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Testing the endowment effect for default rules
Marcin, Isabel; Nicklisch, Andreas - 2014
This paper explores potential endowment effects of contractual default rules. For this purpose, we analyze the Hadley liability default clause in a model of bilateral bargaining of lotteries against safe options. The liability default clause determines the right for the safe payoff option. We...
Persistent link: https://www.econbiz.de/10010229851
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Sunsets Are for Suckers : An Experimental Test of Sunset Clauses
Underhill, Kristen - 2020
We used a randomized experimental vignette study to assess the effects of sunset clauses and conditional sunset clauses on support for proposed legislation, perceived legitimacy of legislation, and perceived good faith of legislators. In general, we hypothesized that including both types of...
Persistent link: https://www.econbiz.de/10012844263
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Gender Differences in Moral Judgment and the Evaluation of Gender-Specified Moral Agents
Capraro, Valerio - 2017
Whether, and if so, how exactly gender differences are manifested in moral judgment has recently been at the center of much research on moral decision making. Previous research suggests that women are more deontological than men in personal, but not impersonal, moral dilemmas. However, typical...
Persistent link: https://www.econbiz.de/10012955391
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Experimentation and Regulation
Colón-Ríos, Joel I. - 2018
John Dewey popularised the idea that ‘experimentation' might play a valuable role in regulation. This paper examines the complexity of the modern regulatory system from the perspective of learning and experimentation. The author considers the main issues with this idea: firstly, the close...
Persistent link: https://www.econbiz.de/10012935220
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On Experimentation and Real Options in Financial Regulation
Spitzer, Matthew L. - 2014
In recent years, financial regulators have come under increasing judicial scrutiny for conducting inadequate cost/benefit assessments in advance of significant reforms. One facet of this scrutiny is judicial skepticism towards the proper role for regulatory experimentation (and the real option...
Persistent link: https://www.econbiz.de/10013056218
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Against Endowment Theory : Experimental Economics and Legal Scholarship
Klass, Gregory - 2015
Endowment theory holds the mere ownership of a thing causes people to assign greater value to it than they otherwise … would. The theory entered legal scholarship in the early 1990s and quickly eclipsed other accounts of how ownership affects … results, however, suggest that the empirical evidence for endowment theory is weak at best. When the procedures used in …
Persistent link: https://www.econbiz.de/10013035917
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Strategic Mechanisms, Functional Modeling and Experimental Design in Neurolaw
Goodenough, Oliver R. - 2009
is to focus on game theory and mechanism design, which provide useful analytic starting points for applying cognitive …
Persistent link: https://www.econbiz.de/10014205768
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Reactions to Decisions with Uncertain Consequences : Reliance on Perceived Fairness versus Predicted Outcomes Depends on Knowledge
See, Kelly E. - 2009
determine the extent to which they will support the change. Integrating the social justice and behavioral decision theory …
Persistent link: https://www.econbiz.de/10014211571
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Endowment Effects in Chimpanzees
Brosnan, Sarah F.; Jones, Owen D.; Lambeth, Susan P.; … - 2020
Human behavior is not always consistent with standard rational choice predictions. The much-investigated variety of apparent deviations from rational choice predictions provides a promising arena for the merger of economics and biology. Although little is known about the extent to which other...
Persistent link: https://www.econbiz.de/10014219014
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Covenants Without Swords : Group Identity, Norms, and Communication in Social Dilemmas
Bicchieri, Cristina - 2002
In one-shot social dilemma experiments, cooperation rates dramatically increase if subjects are allowed to communicate before making a choice. There are two possible explanations for this "communication effect". One is that communication enhances group identity, the other is that communication...
Persistent link: https://www.econbiz.de/10014122929