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Overconfidence in Investment Decisions: An Experimental Approach

Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - 2001

In this paper the authors experimentally test overconfidence in investment decisions by ordering participants the possibility to substitute their own for alternative investment choices.

Persistent link: https://www.econbiz.de/10005845213

Scenario-Based Satisficing in Saving:A Theoretical and Experimental Analysis

Güth, Werner; Levati, Maria Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

Contrary to the models of deterministic life cycle saving, we take itfor granted that uncertainty of one's future is the essential problem ofsaving decisions. However, unlike the stochastic life cycle models, we capturethis crucial uncertainty by a non-Bayesian scenario-based...

Persistent link: https://www.econbiz.de/10005866571

Satisficing or Optimizing?An Experimental Study

Fellner, Gerlinde; Güth, Werner; Martin, Ev - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

This experimental study investigates whether individuals preferbounded rationality over rational choice theory when facing simpleinvestment tasks. First, participants state some personal parametersthat serve as an input to render a theoretical approach, namelysatisficing or optimality,...

Persistent link: https://www.econbiz.de/10005866712

Is Satisficing Absorbable?An Experimental Study

Güth, Werner; Levati, M. Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

We experimentally investigate whether the satisficing approach isabsorbable, i.e., whether it still applies after participants become awareof it. In a setting where an investor decides between a riskless bondand either one or two risky assets, we familiarize participants with thesatisficing...

Persistent link: https://www.econbiz.de/10005866714

Task Transcending Satisficing - An Experimental Study

Fellner, Gerlinde; Güth, Werner; Martin, Ev - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

The paper explores the applicability of the satisficing approach. Inparticular, we investigate whether basic principles of aspiration formationand satisficing behavior are transferable between similar situations.Individuals are sequentially confronted with two risky investmenttasks, a simple and...

Persistent link: https://www.econbiz.de/10005866716

On the social dimension of time and risk preferences:An experimental study

Güth, Werner; Levati, Maria Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik <Jena> - Abteilung …

We report on an experiment designed to explore the interrelation of otherregardingconcerns with attitudes towards risk and delay when the latterhave a social dimension, i.e., pertain to one's own and another person'spayos. For this sake, we compare evaluations of several prospects, eachof which...

Persistent link: https://www.econbiz.de/10005866823

Overconfidence in Investment Decisions:An Experimental Approach

Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2001

We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices.Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...

Persistent link: https://www.econbiz.de/10005867326

Are we nice(r) to nice(r) people? An Experimental Analysis

Albert, Max; Güth, Werner; Kirchler, Erich; … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2002

by allowing participants to condition their choices in an asymmetric prisoner's dilemma and a trust game (i) on their …

Persistent link: https://www.econbiz.de/10005867074

Searching for the Entrepreneurial Personality:New Evidence and Avenues for Further Research

Caliendo, Marco; Kritikos, Alexander - Institut zur Zukunft der Arbeit <Bonn> - 2011

What makes the entrepreneurial personality is the key question we seek to answer in thespecial issue of the Journal of … Economic Psychology on “Personality and Entrepreneurship”.The contributions are clustered around questions regarding the … linkage between personality,socio-economic factors and entrepreneurial development. Results further explain the genderpuzzle …

Persistent link: https://www.econbiz.de/10009353909

Trust, Positive Reciprocity, and Negative Reciprocity:Do These Traits Impact Entrepreneurial Dynamics?

Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander - Institut zur Zukunft der Arbeit <Bonn> - 2010

Experimental evidence reveals that there is a strong willingness to trust and to act in bothpositively and negatively …, andbuyers, as well as needing to trust others and reciprocate with their network. We base ouranalysis on the German Socio …) thewillingness to trust other people influences the probability of starting a business; ii) trust,positive reciprocity, and negative …

Persistent link: https://www.econbiz.de/10009360565