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We assess the empirical validity of the overall theoretical framework of other-regarding preferences by focusing on those preference axioms that are common to all the prominent theories of outcome-based other-regarding preferences. This common set of preference axioms leads to a testable...
Persistent link: https://www.econbiz.de/10009306937
This paper extends Savage's subjective approach to probability and utility from decision problems under exogenous uncertainty to choice in strategic environments. Interactive uncertainty is modeled both explicitly, using hierarchies of preference relations, the analogue of beliefs hierarchies,...
Persistent link: https://www.econbiz.de/10011700273
In prosocial decisions, decision-makers are inherently uncertain about how their decisions impact others' utility - we call this interpersonal uncertainty. We show that people's response to interpersonal uncertainty shapes well-known patterns of prosocial behavior. First, using standard social...
Persistent link: https://www.econbiz.de/10014578386
In prosocial decisions, decision-makers are inherently uncertain about how their decisions impact others’ utility – we call this interpersonal uncertainty. We show that people’s response to interpersonal uncertainty shapes well-known patterns of prosocial behavior. First, using standard...
Persistent link: https://www.econbiz.de/10014576953
Persistent link: https://www.econbiz.de/10003635731
circumstances. In an experiment, US participants judge how much money workers deserve for the effort they exert. Unequal …
Persistent link: https://www.econbiz.de/10014390238
position vis-á-vis others. Taking a bet can improve oneś position relative to others or threaten it. We present an experiment …
Persistent link: https://www.econbiz.de/10009784058
I investigate the decision problem of a player in a game of incomplete information who faces uncertainty about the other players' strategies. I propose a new decision criterion which works in two steps. First, I assume common knowledge of rationality and eliminate all strategies which are not...
Persistent link: https://www.econbiz.de/10011946016
whether this type of behavior persists when risk comes into play. I devise an experiment which sheds light on the …
Persistent link: https://www.econbiz.de/10003824191
whether this type of behavior persists when risk comes into play. I devise an experiment which sheds light on the …
Persistent link: https://www.econbiz.de/10003903038