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Nash vs. coarse correlation
Georgalos, Konstantinos; Ray, Indrajit; Gupta, Sonali Sen - 2019
We run a laboratory experiment with a two-person game with unique pure Nash equilibrium which is also the solution of the iterative elimination of strictly dominated strategies. The subjects are asked to commit to a device that randomly picks one of three symmetric outcomes in this game...
Persistent link: https://www.econbiz.de/10011962034
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Are decision errors explaining hyperbolic discounting and nonlinear probability weighting?
Holden, Stein Terje; Tione, Sarah; Tilahun, Mesfin; … - 2024
decision errors can explain or be highly correlated with hyperbolic discounting and non-linear (inverse-S-shaped) probability … weighting. We find evidence that decision errors are strongly correlated with hyperbolic discounting but do not find that … decision errors are correlated with the strong inverse-S-shaped probability weighting (w(p)) patterns in our two samples. We …
Persistent link: https://www.econbiz.de/10014581476
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Testing for feedback-conditional regret effects using a natural lottery
Humphrey, Steven J. (contributor); Mann, Paul (contributor);  … - 2005
gamble. The properties of this gamble are likely to engage decision-makers to a greater extent than conventional abstract … salience of regret as a decision motive. -- regret theory ; outcome feedback ; natural lottery ; external validity …
Persistent link: https://www.econbiz.de/10002807138
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Deal or no deal? : decision-making under risk in a large-payoff game show
Post, Thierry; Baltussen, Guido; Assem, Martijn J. van den - 2006
We examine the risky choices of contestants in the popular TV game show “Deal or No Deal” and related classroom experiments. Contrary to the traditional view of expected utility theory, the choices can be explained in large part by previous outcomes experienced during the game. Risk aversion...
Persistent link: https://www.econbiz.de/10011348343
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Special issue: Games and decisions in reliability and risk
Merrick, Jason R. W. (contributor) - 2012
Persistent link: https://www.econbiz.de/10009566539
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Decision, Uncertainty and Cooperation : A Behavioral Interpretation Based on Quantum Strategy
Kong, Xiaowei - 2015
This paper presents a new attempt to explore people's cooperative behavior under the natural uncertainty in decision … uncertainty in human behavior by expanding the strategic space. In this paper we extend the quantum decision-making model to a two …-player Prisoner's dilemma game by bringing in the evolutional decision operators with quantum phases. These quantum phases, following …
Persistent link: https://www.econbiz.de/10013026641
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Adversarial risk analysis under partial information
Roponen, Juho; Ríos Insua, David; Salo, Ahti A. - In: European journal of operational research : EJOR 287 (2020) 1, pp. 306-316
Persistent link: https://www.econbiz.de/10012293799
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Decision Process, Preferences Over Risk and Consensus Rule : A Group Experiment
Morone, Andrea - 2017
The recent literature on individual vs. group decisions over risk has brought about divergent results, mainly depending on the institutional rules through which groups take decisions. While some studies where group decisions relied on the majority rule showed no appreciable difference between...
Persistent link: https://www.econbiz.de/10012956112
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Trust games measure trust
Houser, Daniel; Schunk, Daniel; Winter, Joachim - 2006
The relationship between trust and risk is a topic of enduring interest. Although there are substantial differences between the ideas the terms express, many researchers from different disciplines have pointed out that these two concepts become very closely related in personal exchange contexts....
Persistent link: https://www.econbiz.de/10003470471
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Reputation and Multilateral Punishment under Uncertainty
Hajikhameneh, Aidin - 2017
Principal-agent problems can reduce gains from exchange available in long distance trade. One solution to mitigate this problem is multilateral punishment, whereby groups of principals jointly punish cheating agents by giving them bad reputations. But how does such punishment work when there is...
Persistent link: https://www.econbiz.de/10012950453