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Manipulating reference states: The effect of attitudes on utility
Matthey, Astrid - 2008
In economic theory, utility depends on past, present and future outcomes. The experiment described in this paper … suggests that utility also depends on people's attitudes, and that it can easily be manipulated through these attitudes. The … results imply, first, that purely outcome-based models of individual utility may be incomplete. Second, that reference …
Persistent link: https://www.econbiz.de/10010263885
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The influence of priming on reference states
Matthey, Astrid - In: Games 1 (2010) 1, pp. 34-52
Experimental and empirical evidence shows that the utility an individual derives from a certain state depends on the … outcomes of either the individual herself or her reference group. The experiment described in this paper suggests that, in … reference states - and hence utility - can relatively easily be influenced without changing people’s outcomes, e.g., through …
Persistent link: https://www.econbiz.de/10009751388
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Axiom preferences and choice mistakes under risk
Herweg, Fabian; Hippel, Svenja; Müller, Daniel; … - 2024
almost half of our subjects. Among those, roughly 24% are rational expected utility maximizers, 24% make occasional mistakes …
Persistent link: https://www.econbiz.de/10014578322
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Eliciting utility curvature in time preference
Cheung, Stephen L. - 2019
This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount … the Holt and Laury method for risk. The results demonstrate that utility elicited directly from choice over time is … significantly concave, but far closer to linear than utility elicited under risk. As a result, the effect of adjusting discount …
Persistent link: https://www.econbiz.de/10012062699
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Measuring price risk aversion through indirect utility functions : a laboratory experiment
Zeytoon-Nejad, Ali - In: Games 13 (2022) 4, pp. 1-43
prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper … in the mainstream of experimental economics. Indeed, the DT in modern microeconomics indicates that the direct utility … experiment using a series of relevant statistical tests. This study uses the multiple price list (MPL) method, which has been one …
Persistent link: https://www.econbiz.de/10013368182
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Axiom preferences and choice mistakes under risk
Herweg, Fabian; Hippel, Svenja; Müller, Daniel; … - 2024
almost half of our subjects. Among those, roughly 24%are rational expected utility maximizers, 24% make occasional mistakes …
Persistent link: https://www.econbiz.de/10014556632
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General revealed preference tests of weak separability and utility maximization with incomplete adjustment
Hjertstrand, Per; Swofford, James L.; Whitney, Gerald A. - 2020
Boards hire and fire CEOs based on imperfect information. Using comprehensive data on 28 cohorts in Sweden, we analyze the role of a potentially important unobserved attribute - CEO health - in corporate governance. We find CEOs are significantly healthier than the population and other highskill...
Persistent link: https://www.econbiz.de/10012181126
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Epictetusian rationality
Ponthière, Grégory - 2022
According to Epictetus, mental freedom and happiness can be achieved by distinguishing between, on the one hand, things that are upon our con- trol (our acts, opinions and desires), and, on the other hand, things that are not upon our control (our body, property, offi ces and reputation), and by...
Persistent link: https://www.econbiz.de/10013455831
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Eliciting Utility Curvature in Time Preference
Cheung, Stephen L. - 2019
This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount … the Holt and Laury method for risk. The results demonstrate that utility elicited directly from choice over time is … significantly concave, but far closer to linear than utility elicited under risk. As a result, the effect of adjusting discount …
Persistent link: https://www.econbiz.de/10012863819
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Why and how identity should influence utility
Wichardt, Philipp C. - 2007 - This Version: January 11, 2007
. Furthermore, we discuss how such a preference can be integrated in the modelling of utility in order to account for the …
Persistent link: https://www.econbiz.de/10010366516