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Customers at the online music label Magnatune can pay what they want for albums, as long as the payment is within a given price range ($5-$18). Magnatune recommends to pay $8, and on average customers paid $8.20 (Regner and Barria, 2009). We ran an online survey and collected responses from 227...
Persistent link: https://www.econbiz.de/10008747635
In experimental economics there exists a lively debate about the independence of observations. Although opinions on the issue differ widely, all concerns regard the independence of subjects' behavior within one session or experiment. This paper attempts to shed some light on the independence of...
Persistent link: https://www.econbiz.de/10003883277
Intentions-based models of social preferences use the framework of psychological games and incorporate higher order beliefs and actions into the utility function. We test the robustness of two types of intentions-based models (guilt aversion and reciprocity). In addition to incentivised...
Persistent link: https://www.econbiz.de/10008689019
This study investigates experimentally whether people in retrospective are self-aware that they engage in status-seeking behavior. Subjects participated in a real-effort task where effort translated into a donation to a charity. Within-subjects we varied the visibility of their performance...
Persistent link: https://www.econbiz.de/10009567101
We investigate the effect of how news outlets communicate macroeconomic information to consumers on support for … receive no information, the baseline forecast information, or real-world frames of the same information used in newspaper … articles on the topic. We find that in contrast to the baseline information, positive framing of forecasted economic growth by …
Persistent link: https://www.econbiz.de/10012496418
compensation scheme under both symmetric and asymmetric information about workers' actions, and we also derive conditions for our …
Persistent link: https://www.econbiz.de/10009374668
taking and observe a gender effect for one of our new hypotheses. -- Information ; knowledge ; uncertainty ; search … ; learning ; information and knowledge ; communication ; belief ; expectations ; speculations …
Persistent link: https://www.econbiz.de/10003809924
Based on the aggregated insights of the existing theories related to multiple sources of efficacy and locus of control, we introduce the theory of mixed control, a model of compound-risk perception. This theory considers outcome expectancies as being composed of expectancies regarding three...
Persistent link: https://www.econbiz.de/10003809935
The quadratic scoring rule (QSR) is often used to guarantee an incentive compatible elicitation of subjective probabilities over events. Experimentalists have regularly not been able to ensure that subjects fully comprehend the consequences of their actions on payoffs given the rules of the...
Persistent link: https://www.econbiz.de/10003952491
We study two person-betting games with inconsistent commonly know beliefs, using an experimental approach. In our experimental games, participants bet against one another, each bettor choosing one of two possible outcomes, and payoff odds are know at the time bets are placed. Bettors’ beliefs...
Persistent link: https://www.econbiz.de/10003857882