In this paper I consider a complex decision problem where subjects have to cope with a time horizon of uncertain … economic theory suggests to solve the decision problem. But since real decision makers can hardly be expected to behave …

This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show … low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision … behaviour ; decision-making experiments …

opportunity to sell the lottery in the second stage of the decision problem. These findings cast doubts on the suitability of the … random price mechanism for truthful revelation of willingness to pay in sequential decision problems …

Käufern, da reale Käufer im Experiment das Preissetzungsverhalten des Monopolisten einschränken. …