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population for our experiment. By presenting subjects with choice tasks that vary the bias induced by random choices, we are able … allowing for heterogeneity of noise yields no significant relation between risk aversion and cognitive ability. Our results …
Persistent link: https://www.econbiz.de/10013208638
decision noise leads to bias in most elicitation tasks, there is a risk of falsely interpreting noise-driven relationships as … an economic experiment with subjects from all walks of life, that using structural estimation that models heterogeneity … of noise in combination with a balanced design allows us to mitigate the bias problem. Our estimations show that …
Persistent link: https://www.econbiz.de/10012615426
population for our experiment. By presenting subjects with choice tasks that vary the bias induced by random choices, we are able … allowing for heterogeneity of noise yields no significant relation between risk aversion and cognitive ability. Our results …
Persistent link: https://www.econbiz.de/10010320403
We perform a comparative analysis of five incentivized tasks used to elicit risk preferences. Theoretically, we compare the elicitation methods in terms of completeness of the range of the estimates as well as their precision, the likelihood of triggering loss aversion, and problems arising when...
Persistent link: https://www.econbiz.de/10010291845
We perform a comparative analysis of five incentivized tasks used to elicit risk preferences. Theoretically, we compare the elicitation methods in terms of completeness of the range of the estimates as well as their precision, the likelihood of triggering loss aversion, and problems arising when...
Persistent link: https://www.econbiz.de/10010294939
It has been shown that subjects tend to follow others' behavior even when the external signals are uninformative. In this paper we go one step further, showing that conformism occurs even when the choices of others are not even presented to the subjects, but just indirectly perceived. We use the...
Persistent link: https://www.econbiz.de/10010531723
Gender differences in risk attitudes are frequently observed, although recent literature has shown that they are context dependent rather than ubiquitous. In this paper we try to rationalize the heterogeneity of results investigating experimentally whether the presence of a safe option among the...
Persistent link: https://www.econbiz.de/10011744505
experiment. The training technique we consider is a well-known psychological technique called "mindfulness", which is believed to … improve self-control and reduce stress. We conduct the experiment with 139 participants, half of whom receive a four …
Persistent link: https://www.econbiz.de/10011524950
I examine how financial incentives interact with intrinsic motivation and especially cognitive abilities in explaining heterogeneity in performance. Using a forecasting task with varying cognitive load, I show that the effectiveness of high-powered financial incentives as a stimulator of...
Persistent link: https://www.econbiz.de/10010276433
We extend evidence on the interaction between financial incentives and cognitive abilities by focusing on the effect of task-specific abilities. In a memory-intensive task situated in an accounting context, the effect of accounting education on performance is stronger under financial incentives...
Persistent link: https://www.econbiz.de/10010286455