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Chapter 8 The Economics of Fairness, Reciprocity and Altruism Experimental Evidence and New Theories
Fehr, Ernst; Schmidt, Klaus M. - In: Handbook of the economics of giving, altruism and …, (pp. 615-691). 2006
Most economic models are based on the self-interest hypothesis that assumes that material self-interest exclusively motivates all people. Experimental economists have gathered overwhelming evidence in recent years, however, that systematically refutes the self-interest hypothesis, suggesting...
Persistent link: https://www.econbiz.de/10014023675
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The economics of fairness, reciprocity and altruism : experimental evidence and new theories ; chapter written for the Handbook of reciprocity, gift-giving and altruism
Fehr, Ernst; Schmidt, Klaus M. - 2005 - This version: June 6, 2005
Persistent link: https://www.econbiz.de/10010371081
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The rapid evolution of homo economicus : brief exposure to neoclassical assumptions increases self-interested behavior
Ifcher, John; Zarghamee, Homa S. - 2016
Economics students have been shown to exhibit more selfishness than other students. Because the literature identifies the impact of long-term exposure to economics instruction (e.g., taking a course), it cannot isolate the specific course content responsible; nor can selection, peer effects, or...
Persistent link: https://www.econbiz.de/10011528153
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The behavioural mechanisms of voluntary cooperation in WEIRD and non-WEIRD societies
Weber, Till O.; Beranek, Benjamin; Gächter, Simon; … - 2021
We provide a framework to uncover behavioural mechanisms driving potential cross-societal differences in voluntary cooperation. We deploy our framework in one-shot public goods experiments in the US and the UK, and in Morocco and Turkey. We find that cooperation is higher in the US and UK than...
Persistent link: https://www.econbiz.de/10012549763
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Homo Æqualis : A Cross-Society Experimental Analysis of Three Bargaining Games
Barr, Abigail; Ensminger, Jean; Henrich, Joe; Wallace, Chris - 2009
between theory and data: uncertainty and preferences relating to acts of vengeance may have influenced play in the Ultimatum …
Persistent link: https://www.econbiz.de/10014203011
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Behavioral Game Theory : Thinking, Learning and Teaching
Camerer, Colin; Ho, Teck; Chong, Kuan - 2002
This paper describes a parametric approach to weakening rationality assumptions in game theory to fit empirical data … better. The central features of game theory are: The concept of a game (players, strategies, information, timing, outcomes … consistency and foresight properties, while retaining much of the structure and hence the precision of game theory. One parameter …
Persistent link: https://www.econbiz.de/10014121757
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Rational Reasoning or Adaptive Behavior? Evidence from Two-Person Beauty Contest Games
Grosskopf, Brit; Nagel, Rosemarie - 2008
from game theory is because subjects are rational, but doubt that others are rational as well, compared to the argument …
Persistent link: https://www.econbiz.de/10014034691
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Chapter 10. Behavioral Game Theory Experiments and Modeling
Camerer, Colin F.; Ho, Teck-Hua - In: Handbook of game theory with economic applications : …, (pp. 517-573). 2015
This chapter reviews recent experimental data testing game theory and behavioral models that have been inspired to …
Persistent link: https://www.econbiz.de/10014025449
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Social status and risk-taking in investment decisions
Lindner, Florian; Kirchler, Michael; Rosenkranz, Stephanie - 2019
A pervasive feature in the finance industry is relative performance, which can include extrinsic (money), intrinsic (self-image), and reputational (status) motives. In this paper, we model a portfolio decision with two assets and investigate how reputational motives (i.e., the public...
Persistent link: https://www.econbiz.de/10012001790
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Social status and risk-taking in investment decisions
Lindner, Florian; Kirchler, Michael; Rosenkranz, Stephanie - 2019
A pervasive feature in the finance industry is relative performance, which can include extrinsic (money), intrinsic (self-image), and reputational (status) motives. In this paper, we model a portfolio decision with two assets and investigate how reputational motives (i.e., the public...
Persistent link: https://www.econbiz.de/10012008982