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modified version of regret theory. …
Persistent link: https://www.econbiz.de/10011457585
We propose a theory-based experimental approach to compare the properties of approval voting (AV) with those of … produce close to first-best outcomes, while plurality will not. The experiment shows, first, that welfare gains are …
Persistent link: https://www.econbiz.de/10011407606
Using a laboratory experiment, we investigate whether a variety of behaviors in repeated games are related to an array …
Persistent link: https://www.econbiz.de/10010472858
, leadership, and following. Using a laboratory experiment, we explore how aspects are correlated between each other in a given …
Persistent link: https://www.econbiz.de/10010472880
-survey experiment to investigate how knowledge of party positions affects policy choices. We followed standard procedures in developing … an attribute-based choice experiment on alternative land-use policies in Switzerland. In contrast to the usual … ; choice experiment ; contingent valuation ; landscape ; heuristics ; information ; preference formation ; public goods …
Persistent link: https://www.econbiz.de/10003892449
The results of an experiment extending Ellsberg's setup demonstrate that attitudes towards ambiguity and compound …
Persistent link: https://www.econbiz.de/10011457763
The Allais critique of expected utility theory (EUT) has led to the development of theories of choice under risk that … labora-tory experiments designed to test independence, our experiment systematically tests the entire set of axioms …
Persistent link: https://www.econbiz.de/10012583551
Anscombe and Aumann (1963) offer a definition of subjective probability in terms of comparisons with objective probabilities. That definition - which has provided the basis for much of the succeeding work on subjective probability - presumes that the subjective probability of an event is...
Persistent link: https://www.econbiz.de/10013264885
We experimentally explore decision-making under uncertainty using a framework that decomposes uncertainty into three distinct layers: (1) physical uncertainty, entailing inherent randomness within a given probability model, (2) model uncertainty, entailing subjective uncertainty about the...
Persistent link: https://www.econbiz.de/10011862952
During recent decades, many new models have emerged in pure and applied economic theory according between Epstein (2010 … to an ambiguity averse preference for a randomized act. Building on this insight, we implement an experiment whose design …
Persistent link: https://www.econbiz.de/10011756091