I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity …

, the overall decision situation is ultra simple. It is so simple that: a) economists and psychologists can mechanically … model and identify what is a mistake, and b) decision makers can maximise. However, contrary to prospect theory, in the … ; decision costs ; evaluation ; maximisation ; Black Scholes ; Lehmann Brothers ; sub-prime crisis ; central bank swaps …

assessed independently of the outcome. The principal thus judges the same decision by the agent differently, depending on …

, such as decision under Knightian uncertainty, the dynamics of economic (in)stability, and the voters’ preferences over …

Behavioral economics characterizes decision-makers using psychologically-informed models. Cognitive science produces … human nature, pays equal attention to cognition's successes and failures, embraces multidisciplinary insights, and avoids …