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This paper reviews some of the economic experimental evidence on conformism. There is nothing to match the early psychology experiments where subjects were often swayed by the behaviour of others to an extraordinary degree, but there is plenty of evidence of conformism. This seems built-in to...
Persistent link: https://www.econbiz.de/10010357371
In past decades, significant work in behavioural economics has decisively revealed the limitations of the human agency model known as Homo Economicus, whereby humans are purely driven by material self-interest.1 These behavioural findings are, however, far from integrated in mainstream economic...
Persistent link: https://www.econbiz.de/10012617569
Persistent link: https://www.econbiz.de/10011560976
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We present a theory of context-dependent risk preferences under which within-state payoff comparisons and regret … predictions with an online experiment, including comparative statics results. We find strong evidence for the attraction and the …
Persistent link: https://www.econbiz.de/10015182570
monetary payoffs in an incentive-compatible experiment, but not between payoffs at two future points in time. Third, the survey …
Persistent link: https://www.econbiz.de/10012930667
these shortcomings. First, participants made standard decisions under risk rather than facing unfamiliar alternatives …
Persistent link: https://www.econbiz.de/10012913142
This paper reviews some of the economic experimental evidence on conformism. There is nothing to match the early psychology experiments where subjects were often swayed by the behaviour of others to an extraordinary degree, but there is plenty of evidence of conformism. This seems built-in to...
Persistent link: https://www.econbiz.de/10010230894
policies that encourage active decision-making. In an experiment designed to study passive behavior, we document three main …
Persistent link: https://www.econbiz.de/10012006101