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Willingness to pay (WTP) is known to be lower for remanufactured products than for comparable new products. Normative work to date has assumed that a consumer's WTP for a remanufactured product is a fraction, called discount factor, of the consumer's WTP for a corresponding new product, and that...
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In this thesis I present three essays in which the influence of heuristics on individual decision making is analyzed … prenatal androgen exposure on loss aversion, as an essential driver of heuristics in financial economics, is analyzed. In … chapter four, we went beyond the heuristics applied by stock investors and experimentally investigate disposition ... …
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This work challenges the very notion of bounded rationality as dangerously too near to some "unbounded rationality" used as a benchmark. Should we assume that there is an "unbounded" rationality as a benchmark? Should one start, in order to describe and interpret human behaviour, from a model...
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rational behaviour (the Heuristics-and-Biases program). Many economists seem unaware that this viewpoint has long been … heuristics need not be irrational, particularly when judged relative to characteristics of the environment. We sketch out the …-Rationality tradition. While the heuristics-and-biases program is, via Behavioural Economics, now well-established in (mainstream neo …
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interactions, players who make their choices fast and intuitively, relying on social heuristics, choose stag more often than other … Heuristics Hypothesis (Rand et al., 2012) applied to stag hunt interactions. …
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