Game and decision theory start from rather strong premises. Preferences, represented by utilities, beliefs represented by probabilities, common knowledge and symmetric rationality as background assumptions are treated as 'given.' A richer language enabling us to capture the process leading to...

Game and decision theory start from rather strong premises. Preferences, represented by utilities, beliefs represented by probabilities, common knowledge and symmetric rationality as background assumptions are treated as “given.” A richer language enabling us to capture the process leading...

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

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...

Ad-hoc contracting allows to quickly react to changes which could be neglected or noticed too late in case of constant contracting. But always deciding anew, e.g., how much and what to order in commercial and what to buy in private life, is too cumbersome. To capture the cognitive burden of...

Like avoiding labor protection laws via foreign subcontractors, banning deception in economic experiments does not exclude experiments with participants in the role of experimenters who, similar to properly incentivized subcontractors, can gain by deceiving those in the role of proper...

Banning deception in economic experiments does not exclude experiments with participants in the role of experimenters who can gain by deceiving those in the role of participants. We compare treatments with and without possible deception by experimenter-participants to test whether deception...

Banning deception in economic experiments does not exclude experiments with participants in the role of experimenters who can gain by deceiving those in the role of participants. We compare treatments with and without possible deception by experimenter-participants to test whether deception...

Banning deception in economic experiments does not exclude experiments with participants in the role of experimenters who can gain by deceiving those in the role of participants. We compare treatments with and without possible deception by experimenter-participants to test whether deception...

Different evaluators typically disagree how to rank different candidates since they care more or less for the various qualities of the candidates. It is assumed that all evaluators submit vector bids assigning a monetary bid for each possible rank order. The rules must specify for all possible...