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Experimental evidence on the benefits of eliminating exchange rate uncertainties and why expected utility theory causes economists to miss them

Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - In: Indian journal of economics & business : IJEB 7 (2008) 1, pp. 1-31

Persistent link: https://www.econbiz.de/10003728352

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, … - 2009

The prior paper in this sequel, Pope (2009) introduced the concept of a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. In this paper the concept is used to show three things in how scientists and practitioners analyse and evaluate to decide (conclude). First,...

Persistent link: https://www.econbiz.de/10003867227

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; Hagen, … - 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/10003906415

Dealing with dynamic decision problems when knowledge of the environment is limited : an approach based on goal systems

Selten, Reinhard; Pittnauer, Sabine; Hohnisch, Martin - In: Journal of behavioral decision making 25 (2012) 5, pp. 443-457

Persistent link: https://www.econbiz.de/10009686580

Gender differences in decisions under profound uncertainty are non-robust to the availability of information on equally informed others' decisions

Hohnisch, Martin; Pittnauer, Sabine; Selten, Reinhard; … - In: Journal of economic behavior & organization : JEBO 108 (2014), pp. 40-58

Persistent link: https://www.econbiz.de/10011296532

Bounded rationality : the adaptive toolbox

Gigerenzer, Gerd (ed.); Selten, Reinhard (contributor) - 2002 - 1. MIT Press paperback ed.

Rethinking rationality / Gerd Gigerenzer and Reinhard Selten -- What is bounded rationality? / Reinhard Selten -- The adaptive toolbox / Gerd Gigerenzer -- Fast and frugal heuristics for environmentally bounded minds / Peter M. Todd -- Evolutionary adaptation and the economic concept of bounded...