a decision maker can obtain, pay attention to, or absorb, via a Markov Decision Process for Information Choice (MIC). An … MIC is a subjective decision process that specifies what type of information about the payoff-relevant state is feasible …

We examine whether biases identified in the behavioral-economics literature apply in decision-making for others (DMfO …). We conduct a laboratory experiment in which subjects make decision on behalf of themselves and others in eighteen tasks …

and influencing financial decision-making. The chapter explores major cognitive biases that commonly lead to mistakes in …

expect a decision maker to distinguish between different time periods or different prizes? Our key premise is that cognitive …

We examine whether biases identified in the behavioral-economics literature apply in decision-making for others (DMfO …). We conduct a laboratory experiment in which subjects make decision on behalf of themselves and others in eighteen tasks …

. Accordingly, except for very simple specifications, this problem cannot (practically) be solved. Decision makers facing this … problem presumably resort to “sensible” decision heuristics, employing past experience and, perhaps, what they know about the …

performance of a number of heuristic decision rules for discount factors from 0.7 to 0.99 via simulation in the context of a small …

status of economic models of decision making and their theoretical components, such as the concept of preference. In this …

and decision time. Overall, the data show that more people follow the default if the nudge is made transparent. More … importantly, though, effects of transparency differ depending on whether people are fast or slow in their decision making. In … particular, (only) slow decision makers react more positively (keeping the default) if nudging is made transparent. Moreover, the …