Similar Search Results

High stakes behavior with low payoffs: Inducing preferences with Holt–Laury gambles

Dickhaut, John; Houser, Daniel; Aimone, Jason A.; Tila, … - In: Journal of Economic Behavior & Organization 94 (2013) C, pp. 183-189

Kahneman and Tversky (1979) argued that risky decisions in high stakes environments can be informed using questionnaires with hypothetical choices. Yet results by Holt and Laury (2002) suggest that questionnaire responses and decisions in hypothetical and low monetary payoff environments do not...

Persistent link: https://www.econbiz.de/10010719274

Cognitive uncertainty and overconfidence

Amelio, Andrea - 2022

Overconfidence is one of the most ubiquitous cognitive bias. There is copious evidence of overconfidence being relevant … overconfidence. Cognitive uncertainty represents a decision maker's uncertainty about her action optimality. We present a simple … model of overconfidence based on the concept of cognitive uncertainty. The model relates the concepts theoretically and …

Persistent link: https://www.econbiz.de/10013257953

Social risk effects : the "experience of social risk" factor

Diekert, Florian; Goeschl, Timo; König-Kersting, Christian - 2021

Anticipating "social risk", or risk caused by humans, affects decision-making differently from anticipating natural risk. Drawing upon a large sample of the US population (n=3,982), we show that the phenomenon generalizes to risk experience. Experiencing adverse outcomes caused by another human...

Persistent link: https://www.econbiz.de/10012598407

Can Risk-Taking Preferences Be Modified? Some Experimental Evidence

Booth, Alison L.; Nolen, Patrick J. - 2021

We summarise our two sets of controlled experiments designed to see if single-sex classes within coeducational environments modify students’ risk-taking attitudes. In Booth and Nolen (2012b), subjects are in years 10 and 11, while in Booth, Cardona-Sosa and Nolen (2014), they are first-year...

Persistent link: https://www.econbiz.de/10013315609

Resolving persistent uncertainty by self-organized consensus to mitigate market bubbles

Sornette, Didier; Andraszewicz, Sandra; Murphy, Ryan O.; … - 2016

We propose a new paradigm to study coordination in complex social systems, such as financial markets, that accounts for fundamental uncertainty. This new context has features from prediction markets that have been shown previously to mitigate price bubbles in classical asset market experiments....

Persistent link: https://www.econbiz.de/10011514493

On Skewed Risks in Economic Models and Experiments

Ebert, Sebastian - 2014

Many of the most significant risks that people face in their lives are left-skewed, i.e., imply large losses with only small probability. I characterize skewness in binary risks, which are widely applied in both economic models and experiments. Moreover, I provide an explicit re-parametrization...

Persistent link: https://www.econbiz.de/10013067104

Coordination under loss contracts

Ahrens, Steffen; Bitter, Lea; Bosch-Rosa, Ciril - 2020

In this paper we study the effects that loss contracts - prepayments that can be clawbacked later - have on group coordination when there is strategic uncertainty. We compare the choices made by experimental subjects in a minimum effort game. In control sessions, incentives are formulated as a...

Persistent link: https://www.econbiz.de/10012285502

Decision time and steps of reasoning in a competitive market entry game

Lindner, Florian - 2013

Entry decisions in market entry games usually depend on the belief about how many others are entering the market, the belief about the own rank in a real effort task, and subjects' risk preferences. In this paper I am able to replicate these basic results and examine two further dimensions: (i)...

Persistent link: https://www.econbiz.de/10010397176

Oligopoly as a socially embedded dilemma : an experiment

Engel, Christoph; Zhurakhovska, Lilia - 2011

expected. -- Oligopoly ; Collusion ; experiment ; Uncertainty ; negative externalities ; prisoner's dilemma …

Persistent link: https://www.econbiz.de/10008822475

If the worst comes to the worst : dictator giving when recipientś endowments are risky

Engel, Christoph; Goerg, Sebastian J. - 2015

an experiment we find that, to the contrary, under most specifications of uncertainty, dictators give more, compared with …

Persistent link: https://www.econbiz.de/10011349370

1
2
3
4
5
6
7
8
9
10
Next
Last