A vast literature shows that individuals frequently violate normative principles in reasoning. In evaluatingthe relevance of these findings for psychology, economics, and related disciplines, it is natural to askwhether reasoning errors reflect random aberrations or systematic biases. One...

Behavioral (e.g. consumption) patterns of boundedly rational agents can lead these agents intolearning dynamics that appear to be “wasteful” in terms of well-being or welfare. Within settingsdisplaying preference endogeneity, it is however still unclear how to conceptualize well-being.This...

We study the nature of dominance violations in three minimalist dominance-solvable guessing games, featuring two or three players choosing among two or three strategies. We examine how subjects’ reported reasoning translates into their choices and beliefs about others’ choices, and how...

Die kognitive Psychologie beschäftigt sich u.a. mit der Frage nach Speicherung inund Abruf von Wissensinhalten aus dem Gedächtnis. Zur Beschreibung der Phänomene werdenkonnektionistische, propositionale und konzeptuelle Ansätze gemacht, die dann empirisch verifiziertwerden. Die vorliegende...

Sie nehmen ihr Umfeld wahr, werten Informationen aus und reagieren darauf: Die Leistung visionärer Logistiksysteme steigt mit der künstlichen Kognitivität....

The present paper analyses a broad range of one- and multifactor models of the term structure of interest rates. We assess the influence of the number of factors, mean reversion, and the factor probability distributions on the term structure shapes the models generate, and use spread options as...