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As if or What? – Expectations and Optimization in a Simple Macroeconomic Environment
Roos, Michael W. M.; Luhan, Wolfgang J. - 2008
In this paper we report the results of a laboratory experiment, in which we observed the behavior of agents in a simple macroeconomic setting. The structure of the economy was only partially known to the players which is a realistic feature of our experiment. We investigate whether subjects...
Persistent link: https://www.econbiz.de/10010264726
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As if or What? – Expectations and Optimization in a Simple Macroeconomic Environment
Roos, Michael W.M.; Luhan, Wolfgang J. - Rheinisch-Westfälisches Institut für … - 2008
In this paper we report the results of a laboratory experiment, in which we observed the behavior of agents in a simple macroeconomic setting. The structure of the economy was only partially known to the players which is a realistic feature of our experiment. We investigate whether subjects...
Persistent link: https://www.econbiz.de/10005738726
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Incentivizing motivation and self-control preferences
Hirt-Schierbaum, Linda; Ivets, Maryna - 2021
In this paper we develop a theoretical model concerning self-control, motivation and commitment. The model, based on Gul and Pesendorfer (2001), studies a two-period decision problem of an agent who faces a given menu and might experience temptation in the second period. In this case, the agent...
Persistent link: https://www.econbiz.de/10012422471
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Revealed Notions of Distributive Justice I – Theory
Becker, Nicole; Häger, Kirsten; Heufer, Jan - 2013
recover individual notions of distributive justice from data collected in appropriately designed experiments. 'Dictator games … planner' experiments or experiments under a 'veil of ignorance' (Rawls 1971) can be used to recover larger parts of the notion … necessarily incentivecompatible, and to recover a greater part of an individual's preference relation in dictator experiments than …
Persistent link: https://www.econbiz.de/10010331341
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Revealed Notions of Distributive Justice II – Experimental Evidence
Becker, Nicole; Häger, Kirsten; Heufer, Jan - 2013
experiments by a combination of selfishness and concerns for distributive justice. Most participants conform very well with the … therefore demonstrates that most participants' behaviour in dictator experiments can be explained by a combination of …
Persistent link: https://www.econbiz.de/10010331342
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Quasiconcave Preferences and Choices on a Probability Simplex – A Nonparametric Analysis
Heufer, Jan - 2010
A nonparametric approach is presented to test whether decisions on a probability simplex could be induced by quasiconcave preferences. Necessary and sufficient conditions are presented. If the answer is affirmative, the methods developed here allow to reconstruct bounds on indifference curves....
Persistent link: https://www.econbiz.de/10010271393
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Stochastic Dominance and Nonparametric Comparative Revealed Risk Aversion
Heufer, Jan - 2011
It is shown how to test revealed preference data on choices under uncertainty for consistency with first and second order stochastic dominance (FSD or SSD). The axiom derived for SSD is a necessary and sufficient condition for risk aversion. If an investor is risk averse, stochastic dominance...
Persistent link: https://www.econbiz.de/10010287423
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Stochastic Dominance and Nonparametric Comparative Revealed Risk Aversion
Heufer, Jan - Rheinisch-Westfälisches Institut für … - 2011
It is shown how to test revealed preference data on choices under uncertainty for consistency with first and second order stochastic dominance (FSD or SSD). The axiom derived for SSD is a necessary and sufficient condition for risk aversion. If an investor is risk averse, stochastic dominance...
Persistent link: https://www.econbiz.de/10009385731
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Revealed Notions of Distributive Justice I – Theory
Becker, Nicole; Häger, Kirsten; Heufer, Jan - Rheinisch-Westfälisches Institut für … - 2013
recover individual notions of distributive justice from data collected in appropriately designed experiments. “Dictator games … planner” experiments or experiments under a “veil of ignorance” (Rawls 1971) can be used to recover larger parts of the notion … necessarily incentivecompatible, and to recover a greater part of an individual’s preference relation in dictator experiments than …
Persistent link: https://www.econbiz.de/10010705760
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Revealed Notions of Distributive Justice II – Experimental Evidence
Becker, Nicole; Häger, Kirsten; Heufer, Jan - Rheinisch-Westfälisches Institut für … - 2013
experiments by a combination of selfishness and concerns for distributive justice. Most participants conform very well with the … therefore demonstrates that most participants’ behaviour in dictator experiments can be explained by a combination of …
Persistent link: https://www.econbiz.de/10010705762