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Measuring Individual Risk Attitudes in the Lab: Task or Ask? An Empirical Comparison
Lönnqvist, Jan-Erik; Verkasalo, Markku; Walkowitz, Gari; … - Institut für Weltwirtschaft (IfW) - 2014
the lab — here the amount sent in a trust game (Berg, Dickaut, McCabe, 1995). As it turns out, the measures themselves are … correlations with a Big Five personality measure and is correlated with actual risk-taking behaviour. The results suggest that the …)experiments. Moreover, with respect to behaviour in the trust game, we find a high re-test stability of transfers (? = .70). This further …
Persistent link: https://www.econbiz.de/10010886955
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Measuring Individual Risk Attitudes in the Lab: Task or Ask? An Empirical Comparison
Lönnqvist, Jan-Erik; Verkasalo, Markku; Walkowitz, Gari; … - CESifo - 2014
the lab - here the amount sent in a trust game (Berg, Dickaut, McCabe, 1995). As it turns out, the measures themselves are … correlations with a Big Five personality measure and is correlated with actual risk-taking behaviour. The results suggest that the …. Moreover, with respect to behaviour in the trust game, we find a high re-test stability of transfers (p = .70). This further …
Persistent link: https://www.econbiz.de/10010747220
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African Development,Partnership and Rationality Challenge:An Exposition
NWAOBI, GODWIN - Volkswirtschaftliche Fakultät, … - 2013
Since 1950s, most African nations have gained independence from their colonial powers. Fortunately, independence has brought many changes to these nations and these include multi-party democratic government and western education systems. Unfortunately, the Africa’s economy is the least...
Persistent link: https://www.econbiz.de/10011259767
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Mistakes, Closure and Endowment Effect in Laboratory Experiments
Ratan, Anmol - Department of Econometrics and Business Statistics, … - 2012
In this paper, we relax the hard closure property of experiments that have been used to study endowment effect in laboratory. We study differences in benchmark environments (hard closure) and an environment that allows participants to reverse the decisions taken in the laboratory (soft closure)....
Persistent link: https://www.econbiz.de/10010987089
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Spatial Coordination in Agglomeration Bonus Schemes with Transaction Costs and Communication: An Experimental Study
Banerjee, Simanti; Cason, Timothy N.; de Vries, Frans P.; … - Environmental Economics Research Group, Department of … - 2015
Agglomeration Bonus (AB) schemes reward private landowners to spatially coordinate land use decisions to enhance the supply of ecosystem services. The AB mechanism creates a coordination game with multiple Pareto ranked Nash equilibria, which correspond to different spatially-coordinated land...
Persistent link: https://www.econbiz.de/10011272878
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Anticipated Regret or Endowment effect? A Reconsideration of Exchange Asymmetry in Laboratory Experiments
Ratan, Anmol - Department of Econometrics and Business Statistics, … - 2013
In simple exchange experiments participants have been reported to trade their endowments with similar objects less frequently than predicted by the neoclassical demand theory. Recent research has indicated that the experimental support for exchange asymmetry is fragile in alternative...
Persistent link: https://www.econbiz.de/10010736873
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Social Reference Points and Risk Taking
Schwerter, Frederik - University of Bonn, Germany - 2013
This study test whether social reference points impact individual risk taking. In a laboratory experiment, decision makers observe the earnings of a peer subject before making a risky choice. We exogenously manipulate the peer earnings across two treatments. We find a signicant treatment effect...
Persistent link: https://www.econbiz.de/10010747863
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Confucianism and Preferences: Evidence from Lab Experiments in Taiwan and China
Liu, Elaine M.; Meng, Juanjuan; Wang, Joseph Tao-yi - Institute for the Study of Labor (IZA) - 2013
This paper investigates how Confucianism affects individual decision making in Taiwan and in China. We found that Chinese subjects in our experiments became less accepting of Confucian values, such that they became significantly more risk loving, less loss averse, and more impatient after being...
Persistent link: https://www.econbiz.de/10010884344
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Confucianism and Preferences: Evidence from Lab Experiments in Taiwan and China
Liu, Elaine M.; Meng, Juanjuan; Wang, Joseph - Department of Economics, University of Houston - 2013
This paper investigates how Confucianism affects individual decision making in Taiwan and in China and whether the Cultural Revolution in China, which denounced Confucian teaching, has had a long-lasting impact. We found that Chinese subjects in our experiments became less accepting of Confucian...
Persistent link: https://www.econbiz.de/10010679662
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Trust games: A meta-analysis
Johnson, Noel D.; Mislin, Alexandra A. - In: Journal of Economic Psychology 32 (2011) 5, pp. 865-889
We collect data from 162 replications of the Berg, Dickhaut, and McCabe Investment game (the “trust” game) involving … protocols and geographic variation on this popular behavioral measure of trust and trustworthiness. Our findings indicate that … less in trust games conducted in Africa than those in North America. …
Persistent link: https://www.econbiz.de/10011051385