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experiments. One explanation for this hypothetical bias which has been put forward is that participants use high willingness …
Persistent link: https://www.econbiz.de/10012898702
Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers nevertheless the self-selected portfolio. After being randomly assigned to groups of four...
Persistent link: https://www.econbiz.de/10011408429
willingness to pay (WTP) are sensitive to time pressure and cognitive load levels in practice. An experiment with 233 students is …
Persistent link: https://www.econbiz.de/10010357015
With a laboratory experiment, we study the impact of buy-options and the corresponding buy-price on revenues and …
Persistent link: https://www.econbiz.de/10011453215
In this paper we introduce a new type of experiment that combines the advantages of lab and field experiments. The … experiment is conducted in the lab but using an unchanged market environment from the real world. Moreover, a subset of the … experiment to study seller behavior in online auctions with a Buy-It-Now feature, where early potential bidders have the …
Persistent link: https://www.econbiz.de/10010365897
by the laboratory experiments, provide no proof for that conclusion though, as none of the rules under study beats the …
Persistent link: https://www.econbiz.de/10011166604
Evidence increasingly points to the importance of reference-dependence in predicting consumer behavior. We utilize detailed data from penny auctions, which first appeared as an internet phenomenon in the late 2000's, to uncover how consumers' prior experiences predict their willingness to try a...
Persistent link: https://www.econbiz.de/10012951952
We propose a method to quantify other-regarding preferences in group decisions. Our method is based on revealed preference theory. It measures willingness-to- pay for others’ consumption and willingness-to-pay for equality in consumption by evaluating consumption externalities in monetary...
Persistent link: https://www.econbiz.de/10011801805
"anchoring" phenomenon in the field. The first experiment produces evidence that inexperienced consumers can be anchored in the … experiment finds that anchors have only transient effects on prices and quantities traded: aggregate market outcomes converge to …
Persistent link: https://www.econbiz.de/10014182869
choice, more generally, an experiment is conducted. In each task, subjects are made to search the same information in one of …
Persistent link: https://www.econbiz.de/10014143757