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Cooperation problems are at the heart of many everyday situations. In this paper, we propose a very simple and light-handed mechanism to sustain cooperation and test its performance in a rich laboratory environment. The mechanism moderates cooperation by controlling experiences, more...
Persistent link: https://www.econbiz.de/10010281841
Cooperation problems are at the heart of many everyday situations. In this paper, we propose a very simple and light-handed mechanism to sustain cooperation and test its performance in a rich laboratory environment. The mechanism moderates cooperation by controlling experiences, more...
Persistent link: https://www.econbiz.de/10009007141
experience and learning can yield more stable outcomes and provide a more accurate representation of individual risk preferences …
Persistent link: https://www.econbiz.de/10014350808
Do people know their own risk preferences, or do risk choices change with experience and observation? We provide a clean and straightforward test in the laboratory. People make an initial decision concerning a lottery choice and then experience 24 practice periods in which they roll the dice,...
Persistent link: https://www.econbiz.de/10013404466
psychology of learning, and work form social scientists on learning.The paper makes the following claim: typically the law … reaches its addressees indirectly. The law is not followed, it is learned. There are two distinct learning objects. Throughout … take the form of schema-like social mirror rules, or of exemplars.Learning also is the key to understanding how individuals …
Persistent link: https://www.econbiz.de/10010324009
psychology of learning, and work form social scientists on learning.The paper makes the following claim: typically the law … reaches its addressees indirectly. The law is not followed, it is learned. There are two distinct learning objects. Throughout … take the form of schema-like social mirror rules, or of exemplars.Learning also is the key to understanding how individuals …
Persistent link: https://www.econbiz.de/10011582792
psychology of learning, and work from social scientists on learning. The paper makes the following claim: typically the law … reaches its addressees indirectly. The law is not followed, it is learned. There are two distinct learning objects. Throughout … take the form of schema-like social mirror rules, or of exemplars. Learning also is the key to understanding how …
Persistent link: https://www.econbiz.de/10014071940
Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the determinants for efficiency in credence goods...
Persistent link: https://www.econbiz.de/10005822832
From the perspective of competitors, competition may be modeled as a prisoner’s dilemma. Setting the monopoly price is cooperation, undercutting is defection. Jointly, competitors are better off if both are faithful to a cartel. Individually, profit is highest if only the competitor(s) is...
Persistent link: https://www.econbiz.de/10009021689
Self-control problems have recently received considerable attention from economic theorists. We conducted two studies to test the benefits of externally imposed deadlines and how willpower depletion affects behavior, providing some of the first data in these areas. Each study involved a...
Persistent link: https://www.econbiz.de/10008685106