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Using a field experiment eliciting the risk preferences of 490 9th and 11th grade students from a variety of school …
Persistent link: https://www.econbiz.de/10014180235
Both economists and psychologists are interested in understanding decision making under uncertainty. Yet, they rely on different concepts to analyse human behaviour: Economists use economic preference parameters rooted in utility theory, while psychologists use personality traits to describe...
Persistent link: https://www.econbiz.de/10012851581
We test the effects of dual processing differences in both individual traits and decision states on risk taking. In an … experiment with a large representative sample (N = 1,832), we vary whether risky choices are induced to be based on either … emotion or reason, while simultaneously measuring individual decision-making traits. Our results show that decision …
Persistent link: https://www.econbiz.de/10012118611
We introduce DOSE - Dynamically Optimized Sequential Experimentation - to elicit preference parameters. DOSE starts with a model of preferences and a prior over the parameters of that model, then dynamically chooses a customized question sequence for each participant according to an...
Persistent link: https://www.econbiz.de/10015071065
Persistent link: https://www.econbiz.de/10003934159
Persistent link: https://www.econbiz.de/10010227133
The prior paper in this sequel, Pope (2009) introduced the concept of a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. In this paper the concept is used to show three things in how scientists and practitioners analyse and evaluate to decide (conclude). First,...
Persistent link: https://www.econbiz.de/10010274186
. -- nominalism ; money illusion ; heuristic ; unpredictability ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; prominent …
Persistent link: https://www.econbiz.de/10003867227
Intuition can lead to more effective decision-making than analysis under certain conditions. This assumption can be regarded as common sense. However, dominant research streams on intuition effectiveness in decision-making conceptualize intuition inadequately, because intuition is considered...
Persistent link: https://www.econbiz.de/10012029308
(one field, two laboratory) through which we test a theoretical model and some informal extensions. Specifically, we …
Persistent link: https://www.econbiz.de/10013155836