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The curse of knowledge increases self-selection into competition: Experimental evidence
Danz, David - 2014
-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative …
Persistent link: https://www.econbiz.de/10010397879
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Negotiation under the curse of knowledge
Pierrot, Thibaud - 2019
negotiation situations. We report the results of a laboratory experiment that was designed to isolate the effect of the curse of …
Persistent link: https://www.econbiz.de/10012141849
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Pricing risk and ambiguity: The effect of perspective taking
Trautmann, Stefan T.; Schmidt, Ulrich - 2011
There is a large literature showing that willingness-to-accept (WTA) is usually much higher than willingness-to-pay (WTP) in empirical studies although they should be roughly equal according to traditional economic theory. A second stream of literature shows that people are typically ambiguity...
Persistent link: https://www.econbiz.de/10010285717
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Aggregation and convergence in experimental general equilibrium economies constructed from naturally occurring preferences
Crockett, Sean; Friedman, Daniel; Oprea, Ryan - 2017
Prior laboratory experiments have studied general equilibrium economies constructed from "induced preferences" for artificial goods. We introduce new methods that allow us to study economies constructed instead from subjects' actual, "homegrown" preferences. Our subjects reveal their preferences...
Persistent link: https://www.econbiz.de/10011763083
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Donations to US based NGOs in international development cooperation: How (un-)informed are private donors?
Nunnenkamp, Peter; Öhler, Hannes - 2011
Apart from scaling up foreign aid by NGOs, informed choices of private donors could also encourage an efficient and targeted use of NGO funds in international development cooperation. We assess the determinants of private donations across a large sample of US based NGOs with foreign aid...
Persistent link: https://www.econbiz.de/10010285490
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Individual expectations and aggregate behavior in learning to forecast experiments
Hommes, Cars; Lux, Thomas - 2008
Models with heterogeneous interacting agents explain macro phenomena through interactions at the micro level. We propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains all stylized facts observed in aggregate price fluctuations...
Persistent link: https://www.econbiz.de/10010263533
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An experimental investigation of violations of transitivity in choice under uncertainty
Birnbaum, Michael H.; Schmidt, Ulrich - 2008
Several models of choice under uncertainty imply systematic violations of transitivity of preference. Our experiments explored whether people show patterns of intransitivity predicted by these models. To distinguish "true" violations from those produced by "error", a model was fit in which each...
Persistent link: https://www.econbiz.de/10010273147
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Everyday econometricians: Selection neglect and overoptimism when learning from others
Barron, Kai; Huck, Steffen; Jehiel, Philippe - 2019
In this paper, we design an investment game which allows us to study the influence of selection when learning from … others. Using the theoretical study of selection neglect in Jehiel (2018) as a guide, we test (i) for the presence of … selection neglect in this investment context, and (ii) some comparative static predictions of the model. We find strong evidence …
Persistent link: https://www.econbiz.de/10011984926
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Enforcement of environmental liability in the case of uncertain causality and asymmetric information
Bartsch, Elga - 1996
In providing precautionary incentives and allocating environmental risk, liability for environmental damages faces two …
Persistent link: https://www.econbiz.de/10010275334
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Asymmetrically dominated alternatives and random incentive mechanisms
Schmidt, Ulrich - 2010
observe risk behavior in a given choice problem. We show that by integrating a second, asymmetrically dominated choice problem … in a random incentive mechanism risk behavior can be manipulated systematically. This implies that the isolation …
Persistent link: https://www.econbiz.de/10010278010