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Prominent Numbers, Indices and Ratios in Exchange Rate Determination and Financial Crashes: in Economists’ Models, in the Field and in the Laboratory
Pope, Robin; Selten, Reinhard; Kube, Sebastian; von … - 2009
laboratory. Third, nominalist heuristics are incompatible with expected utility theory which excludes the evaluation stage, and … are also incompatible with prospect theory which assumes that, while the evaluation stage can involve systematic mistakes …
Persistent link: https://www.econbiz.de/10010274186
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Nominalist Heuristics and Economic Theory
Pope, Robin; Selten, Reinhard; Kube, Sebastian - 2009
or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are … incompatible with expected utility theory which excludes the evaluation stage, and are also incompatible with prospect theory which … assumes that, while the evaluation procedure can involve systematic mistakes, the overall decision situation is nevertheless …
Persistent link: https://www.econbiz.de/10010270023
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Nominalist Heuristics and Economic Theory
Pope, Robin; Selten, Reinhard; Kube, Sebastian - University of Bonn, Germany - 2009
or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are … incompatible with expected utility theory which excludes the evaluation stage, and are also incompatible with prospect theory which … assumes that, while the evaluation procedure can involve systematic mistakes, the overall decision situation is nevertheless …
Persistent link: https://www.econbiz.de/10004964146
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Prominent Numbers, Indices and Ratios in Exchange Rate Determination and Financial Crashes: in Economists’ Models, in the Field and in the Laboratory
Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - University of Bonn, Germany - 2009
laboratory. Third, nominalist heuristics are incompatible with expected utility theory which excludes the evaluation stage, and … are also incompatible with prospect theory which assumes that, while the evaluation stage can involve systematic mistakes …
Persistent link: https://www.econbiz.de/10004964148
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How Payment Systems Affect Physicians' Provision Behaviour – An Experimental Investigation
Hennig-Schmidt, Heike; Selten, Reinhard; Wiesen, Daniel - 2011
Understanding how physicians respond to incentives from payment schemes is a central concern in health economics research. We introduce a controlled laboratory experiment to analyse the influence of incentives from fee-for-service and capitation payments on physicians’ supply of medical...
Persistent link: https://www.econbiz.de/10010293369
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Learning in experimental 2×2 games
Chmura, Thorsten; Goerg, Sebastian J.; Selten, Reinhard - 2008
In this paper we introduce four new learning models: impulse balance learning, impulse matching learning, action-sampling learning, and payoff-sampling learning. With this models and together with the models of self- tuning EWA learning and reinforcement learning, we conduct simulations over 12...
Persistent link: https://www.econbiz.de/10010270025
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How Payment Systems Affect Physicians' Provision Behaviour – An Experimental Investigation
Hennig-Schmidt, Heike; Selten, Reinhard; Wiesen, Daniel - 2009
A central concern in health economics is to understand the influence of commonly used physician payment systems. We introduce a controlled laboratory experiment to analyze the influence of fee-for-service (FFS) and capitation (CAP) payments on physicians' behaviour. Medical students decide as...
Persistent link: https://www.econbiz.de/10010270417
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The damage from clean floats: From an anti-inflationary monetary policy
Pope, Robin; Selten, Reinhard; Kaiser, Johannes; Kube, … - 2007
The paper traces the dangers in the closed economy perspective of a monetary policy focused on a domestic inflation goal under a clean float. Field evidence of the damage wrought from this perspective is reinforced by that from a laboratory experiment. The laboratory experiment avoids...
Persistent link: https://www.econbiz.de/10010274161
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Managed Floats to Damp Shocks like 1982-5 and 2006-9: Field and Laboratory Evidence for Chinese Interest in a Single World Currency
Pope, Robin; Selten, Reinhard; Kube, Sebastian; von … - 2009
This paper’s field evidence is: (1) many official sectors rapidly forget the damage of the 1982-85 exchange rate liquidity crisis and reverted to what caused that crisis, namely a closed economy clean floats perspective; and (2) the 2006-2008/9 exchange rate liquidity shock would have been more...
Persistent link: https://www.econbiz.de/10010274185
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Learning in experimental 2 x 2 games
Chmura, Thorsten; Goerg, Sebastian J.; Selten, Reinhard - 2011
their results are compared with the results from experimental data. We test whether the models are capable of replicating …
Persistent link: https://www.econbiz.de/10010286719