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susceptible to framing effects. Recent research in social psychology and economics has suggested that willpower is a resource that … of contexts. In this study, we extend the willpower depletion paradigm to framing effects and argue that willpower … depletion should increase framing effects. To test this we designed two experiments in which we depleted participants' willpower …
Persistent link: https://www.econbiz.de/10009793156
We study in an experiment whether humans prefer to depend on decisions of other humans (social uncertainty) or states … other humans. This is the first experiment that studies social uncertainty that does not derive from a strategic situation …
Persistent link: https://www.econbiz.de/10011392605
In an experiment using two-bidder first-price sealed bid auctions with symmetric independent private values, we …
Persistent link: https://www.econbiz.de/10003878997
order to disentangle different choice dynamics, they devise a laboratory experiment with a novel experimental task in which …
Persistent link: https://www.econbiz.de/10010425055
experiment with 66 students to measure the house-money effect on their risk preferences. They received an amount of money with … group got it the day of the experiment. We find that, when facing possible losses, people in the treatment group showed a …
Persistent link: https://www.econbiz.de/10013147749
We estimate 11 well-studied behavioral phenomena in a group of 190 laboratory subjects (short-term discount rates, small stakes risk aversion, present bias, loss aversion, the endowment effect, aversion to ambiguity and compound lotteries, the common ratio and common consequence effects and...
Persistent link: https://www.econbiz.de/10013017712
The title of this chapter is deliberately provocative. Intuitively, many will be inclined to see conscious control of mental process as a good thing. Yet control comes at a high price. The consciously not directly controlled, automatic, parallel processing of information is not only much faster,...
Persistent link: https://www.econbiz.de/10014221658
This paper experimentally investigates individual information acquisition and decisions in ambiguous situations in which the degree of ambiguity can endogenously and individually be decreased by the subjects. In particular, I analyze how risk aversion, ambiguity attitude and personality traits...
Persistent link: https://www.econbiz.de/10010357825
We implement an experiment to elicit subjects’ ambiguity attitudes in the spirit of Ellsberg’s three-color urn. The …
Persistent link: https://www.econbiz.de/10010360878
We investigate how third-party punishers and potential violators decide under evidentiary uncertainty in a take game. In line with the legal requirement and in contrast to economic models, neither the sanction nor the harm level affects the punishment probability, but the quality of evidence...
Persistent link: https://www.econbiz.de/10010496149