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We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005)...
Persistent link: https://www.econbiz.de/10013324818
We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005)...
Persistent link: https://www.econbiz.de/10003747336
Persistent link: https://www.econbiz.de/10013443423
and predominately sell winners. The data suggest that decision-dependent emotions may explain the differences. That is …
Persistent link: https://www.econbiz.de/10011325703
In this paper we relate individual risk attitude as elicited by binary lotteries and certainty equivalents to market behavior. By analyzing 26 independent markets with a total of 280 participants we show that binary lottery choices and certainty equivalents are poorly correlated. Only lottery...
Persistent link: https://www.econbiz.de/10014087733
irrespective of whether the experience is social or not. Our findings are in line with recent evidence on decision making under … various forms of social decision making. Our results suggest that the overall valence of an experience (gain or loss) matters …
Persistent link: https://www.econbiz.de/10012520860
A modern, decision-theoretic framework can help clarify important practical questions of experimental design. Building …, external decision-making remains inherently subjective. We embrace this conclusion and argue that in order to improve external …
Persistent link: https://www.econbiz.de/10014023425
This study investigates the framing effect of experiments that conducted among students. The main aim of this work is to show the results of an experiment conducted in Turkey how could affect behavior of subjects who were students in banking and insurance business studies department. By...
Persistent link: https://www.econbiz.de/10010460138
build consensus around the union's preferred policy. In an experiment that mimics individual decision-making in a collective …
Persistent link: https://www.econbiz.de/10014576648
the challenge of biased experimental decision-making. However, this work also maintains a key simplifying assumption …. This paper shows that while involving stakeholders in experimental decision-making may sometimes improve experimental … between actors. This implies that entrepreneurs will accept the input of other stakeholders in experimental decision …
Persistent link: https://www.econbiz.de/10014348701