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laboratory experiment that incorporates more aspects of real world complexity and more different sorts of official and private … regime ; exchange rate volatility ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; monetary policy ; transparent …
Persistent link: https://www.econbiz.de/10003906415
experiment. The laboratory experiment avoids measurement errors towhich econometric estimation is subject concerning omitted or … independenceand false synchronicity in decision response lags to stimuli. Our laboratory experiment also embeds a newtheory of … ; IMF ; exchange rate regime ; exchange rate volatility ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; monetary …
Persistent link: https://www.econbiz.de/10003612866
. -- nominalism ; money illusion ; heuristic ; unpredictability ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; prominent …
Persistent link: https://www.econbiz.de/10003867227
field evidence is bolstered by a laboratory experiment. The experiment incorporates more aspects of real world complexity … cooperation-conflict model of exchange rate determination. The experiment allows an interpretation within an umbrella theory of … to unpredicted exchange rate changes. -- managed float ; IMF ; exchange rate regime ; experiment ; SKAT the stages of …
Persistent link: https://www.econbiz.de/10009541016
The great recession (2008) triggered an apparent discrepancy between empirical findings and macroeconomic models based on rational expectations alone. This gap led to a series of recent developments of a behavioral microfoundation of macroeconomics combined with the underlying experimental and...
Persistent link: https://www.econbiz.de/10012231504
The goal of this paper is to show how adding behavioral components to micro-foundated models of macroeconomics may contribute to a better understanding of real world phenomena. The authors introduce the reader to variations of the Keynesian Beauty Contest (Keynes, The General Theory of...
Persistent link: https://www.econbiz.de/10012120039
Myopic loss aversion (MLA) has been established as one prominent explanation for the equity premium puzzle. In this paper we address two issues related to the effects of MLA on risky investment decisions. First, we assess the relative impact of feedback frequency and investment flexibility (via...
Persistent link: https://www.econbiz.de/10010263139
of the experiment indicate that targeting is an effective instrument to promote trustful behavior, whereas subsidy policy …
Persistent link: https://www.econbiz.de/10011339172
To accurately predict behavior economists need reliable measures of individual time preferences and attitudes toward risk and typically need to assume stability of these characteristics over time and across decision domains. We test the reliability of two choice tasks for eliciting discount...
Persistent link: https://www.econbiz.de/10009772925
's interest in controlling who receives their private information. Participants of an experiment face the decision to share …
Persistent link: https://www.econbiz.de/10010350092