Showing 1 - 10 of 348
Persistent link: https://www.econbiz.de/10003591239
Mechanism design theory strongly relies on the concept of Nash equilibrium. However, studies of experimental games show … of the most influential benchmarks of mechanism design theory, the expected externality mechanism (DÁspremont, Gerard …
Persistent link: https://www.econbiz.de/10010471710
. Standard theory would want judges to rationally deal with the limitations of the evidence. We posit that this is not only …
Persistent link: https://www.econbiz.de/10011349372
Simons̕ (1955) famous paper was one of the first to cast doubt on the validity of rational choice theory; it has been … supplemented by many more papers in the last three and a half decades. Nevertheless, rational choice theory plays a crucial role in … classical and neoclassical economic theory, which presumes a completely rational agent. The central points characterizing such …
Persistent link: https://www.econbiz.de/10002526505
for testing the proposed unifying theory under complex real-world conditions are discussed. -- Judgment and Decision …
Persistent link: https://www.econbiz.de/10003862047
This article is concerned with the welfare properties of trade when the behavior of agents cannot be rationalized by preferences. I investigate this question in an environment of matching allocation problems. There are two reasons for doing so: firstly, the finiteness of such problems entails...
Persistent link: https://www.econbiz.de/10008779117
expected utility models such as cumulative prospect theory (CPT), but use information in a non-compensatory manner and ignore … ; Decision Latency ; Process Tracing ; Cumulative Prospect Theory …
Persistent link: https://www.econbiz.de/10003730615
Classic behavioral decision research has intensively explored deliberate processes in decision making. Accordingly, individuals are viewed as bounded rational actors who, because of cognitive limitations, use simple heuristics that are successful in certain environments. In this chapter, it is...
Persistent link: https://www.econbiz.de/10003730648
institutionenökonomisch-evolutionäre Wettbewerbsleitbild in seinen Grundzügen skizziert und für eine regelgeleitete Wettbewerbspolitik, die …
Persistent link: https://www.econbiz.de/10011581950
The purpose of this article is to provide an alternative antitrust model to the mainstream model that is used in competition policy. I call it the Institutional-Evolutionary Antitrust Model. In order to construct an antitrust model one needs both empirical knowledge and considerations of how to...
Persistent link: https://www.econbiz.de/10011582635