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How mindless is standard economics really?

Schipper, Burkhard C. - 2009

Contrary to claims by Gul and Pesendorfer (2008), I show that standard economics makes use of non-choice evidence in a meaningful way. This is because standard economics solely grounded in the theory of choice is incomplete. That is, it has content that can not be revealed with any general...

Persistent link: https://www.econbiz.de/10010282111

Orthodoxer Mainstream und Heterodoxe Alternativen: Eine Analyse der ökonomischen Wissenschaftslandschaft

Quaas, Friedrun - 2014

Die moderne Volkswirtschaftslehre als wissenschaftliche Disziplin ist einerseits durch große Uneinheitlichkeit geprägt, die andererseits selbst in Zeiten der Krise der Theorie anscheinend nicht nachhaltig in ein öffentliches Bewusstsein vordringen konnte. Nach wie vor wird die Ökonomik...

Persistent link: https://www.econbiz.de/10010352773

Marx's appreciation of James Steuart: A theory of history and value

McColloch, William - 2011

This paper argues that despite a growing body of scholarly literature on Sir James Steuart, his theory of history and influence on Marxian political economy has been largely ignored. The approach of this paper is motivated, in part, by Marx's sympathetic treatment of Steuart found in the opening...

Persistent link: https://www.econbiz.de/10010288075

Time will tell: Recovering preferences when choices Are noisy

Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2018

. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in … choices reveal preferences without assumptions on the structure of utility noise. Sharper results are obtained if the analysis … conclude by showing that standard random utility models from economics and standard drift-diffusion models from psychology …

Persistent link: https://www.econbiz.de/10011969217

Does Exposure to Unawareness Affect Risk Preferences? A Preliminary Result

Schipper, Burkhard C.; Ma, Wenjun - 2017

One fundamental assumption often made in the literature on unawareness is that risk preferences are invariant to changes of awareness. We study how exposure to unawareness affects choices under risk. Participants in our experiment choose repeatedly between varying sure outcomes and a lottery in...

Persistent link: https://www.econbiz.de/10011936487

Cognitive load in economic decisions

Achtziger, Anja; Alós-Ferrer, Carlos; Ritschel, Alexander - 2020

Intuitive decision making has a large and often negative impact in economic decisions, but its measurement and quantification remains challenging. Following research from psychology, behavioral economists have often attempted to causally manipulate the balance of intuition and deliberation by...

Persistent link: https://www.econbiz.de/10012253771

Time will tell: Recovering preferences when choices are noisy

Alós-Ferrer, Carlos; Fehr, Ernst; Netzer, Nick - 2020

Persistent link: https://www.econbiz.de/10012290558

Who likes it more? Using response times to elicit group preferences in surveys

Alós-Ferrer, Carlos; Garagnani, Michele - 2022

Surveys and opinion polls are essential instruments to elicit societal preferences and uncover differences between socioeconomic or demographic groups. However, survey data is noisy, and survey bias is ubiquitous, limiting the reliability and usefulness of standard analyses. We provide a new...

Persistent link: https://www.econbiz.de/10013470081

Sex hormones and choice under risk

Schipper, Burkhard C. - 2014

We study the correlation of choice under risk in Holt-Laury lotteries for gains and losses with gender, the use of hormonal contraceptives, menstrual cycle information, salivary testosterone, estradiol, progesterone, and cortisol as well as the digit ratio (2D:4D) in more than 200 subjects. In...

Persistent link: https://www.econbiz.de/10010507615

Sex hormones and competitive bidding

Schipper, Burkhard C. - 2014

We correlate competitive bidding and profits in symmetric independent private value first-price auctions with salivary testosterone, estradiol, progesterone, and cortisol in more than 200 subjects. Bids are significantly positively correlated and profits are significantly negatively correlated...

Persistent link: https://www.econbiz.de/10010507619