Showing 1 - 10 of 64
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
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
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
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
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
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
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
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
In two-person generosity games the proposer's agreement payoffis exogenously given whereas that of the responder is endogenouslydetermined by the proposer's choice of the pie size. Earlier resultsfor two-person generosity games show that participants seem to caremore for eciency than for equity....
Persistent link: https://www.econbiz.de/10005870886
One-shot interaction and repeated interaction often co-exist in the real world. We study possible behavioral effects of this co-existence in a principal-agent setting, in which a principal simultaneously employs a permanent and a temporary agent. Our experimental results indicate that there is...
Persistent link: https://www.econbiz.de/10005870887