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Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts to capture them. In this review, we first analyze the extent to which economic preferences and psychological concepts of personality, such as the Big Five and locus...
Persistent link: https://www.econbiz.de/10010822954
a laboratory experiment. I let subjects perform a simple cognitive task with the possibility to herd under different …
Persistent link: https://www.econbiz.de/10010734355
individuals in the investment task; content analysis of group discussions reveals that higher risk-taking in groups is positively …We investigate experimentally the effect of consultation (unincentivized advice) on choices under risk in an … incentivized investment task. We compare consultation to two benchmark treatments: one with isolated individual choices, and a …
Persistent link: https://www.econbiz.de/10010737907
-and-stingy. Using an experiment the authors find that both income-status and generosity-status concerns affect behavior. Furthermore …
Persistent link: https://www.econbiz.de/10010739551
A "sunspot" is a variable that has no direct impact on the economy’s fundamental condition, such as preferences, endowments or technologies, but may nonetheless affect economic outcomes through the expectations channel as a coordination device. This paper investigates how people react to...
Persistent link: https://www.econbiz.de/10010762044
economically important ways. To test this, we designed a controlled experiment using first year college students who made choices …
Persistent link: https://www.econbiz.de/10010763637
In a laboratory experiment, we measure subjects’ willingness to pay for a transparently useless decision right …
Persistent link: https://www.econbiz.de/10010764289
environments modify studentsf risk]taking attitudes. In Booth and Nolen (2012b), subjects are in years 10 and 11, while in Booth …
Persistent link: https://www.econbiz.de/10010877772
Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts to capture them. In this review we first analyze the extent to which economic preferences and psychological concepts of personality - such as the Big Five and locus...
Persistent link: https://www.econbiz.de/10010877971
risk and typically need to assume stability of these characteristics over time and across decision domains. We test the … reliability of two choice tasks for eliciting discount rates, risk aversion, and probability weighting and assess the stability of … largely uncorrelated with decisions in other important life domains involving intertemporal trade-offs and risk. …
Persistent link: https://www.econbiz.de/10010856556