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influenced by their observability due to underlying social norms and social image concerns. This study investigates the impact of …' investments in a risky asset directly to social norms for risk taking that are elicited in an incentivized procedure. I find that … risk taking is not affected by the choice being observed by a matched participant. Nor do investments follow elicited norms …
Persistent link: https://www.econbiz.de/10011930435
In the laboratory experiment reported in this paper we explore how evolving institutions and social norms, which we … norms, including the promotion of gender equality in place of the Confucian view of female 'inferiority'. Market … consequence social norms gradually changed again. In our experiment we investigate gender differences in competitive choices …
Persistent link: https://www.econbiz.de/10012978949
Unethical behavior in organizations is usually associated with the risk of negative consequences for the organization and for the involved managers if being detected. The existing experimental literature in economics has so far mainly focused on the analysis of unethical behavior in environments...
Persistent link: https://www.econbiz.de/10012105157
We use an experimental method to investigate whether systematic relationships exist across distinct aspects of individual preferences: risk aversion in monetary outcomes, altruism in a two-person context, and social preferences in a larger group context. Individual preferences across these three...
Persistent link: https://www.econbiz.de/10014187347
In an experiment that elicits subjects’ willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on the magnitude and sign of the relative risk...
Persistent link: https://www.econbiz.de/10014077011
begin by examining how the methodology has been used to test economic models with populations of theoretical interest. Next … covariates to test theoretical predictions and explore behavioral mechanisms. We proceed to discuss how the methodology can be … utilized to compare behavior across cultures and contexts, and test for the external validity of results obtained in the lab …
Persistent link: https://www.econbiz.de/10014023427
This paper presents a nonparametric approach to classification of data from lottery experiments. Using very basic mathematical tools the paper endeavors to answer the questions: How to determine the "average" subject in a group? How to find a subject presenting the most similar behavior to a...
Persistent link: https://www.econbiz.de/10013141177
We study theoretically and experimentally decision making under uncertainty in a social environment. We introduce an interdependent preferences model that assumes that the decision maker evaluates monetary outcomes in relation both with his individual and his social reference point. In the...
Persistent link: https://www.econbiz.de/10010253153
We explore the individual and joint explanatory power of concepts from economics, psychology, and criminology for criminal behavior. More precisely, we consider risk and time preferences, personality traits from psychology (Big Five and locus of control), and a self-control scale from...
Persistent link: https://www.econbiz.de/10010235856
This paper investigates how Confucianism affects individual decision making in Taiwan and in China. We found that Chinese subjects in our experiments became less accepting of Confucian values, such that they became significantly more risk loving, less loss averse, and more impatient after being...
Persistent link: https://www.econbiz.de/10010201272