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Do investors optimize, follow heuristics, or listen to experts?

Gehrig, Thomas P.; Güth, Werner; Levínský, René; … - 2008

equal investments in all assets? Further, will agents with probability information be asked and paid for advice on how to …, and even uninformed agents do not invest according to the 1=n-heuristic. Advice is demanded and readily paid for …

Persistent link: https://www.econbiz.de/10010274010

Do investors optimize, follow heuristics, or listen toexperts?

Gehring, Thomas; Güth, Werner; Levinsky, Rene; Popova, Vera - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

investments in all assets? Further, will agentswith probability information be asked and paid for advice on how to invest … agents do notinvest according to the 1=n-heuristic. Advice is demanded and readily paidfor. Surprisingly, clients do not …

Persistent link: https://www.econbiz.de/10005866439

Do investors optimize, follow heuristics, or listen to experts?

Gehrig, Thomas; Güth, Werner; Levinsky, Rene; Popova, Vera - Wirtschaftswissenschaftliche Fakultät, … - 2008

equal investments in all assets? Further, will agents with probability information be asked and paid for advice on how to …, and even uninformed agents do not invest according to the 1/n-heuristic. Advice is demanded and readily paid for …

Persistent link: https://www.econbiz.de/10005090482

The effect of group identity in an investment game

Güth, Werner; Levati, M. Vittoria; Ploner, Matteo - 2005

Persistent link: https://www.econbiz.de/10002596558

Collectively ranking candidates : an axiomatic approach

Güth, Werner - 2011

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...

Persistent link: https://www.econbiz.de/10008991294

Ranking alternatives by a fair bidding rule : a theoretical and experimental analysis

Güth, Werner; Levati, Vittoria M.; Montinari, Natalia - 2012

We introduce a procedurally fair rule to study a situation where people disagree about the value of three alternatives in the way captured by the voting paradox. The rule allows people to select a final collective ranking by submitting a bid vector with six components (the six possible rankings...

Persistent link: https://www.econbiz.de/10009500726

Collectively ranking candidates via bidding in procedurally fair ways

Güth, Werner - In: Theory and decision : an international journal for … 78 (2015) 1, pp. 23-31

Persistent link: https://www.econbiz.de/10010513957

(Non-) behavioral economics: a programmatic assessment

Güth, Werner - 2007

Economic theory has evolved without paying proper attention to behavioral approaches, especially to social, economic, and cognitive psychology. This has recently changed by including behavioral economics courses in many doctoral study programs. Although this new development is most welcome, the...

Persistent link: https://www.econbiz.de/10010263842

Trust in generosity: An experiment of the repeated Yes-No game

Güth, Werner; Otsubo, Hironori - 2014

This paper reports results of a 100-round Yes-No game experiment conducted under the random matching protocol. In contrast to ultimatum bargaining, the responder in the Yes-No game decides whether to accept without knowing the proposer's offer. Although both games have the same solution outcome...

Persistent link: https://www.econbiz.de/10010500156

Learning to bid: An experimental study of bid function adjustments in auctions and fair division games

Güth, Werner; Ivanova, Radosveta; Königstein, Manfred; … - 1999

We examine learning behavior in auctions and Fair division games with independent private values under two different … than single bids. This allows us to examine whether learning is influenced by the structural differences between games. We … find that within the time horizon which we investigate, learning does not drive toward risk neutral equilibrium bidding and …

Persistent link: https://www.econbiz.de/10010310061