laboratory. Third, nominalist heuristics are incompatible with expected utility theory which excludes the evaluation stage, and … are also incompatible with prospect theory which assumes that, while the evaluation stage can involve systematic mistakes … model and identify what is a mistake, and b) decision makers can maximise. However, contrary to prospect theory, in the …

rate. The new model is within a broader theory that includes risk effectsnormally excluded, SKAT, the Stages of Knowledge … Ahead Theory. We use SKAT to analyse outliers inour experimental results, and indicate some new directions and foci for … ; IMF ; exchange rate regime ; exchange rate volatility ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; monetary …

mainly recommended by theory and empirical literature. But Cold Turkey may only be superior because it is endogenously … disinflation policy from ex-ante credibility, I run an experiment where a central banker has to decide for a disinflationary …

-conflict model of exchange rate determination, and is within an umbrella theory of Pope, namely SKAT, the Stages of Knowledge Ahead … Theory. SKAT allows for risk effects from stages omitted in normal models, including those from (a) difficulties of agents in … regime ; exchange rate volatility ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; monetary policy ; transparent …

cooperation-conflict model of exchange rate determination. The experiment allows an interpretation within an umbrella theory of … Pope, namely SKAT, the Stages of Knowledge Ahead Theory. Our joint field plus laboratory evidence indicates that official … expected utility and game theory that lacks a), b) and c) and hence lacks a means for economists to understand that exchange …