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processes we do not find that those subjects showing ambiguity aversion in an urn experiment based on Halevy (2007 …
Persistent link: https://www.econbiz.de/10010188142
This paper examines the distributional impact of increases to out-of-work transfers, increases to work-contingent transfers, and increases in higher rates of income tax over the whole of life. We find that, in contrast to what is implied by standard snapshot analyses, increases to...
Persistent link: https://www.econbiz.de/10011718891
interact in such situations. In this paper we provide experimental evidence on this question. In a first experiment givers are … the realized state of the world. In a second experiment, risk affects the earnings of givers but not of beneficiaries. We …
Persistent link: https://www.econbiz.de/10011565561
From the perspective of competitors, competition may be modeled as a prisoner's dilemma. Setting the monopoly price is cooperation, undercutting is defection. Jointly, competitors are better off if both are faithful to a cartel. Individually, profit is highest if only the competitor(s) is (are)...
Persistent link: https://www.econbiz.de/10010281843
This short paper demonstrates that the claim of Cumulative Prospect Theory (CPT) that people are risk seeking for loss prospects appears to be merely a result of using a specific form of the probability weighting function to estimate the power factor of the value function. Using experimental...
Persistent link: https://www.econbiz.de/10013153144
processes we do not find that those subjects showing ambiguity aversion in an urn experiment based on Halevy (2007 …
Persistent link: https://www.econbiz.de/10013073252
We conduct laboratory experiments to investigate the effects of deterrence mechanisms under controlled conditions. The effect of the expected cost of punishment of an individual's decision to engage in a proscribed activity and the effect of uncertainty on an individual's decision to commit a...
Persistent link: https://www.econbiz.de/10014209375
From the perspective of competitors, competition may be modeled as a prisoner’s dilemma. Setting the monopoly price is cooperation, undercutting is defection. Jointly, competitors are better off if both are faithful to a cartel. Individually, profit is highest if only the competitor(s) is...
Persistent link: https://www.econbiz.de/10014186597
We explore how risk-taking in the card game contract bridge, and in a financial gamble, correlate with variation in the dopamine receptor D4 gene (DRD4) among serious tournament bridge players. In bridge risk-taking, we find significant interactions between genetic predisposition and skill....
Persistent link: https://www.econbiz.de/10014193647
This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral determinants in such contexts. Our model and the data...
Persistent link: https://www.econbiz.de/10011540812