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This paper analyzes 12,596 wagering decisions of 6,064 contestants in the US game show Jeopardy!, focusing on the anchoring phenomenon in financial decision-making. We find that contestants anchor heavily on the initial dollar value of a clue in their wagering decision, even though there exists...
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improved the welfare of behavioral agents. We advance the notion of counter-biasing by demonstrating that one bias (present … bias) can be pit against another (choking at high stakes) to counteract the ill effects of the second. Our results …
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elements together, the author presents a seminal model combining preferences and heuristics to explain choices in the …
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