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Dimensions of cognitive skills are potentially important but often neglected determinants of the central economic outcomes that shape overall well-being over the life course. There exists enormous variation among households in their rates of wealth accumulation, their holdings of financial...
Persistent link: https://www.econbiz.de/10010269015
education on health behavior is the same between those with and without a learning disability, suggesting that cognition is not …
Persistent link: https://www.econbiz.de/10010500243
emphasizing variables derived from formal decision theory. In a data set on trainee truckers in a large US company, we provide a … comparing the predictive power of measurements derived from personality theory and decision theory for several individual …. Further, decision theory and personality variables are meaningfully related. For example, we confirm that cognitive ability …
Persistent link: https://www.econbiz.de/10010287694
Economic analysis has said little about how an individual's cognitive skills (CS's) are related to the individual's preferences in different choice domains, such as risk-taking or saving, and how preferences in different domains are related to each other. Using a sample of 1,000 trainee truckers...
Persistent link: https://www.econbiz.de/10010268681
"spatial value number" reveals the incompatibility of rationality and aesthetics: the individual urban experience cannot be …
Persistent link: https://www.econbiz.de/10013479445
just obeying and, hence, to be irrational. In this paper we offer a different approach which postulates rationality of all …
Persistent link: https://www.econbiz.de/10011753167
This paper provides a theoretical analysis regarding the rationality of suicide attacks from an economist’s point of … agent might decide to become a suicide bomber – or to announce the attack and defect later. The paper shows why the decision …
Persistent link: https://www.econbiz.de/10011753170
We study the impact of team decision making on market behavior and its consequences for subsequent individual … specific, performance feedback. Some teams even perform better than the best individuals. The experience of team decision …
Persistent link: https://www.econbiz.de/10010294767
We challenge the standard definition of economic rationality as consistency by making use of a novel distinction … between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by … the literature and, as a result, evidence that consistency is a proxy of decision-making ability is often based on …
Persistent link: https://www.econbiz.de/10014327659
choices can be excluded on the basis of a decision maker's v. Neumann-Morgenstern utility function, her knowledge of past … observations, and the assumption of Bayesian rationality. Since no betting strategy is irrational, Bayesianism is useless as a …
Persistent link: https://www.econbiz.de/10010311263