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On the social dimension of time and risk preferences: An experimental study

Levati, M. Vittoria; Güth, Werner; Ploner, Matteo - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2005

We report on an experiment designed to explore the interrelation of other-regarding concerns with attitudes towards risk and delay when the latter have a social dimension, i.e., pertain to one's own and another person's payoffs. For this sake, we compare evaluations of several prospects, each of...

Persistent link: https://www.econbiz.de/10005765156

Friedman, Harsanyi, Rawls, Boulding - Or Somebody Else? An Experimental Investigation of Distributive Justice

Traub, Stefan; Seidl, Christian; Schmidt, Ulrich; … - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft

This paper investigates distributive justice using a fourfold experimental design: The ignorance and the risk scenarios are combined with the self-concern and the umpire modes. We study behavioral switches between self-concern and umpire mode and investigate the goodness of ten standards of...

Persistent link: https://www.econbiz.de/10005765215

The impact of payoff interdependence on trust and trustworthiness

Levati, M. Vittoria; Ploner, Matteo; Güth, Werner - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2005

, trust remains unaffected by the extent of interdependence whereas trustworthiness reacts positively to it. …

Persistent link: https://www.econbiz.de/10005824111

Social identity and trust - An experimental investigation

Güth, Werner; Levati, M. Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2007

We experimentally examine how group identity affects trust behavior in an investment game. In one treatment, group … prompted) to minimal group identity to two-dimensional group identity, we find no significant differences in trust decisions …. However, trust is significantly and positively correlated with contribution decisions, suggesting that "social" trust is …

Persistent link: https://www.econbiz.de/10005765125

How to Preserve a Fortune: An Experimental Comparison of Foundations and Direct Transfers to the Heir

Güth, Werner; Koschmieder, Kurt-Dieter; Levati, M. Vittoria - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2005

Direct transfers allow heirs to freely use what has been passed on to them. Bequeathers who do not trust their … trust their descendant. When transfers to the descendant are less efficient than investments in a foundation, due to, e …

Persistent link: https://www.econbiz.de/10005765155

Is Satisficing Absorbable? - An Experimental Study

Güth, Werner; Levati, M. Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2006

We experimentally investigate whether the satisficing approach is absorbable, i.e., whether it still applies after participants become aware of it. In a setting where an investor decides between a riskless bond and either one or two risky assets, we familiarize participants with the satisficing...

Persistent link: https://www.econbiz.de/10005824112

Reasoning and Institutions: Do Markets Facilitate Logical Reasoning in the Wason Selection Task?

Güth, Werner; Levati, M. Vittoria; Sausgruber, Rupert - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft

We consider a society composed of two regions. Each of them provides a public good whose benefits reach beyond local boundaries. In case of decentralization, taxes collected by members of a region are spent only on that region's public good. In case of centralization, tax receipts from the two...

Persistent link: https://www.econbiz.de/10005765183

Attitudes toward Private and Collective Risks in Individual and Strategic Choice Situations

Brennan, Geoffrey; Güth, Werner; Gonzalez, Luis G.; … - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2005

Idiosyncratic risk attitudes are usually assumed to be commonly known and restricted to own payoffs. However, the alternatives faced by a decision maker often involve risks for others' payoffs as well. Motivated by the importance of other-regarding preferences in social interactions, this paper...

Persistent link: https://www.econbiz.de/10005765150

On the Co-evolution of Retribution and Trustworthiness: An (Indirect) Evolutionary and Experimental Analysis

Güth, Werner; Kliemt, Hartmut; Levati, M. Vittoria; … - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2006

Standard economic explanations of good conduct in trade rely almost exclusively on future-directed extrinsic motivations induced by material incentives. But intrinsic motives to behave trustworthy and to punish untrustworthiness do support trade. In our model, intrinsically motivated players are...

Persistent link: https://www.econbiz.de/10005765093

Satisficing in sales competition: experimental evidence

Berninghaus, Siegfried; Güth, Werner; Levati, M. Vittoria - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2006

In a stochastic duopoly market, sellers must form state-specific aspirations expressing how much they want to earn given their expectations about the other's behavior. We define individually and mutually satisficing sales behavior for given individual beliefs and aspiration profiles. In a first...

Persistent link: https://www.econbiz.de/10005765138