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Cognitive sophistication and deliberation times

Alós-Ferrer, Carlos; Buckenmaier, Johannes - 2018

Behavioral heterogeneity arising from cognitive differences among economic agents plays a fundamental role in the economy. To explain this heterogeneity, models of iterative thinking assume that certain choices indicate higher cognitive effort. That is, choices are used to infer the cognitive...

Persistent link: https://www.econbiz.de/10011969203

Cognitive sophistication and deliberation times

Alós-Ferrer, Carlos; Buckenmaier, Johannes - 2019

Differences in cognitive sophistication and effort are at the root of behavioral heterogeneity in economics. To explain this heterogeneity, behavioral models assume that certain choices indicate higher cognitive effort. A fundamental problem with this approach is that observing a choice does not...

Persistent link: https://www.econbiz.de/10012010237

Human and machine: The impact of machine input on decision-making under cognitive limitations

Boyacı, Tamer; Canyakmaz, Caner; de Véricourt, Francis - 2020

The rapid adoption of AI technologies by many organizations has recently raised concerns that AI may eventually replace humans in certain tasks. In fact, when used in collaboration, machines can significantly enhance the complementary strengths of humans. Indeed, because of their immense...

Persistent link: https://www.econbiz.de/10012373281

The Difference Between Saying and Doing: Comparing Subjective and Objective Measures of Effort Among Fifth Graders

Apascaritei, Paula; Demel, Simona; Radl, Jonas - In: American Behavioral Scientist 65 (2021) 11, pp. 1457-1479

The first goal of this study is to examine the capacity of prominent survey-based effort proxies to predict real effort provision in children. Do children who "talk the talk" of hard work also "walk the walk" and make costly effort investments? The second goal is to assess how objective and...

Persistent link: https://www.econbiz.de/10012887351

Do Losses Trigger Deliberative Reasoning?

Carpenter, Jeffrey P.; Munro, David - 2022

There is a large literature evaluating the dual process model of cognition, including the biases and heuristic it implies. To advance this literature, we focus on what triggers decision makers to switch from the intuitive process (aka System 1) to the more deliberative process (aka System 2)....

Persistent link: https://www.econbiz.de/10013351831

Human and machine: The impact of machine input on decision-making under cognitive limitations

Boyacı, Tamer; Canyakmaz, Caner; de Véricourt, Francis - 2022

Persistent link: https://www.econbiz.de/10013464269

Intuitive versus Contemplative: Do Entrepreneurs differ in their Decision-Making Style from Managers and Employees?

Koudstaal, Martin; Sloof, Randolph; van Praag, Mirjam (C.M.) - 2017

We examine in a large survey (n = 1,928) how contemplative entrepreneurs, managers and employees are in their decision making styles. Besides two well-known subjective measures taken from psychology, we also build on Rubinstein (2016) by including two objective measures derived from response...

Persistent link: https://www.econbiz.de/10011819493

Factors affecting the amount of effort expended in responding to questions in behavioural choice experiments

Bonsall, Peter; Lythgoe, Bill - In: Journal of Choice Modelling 2 (2009) 2, pp. 216-236

A brief review of theoretical and empirical literature on the effort expended in making choices is followed by the description of an experiment in which participants were asked to respond to a series of road charging scenarios. Participants were asked to estimate the charges payable, to indicate...

Persistent link: https://www.econbiz.de/10010289596

Discounts and their effects: Economic and legal approach

Funta, Rastislav - In: DANUBE: Law, Economics and Social Issues Review 5 (2014) 4, pp. 277-285

The present article discusses the economic and legal effects of single-product loyalty discounts. It is clear that … arguments concerning the "pro-competitive" effects of such discounts must be judged with skepticism. This applies in particular … to the assumed effects of loyalty discounts resulting from double profit surcharges or falling average costs, as well as …

Persistent link: https://www.econbiz.de/10011922782

Bringing economies of integration into the costing of groupage freight

Brabänder, Christian; Braun, Maximilian - In: Journal of Revenue and Pricing Management 19 (2020) 6, pp. 366-385

The purpose of this paper is to develop a novel calculation scheme for the costs of distribution per shipment according to a cost-by-cause principle. We propose to estimate the full costs of distribution routes excluding and including a new consignor. Then, we estimate the marginal costs per...

Persistent link: https://www.econbiz.de/10014503557