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In this paper we conduct a laboratory experiment to test the extent to which Moore and Repullo's subgame perfect …
Persistent link: https://www.econbiz.de/10013023778
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 psychologists and marketing scientists. However we follow a standard...
Persistent link: https://www.econbiz.de/10013317410
Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded …
Persistent link: https://www.econbiz.de/10014347039
We study the role of the most primitive institution in society: the family. Its organization and relationship between generations shape values formation, economic outcomes and influences national institutions. We use a measure of family ties, constructed from the World Values Survey, to review...
Persistent link: https://www.econbiz.de/10013082136
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
We perform an incentivized experiment designed to assess the accuracy of beliefs about characteristics and decisions … information is readily available as in height and weight. We present evidence from our experiment that limited attention and self …
Persistent link: https://www.econbiz.de/10013026876
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
In this paper we question the hypothesis of full rationality in the context of job changing behavior, via simple econometric explorations on microdata drawn from WHIP (Worker Histories Italian Panel). A rational outcome of the job matching process implies a positive tradeoff between future wages...
Persistent link: https://www.econbiz.de/10013317208
We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a 'consideration set' prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality...
Persistent link: https://www.econbiz.de/10013141716
-type endogenously determined lottery is always superior to an all-pay-auction; it yields larger expected efforts (revenues) for the … optimal lottery is equal to his expected payoff under the optimal all-pay auction …
Persistent link: https://www.econbiz.de/10013096475