This article reports data from a questionnaire study indicating that in a consumer choice problem, additional choice options can cause a tangible disutility that people prefer to avoid if the additional options exhibit features that conflict with those of the old ones, for example, lottery...

The provision of public goods is often hindered by a lack of powerful institutions that can sanction free riders or otherwise enforce private contributions to the public good. The simple deposit based solution introduced by Gerber and Wichardt (J Public Econ 93:429–439, <CitationRef CitationID="CR11">2009</CitationRef>) solves this...</citationref>

A global signaling game is a sender-receiver game in which the sender is only imperfectly informed about the receiver's preferences. The paper considers an economically relevant class of signaling games that possess more than one Perfect Bayesian equilibrium. For this class of games, it is shown...

This paper compares two prominent empirical measures of individual risk attitudes - the Holt and Laury (2002) lottery-choice task and the multi-item questionnaire advocated by Dohmen, Falk, Huffman, Schupp, Sunde and Wagner (2011) - with respect to (a) their within-subject stability over time...

This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate authority to a potentially biased but better informed agent. Assuming the agents’ outside option to be determined by market beliefs about their type, interim evaluations (a) provide...

This paper proposes a bounded rationality approach to model equilibrium play in games. It is based on the observation that decision makers often do not seem to fully distinguish between different but seemingly similar decisions and tend to treat such similar decisions in a standardised/habitual...

In this paper, we show that moderate overconfidence in a contest can improve the agent's performance relative to an unbiased opponent and even lead to an advantage in absolute terms.