Showing 1 - 10 of 8,252
We present an infinite-horizon model of moral standards where self-esteem and unconscious drives play key roles. In the model, an individual receives random temptations (such as bribe offers) and must decide which to resist. Individual actions depend both on conscious intent and a type...
Persistent link: https://www.econbiz.de/10012464139
The paper studies a voting scheme where members of a committee voting sequentially on a known series of binary proposals are each granted a single extra bonus vote to cast as desired - a streamlined version of Storable Votes. When the order of the agenda is exogenous, a simple sufficient...
Persistent link: https://www.econbiz.de/10012464160
We examine innovative contexts like scientific research or technical R&D where agents must search across many potential projects of varying and uncertain returns. Is it better to possess incomplete but accurate data on the value of some projects, or might there be cases where it is better to...
Persistent link: https://www.econbiz.de/10014544680
Starting from Robbins (1952), the literature on experimentation via multi-armed bandits has wed exploration and exploitation. Nonetheless, in many applications, agents' exploration and exploitation need not be intertwined: a policymaker may assess new policies different than the status quo; an...
Persistent link: https://www.econbiz.de/10014544703
Choosing what is morally right can be based on the consequences (ends) resulting from the decision - the Consequentialist view - or on the conformity of the means involved with some overarching notion of duty - the Deontological view. Using a series of experiments, we investigate the overall...
Persistent link: https://www.econbiz.de/10014468273
We propose a model to study when an intermediate action can serve as a "stepping stone" that enables the elimination of a harmful norm. While the intermediate action may facilitate the first "step", it may also become a new norm. We derive intuitive conditions for stepping stones, which depend...
Persistent link: https://www.econbiz.de/10015409765
Just and efficient allocations of charity have attracted much academic and media attention. The sources of inefficiency and unjust are important to understand yet understudied. Our study aims to fill this void by directly modelling the victims' market in a collective reputation framework. By...
Persistent link: https://www.econbiz.de/10015194973
Macroeconomic dynamics are shaped by how individual incentives to spend and accumulate interact with the decisions of others. The goal of this paper is to identify--within a simple large-game-theoretic structure--which types of agent interactions favor which types of dynamic equilibrium...
Persistent link: https://www.econbiz.de/10014635624
We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems that can be computed for any standard dataset. These indices capture the predicted error rate in identifying the lottery with the highest expected value, where the predictions are...
Persistent link: https://www.econbiz.de/10014372434
There is a wealth of research in psychology demonstrating that agents process information with the aid of categories. In this paper we study this phenomenon in two parts. First, we build a model of how experiences are sorted into categories and how categorization affects decision making. Second,...
Persistent link: https://www.econbiz.de/10012469120