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What does “clean” really mean? The implicit framing of decontextualized experiments

Engel, Christoph; Rand, David G. - In: Economics Letters 122 (2014) 3, pp. 386-389

It is standard in experimental economics to use decontextualized designs where payoff structures are presented using neutral language. Here we show that cooperation in such a neutrally framed Prisoner’s Dilemma is equivalent to a PD framed as contributing to a cooperative endeavour....

Persistent link: https://www.econbiz.de/10011041589

Do social networks prevent or promote bank runs?

Kiss, Hubert Janos; Rodriguez-Lara, Ismael; … - In: Journal of Economic Behavior & Organization 101 (2014) C, pp. 87-99

We report experimental evidence on the effect of observability of actions on bank runs. We model depositors’ decision-making in a sequential framework, with three depositors located at the nodes of a network. Depositors observe the other depositors’ actions only if connected by the network....

Persistent link: https://www.econbiz.de/10011048191

Faith in intuition and behavioral biases

Alós-Ferrer, Carlos; Hügelschäfer, Sabine - In: Journal of Economic Behavior & Organization 84 (2012) 1, pp. 182-192

experiment, we find that higher report scores are associated with an increased use of the representativeness heuristic … second experiment show that more intuitive decision makers rely more often on the “reinforcement heuristic” where successful …

Persistent link: https://www.econbiz.de/10011048217

Bidding in private-value auctions with uncertain values

McGee, Peter - In: Games and Economic Behavior 82 (2013) C, pp. 312-326

auctions with uncertainty over final values in this experiment resulted in 18% and 27% of bids above the expected value of the … item in private-value first-price and English auctions, respectively. Risk-seeking preferences as measured on an individual … decision task cannot explain overbidding and the first-price auction results suggest that risk aversion may not be a good …

Persistent link: https://www.econbiz.de/10011049854

The discount is unfair: Egocentric fairness in risky discounts

Choi, Sungchul; Park, Sang-June; Qiu, Chun; Stanyer, Mike - In: Journal of Economic Psychology 39 (2013) C, pp. 32-43

This paper examines how consumers perceive fairness and enjoy the outcome of an emerging risky discount: the retail industry’s gambling or lottery type “scratch and save” (SAS) price promotions, in which the actual discount is determined by chance at the checkout.

Persistent link: https://www.econbiz.de/10011051369

More than outcomes: The role of self-image in other-regarding behavior

Matthey, Astrid; Regner, Tobias - Wirtschaftswissenschaftliche Fakultät, … - 2014

We conduct a modified dictator game in order to analyze the role self-image concerns play in other-regarding behavior. While we generally follow Konow (2000), a cognitive dissonance-based model of other-regarding behavior in dictator games, we relax one of its assumptions as we allow for...

Persistent link: https://www.econbiz.de/10011115280

The curse of knowledge increases self-selection into competition: Experimental evidence

Danz, David - Verein für Socialpolitik - VfS - 2014

others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative …

Persistent link: https://www.econbiz.de/10011163925

Uncertainty and Disagreement in Forecasting Inflation : Evidence from the Laboratory (Replaced by CentER DP 2012-072)

Pfajfar, Damjan; Zakelj, B. - Tilburg University, Center for Economic Research - 2011

We establish several stylized facts about the behavior of individual uncertainty and disagreement between individuals when forecasting inflation in the laboratory. Subjects correctly perceive the underlying inflation uncertainty in only 60% of cases, which can be interpreted as the...

Persistent link: https://www.econbiz.de/10011090681

Emotional reactions to the outcomes of decisions : The role of counterfactual thought in the experience of regret and disappointment

Zeelenberg, M.; van Dijk, W.W.; van der Pligt, J.; … - Tilburg University, Center for Economic Research - 1998

Persistent link: https://www.econbiz.de/10011091278

Rational Choice and the Relevance of Irrelevant Alternatives

Seidl, C.; Traub, S. - Tilburg University, Center for Economic Research - 1996

This experimental study investigates the inuence of irrelevant or phantom al- ternatives on subjects' choices in sequential decision making. Using experimental data from 45 subjects, we found that irrelevant alternatives bear significant rele- vance for decision making. We observe that only 38%...

Persistent link: https://www.econbiz.de/10011091379