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Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis
Praag, Bernard M.S. van - Tinbergen Instituut - 2007
economics, retaining the assumption of ordinal individual utilities. In Section 4 we introduce a cardinal utility concept, which …
Persistent link: https://www.econbiz.de/10011256611
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Kahneman and Tversky and the Origin of Behavioral Economics
Heukelom, Floris - Tinbergen Institute - 2007
formulation of the St. Petersburg paradox. Bernoulli’s celebrated solution to use utility instead of money marks the beginning of … expected utility theory (EUT). Bernoulli’s work is taken up by psychophysics which in turn plays an important role in the … utility in monetary terms. Relying on this utility definition and on von Neumann and Morgenstern’s axiomatic constraints of …
Persistent link: https://www.econbiz.de/10005137090
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Kahneman and Tversky and the Origin of Behavioral Economics
Heukelom, Floris - Tinbergen Instituut - 2007
formulation of the St. Petersburg paradox. Bernoulli’s celebrated solution to use utility instead of money marks the beginning of … expected utility theory (EUT). Bernoulli’s work is taken up by psychophysics which in turn plays an important role in the … utility in monetary terms. Relying on this utility definition and on von Neumann and Morgenstern’s axiomatic constraints of …
Persistent link: https://www.econbiz.de/10011256192
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The Origin of Prospect Theory, or Testing the Intuitive Statistician
Heukelom, Floris - Tinbergen Institute - 2005
The origin of prospect theory is the desire to test the intuitive statistician in the real world. The development of this theory by the cognitive psychologists Kahneman and Tversky can be traced to the formers work in cognitive psychophysics, in which deviations from average behavior are termed...
Persistent link: https://www.econbiz.de/10005137110
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The Origin of Prospect Theory, or Testing the Intuitive Statistician
Heukelom, Floris - Tinbergen Instituut - 2005
The origin of prospect theory is the desire to test the intuitive statistician in the real world. The development of this theory by the cognitive psychologists Kahneman and Tversky can be traced to the formers work in cognitive psychophysics, in which deviations from average behavior are termed...
Persistent link: https://www.econbiz.de/10011256975
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The Economics of Altruistic Punishment and the Demise of Cooperation
Egas, Martijn; Riedl, Arno - Tinbergen Institute - 2005
Explaining the evolution and maintenance of cooperation among unrelated individuals is one of the fundamental problems in biology and the social sciences. Recent experimental evidence suggests that altruistic punishment is an important mechanism to maintain cooperation among humans. In this...
Persistent link: https://www.econbiz.de/10005137083
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The Economics of Altruistic Punishment and the Demise of Cooperation
Egas, Martijn; Riedl, Arno - Tinbergen Instituut - 2005
Explaining the evolution and maintenance of cooperation among unrelated individuals is one of the fundamental problems in biology and the social sciences. Recent experimental evidence suggests that altruistic punishment is an important mechanism to maintain cooperation among humans. In this...
Persistent link: https://www.econbiz.de/10011255768
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The Impact of Lobbying on the Allocation of Political Authority
Falconieri, Sonia - Tinbergen Institute - 2001
This paper studies the internal organizational design of political institutions in presence of lobbying. We consider a legislature as composed of two bodies: the floor and an informational committee. The floor has the (formal) power to choose the policy to be implemented. The policy outcome is...
Persistent link: https://www.econbiz.de/10005137098
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Information Overload in Multi-Stage Selection Procedures
Ficco, Stefano; Karamychev, Vladimir A. - Tinbergen Institute - 2004
The paper studies information processing imperfections in a fully rational decision-making network. It is shown that imperfect information transmission and imperfect information acquisition in a multi-stage selection game yield information overload. The paper analyses the mechanisms responsible...
Persistent link: https://www.econbiz.de/10005137327
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Information Overload in Multi-Stage Selection Procedures
Ficco, Stefano; Karamychev, Vladimir A. - Tinbergen Instituut - 2004
The paper studies information processing imperfections in a fully rational decision-making network. It is shown that imperfect information transmission and imperfect information acquisition in a multi-stage selection game yield information overload. The paper analyses the mechanisms responsible...
Persistent link: https://www.econbiz.de/10011256565