consistency is valued by others and that this value is anticipated. The second … experiment underlines the crucial role of early commitment for consistency preferences. Finally we show how preferences for …
Persistent link: https://www.econbiz.de/10013122407
We introduce and study the problem of manipulation of choice behavior. In a class of two-stage models of decision …
Persistent link: https://www.econbiz.de/10013121739
Multidimensional welfare analysis has recently been revived by money-metric measures based on explicit fairness principles and the respect of individual preferences. To operationalize this approach, preference heterogeneity can be inferred from the observation of individual choices (revealed...
Persistent link: https://www.econbiz.de/10012948689
Recent advances in the collective model literature suggest ways to estimate the complete allocation of resources within households, using assignable goods and assuming adult preference similarity across demographic groups (or across spouses). While it makes welfare analysis at the individual...
Persistent link: https://www.econbiz.de/10012914348
We provide a nonparametric 'revealed preference' characterization of rational household behavior in terms of the collective consumption model, while accounting for general (possibly non-convex) individual preferences. We establish a Collective Axiom of Revealed Preference(CARP), which provides a...
Persistent link: https://www.econbiz.de/10013324875
We document considerable within-person (over time) variation in diet quality that is not fully explained by responses to fluctuations in the economic environment. We propose a two-selves model that provides a structural interpretation to this variation, in which food choices are a compromise...
Persistent link: https://www.econbiz.de/10012940852
computer game in which decision makers have to pay attention to and perform multiple actions within a short period of time. The …
Persistent link: https://www.econbiz.de/10014356681
The economic theory of fertility choice builds predominantly on the unitary model of the household, in which there is a single household utility function and potential intra-household disagreement is abstracted from. Empirical evidence suggests, however, that many (potential) mothers and fathers...
Persistent link: https://www.econbiz.de/10013039579