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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...
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regarding the decision negotiated by the group, and the number of times that, when there was a match, the group maintained its … decision after voting. From an empirical evaluation with a hundred students that participated in the field study, the main … hypothesis of this research was confirmed, which is that the use of a pairwise comparison function adhering to a decision and …
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We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them … individually and keep the decision-making power. Our model predicts a trade-off between information acquisition and information …
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