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We analyze subjects' eye movements while they make decisions in a series of one-shot games. The majority of them perform a partial and selective analysis of the payoff matrix, often ignoring the payoffs of the opponent and/or paying attention only to specific cells. Our results suggest that...
Persistent link: https://www.econbiz.de/10009709528
This paper studies how people make inference about a state of the world when the information structure includes additional, payoff-irrelevant states. For example, learning about effort from observed performance may require accounting for the otherwise irrelevant role of luck. This creates an...
Persistent link: https://www.econbiz.de/10012827647
points. The implications of this model are tested in an experiment in which participants have to make a consumption choice …
Persistent link: https://www.econbiz.de/10010339388
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A literal interpretation of neo-classical consumer theory suggests that the consumer solves a very complex problem. In …
Persistent link: https://www.econbiz.de/10013026731
Persistent link: https://www.econbiz.de/10010490896
Online platforms provide search tools that help consumers to get betterfitting product offers. But this technology makes consumer search behavior also easily traceable for the platform and allows for real-time price discrimination. Consumers face a trade-off: Search intensely and receive better...
Persistent link: https://www.econbiz.de/10011737481
Fungibility of money is a central assumption in the theory of consumer choice: any unit of money is substitutable for … another. This implies that the composition of income or wealth is irrelevant for consumption. We find in a field experiment … of their budget, subjects change consumption according to the label. A controlled laboratory experiment confirms this …
Persistent link: https://www.econbiz.de/10008699736
amount spent. Using a field experiment, we test if mobile self-scanning affects shopping behavior. Consumers of two grocery …
Persistent link: https://www.econbiz.de/10012942163
We propose a broadly applicable empirical approach to classify individuals as time-consistent versus naïve or sophisticated regarding their self-control limitations. Operationalizing our approach based on nationally representative data reveals that self-control problems are pervasive and that...
Persistent link: https://www.econbiz.de/10012600894