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Prices as indicators of scarcity - anexperimental study of a multistageauction
McDaniel, Tanga; Nicklisch, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
The price mecanism is the primary means of information transferin decentralized economic systems. High prices indicate highdemand, whereas low prices indicate low demand. Thus prices arethe signals for accelerating or slowing production. However, usingsequential, multi-unit auctions, we show...
Persistent link: https://www.econbiz.de/10005866772
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Measuring Individual Risk Attitudes in the Lab: Task orAsk? An Empirical Comparison
Lönnqvist, Jan-Erik; Verkasalo, Markku; Walkowitz, Gari; … - Cologne Graduate School in Management, Economics and … - 2011
This paper compares two prominent empirical measures of individualrisk attitudes | the Holt and Laury (2002) lottery-choice task and the multi-itemquestionnaire advocated by Dohmen, Falk, Human, Schupp, Sunde and Wagner(forthcoming) | with respect to (a) their within-subject stability over time...
Persistent link: https://www.econbiz.de/10009302654
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Valuing Protection against Low Probability,High Loss Risks: Experimental Evidence
Morone, Andrea; Ozdemir, Ozlem - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
measure,(3)calculates relative risk aversion. The results of the experiment indicate that as theprobability of loss and loss … than to the variation in loss amountswhen they decide whether to buy the protective measure or not: choice decision. Yet …, theopposite is true when they decide the amount of willingness to pay for buying the protectivemeasure: payment decision. In …
Persistent link: https://www.econbiz.de/10005866644
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Individual and Couple Decision Behavior under Risk:The Power of Ultimate Control
de Palma, André; Picard, Nathalie; Ziegelmeyer, Anthony - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
This paper reports results of an experiment designed to analyze the link between riskydecisions made by couples and … decision process that takes place when couples make risky decisions. We find that in mostcouples men have more decision …-making power than women and that women’s decision-makingpower increases when they ultimately implement the joint decisions. …
Persistent link: https://www.econbiz.de/10005866693
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Illusion of control as a source of poor diversification: Anexperimental approach
Fellner, Gerlinde - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
This paper investigates factors influencing individual portfolio allocations withparticular focus on the role of illusion of control. By forming their portfolio of tworisky lotteries and one risk-less alternative, subjects are requested to reach a targetinvestment profit, whereby equal...
Persistent link: https://www.econbiz.de/10005866777
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Do Individuals Recognize Cascade Behavior of Others? - An Experimental study
Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
In a cascade experiment subjects are confronted with artificial predecessors prdecting in line with the BHW model …
Persistent link: https://www.econbiz.de/10005866980
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Does Cascade Behavior Reflect Bayesian Updating? - An Experimental Study
Oberhammer, Clemens; Stiehler, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
We examine the explanatory power of cascade models by implementing the BDM-mechanism in a simple cascade experiment in … decision errors. Focusing on stated price limits corresponding to urn predictions in line with both, standard and error BHW …
Persistent link: https://www.econbiz.de/10005866982
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Overconfidence in Investment Decisions:An Experimental Approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2001
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
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Pay-What-You-Want –Praxisrelevanz und Konsumentenverhalten
Kim, Ju-Young; Natter, Martin; Spann, Martin - Universität <Frankfurt, Main> / Lehrstuhl für … - 2010
Pay-What-You-Want (PWYW) is a participative pricing mechanism which is characterizedby the fact that consumers have maximum control over the price they pay. We discuss thebusiness relevance of PWYW and extend the findings of Kim et al. (2009) using latentclass regression. Two different classes...
Persistent link: https://www.econbiz.de/10009418711
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„Defensive bids“ für Staatsanleihen – eine Marktmanipulation?
Schmidtbleicher, Roland; Cordalis-Nguyen, Anh-Duc - Institute for Law and Finance <Frankfurt, Main> - 2007
Der vorstehende Beitrag hat untersucht, ob die Praxis, „defensive bids“ inStaatsanleiheauktionen abzugeben oder die Veröffentlichung einer künstlich erhöhten „Bid toCover-Ratio“ durch die Emittenten von Staatsanleihen sowie ihre „Primary Dealers“ eineverbotene Marktmanipulation im...
Persistent link: https://www.econbiz.de/10005869927