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Choice, deferral, and consistency
Costa-Gomes, Miguel A.; Cueva, Carlos; Gerasimou, Georgios - In: Quantitative Economics 13 (2022) 3, pp. 1297-1318
We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is … the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice … by rational choice. Our results suggest that nonforced-choice experiments and models can be helpful in separating people …
Persistent link: https://www.econbiz.de/10014536896
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Does education increase risk aversion in households? Some evidence using artefactual experiments in Peru
Chong, Alberto; Martínez, Joan J. - In: Latin American Economic Review 30 (2021) 1, pp. 1-19
data from representative surveys and artefactual or lab-on-the-field experiments in Lima, Peru. We employ three standard …
Persistent link: https://www.econbiz.de/10013205139
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Stable sampling equilibrium in common pool resource games
Camilo Cárdenas, Juan; Mantilla, César; Sethi, Rajiv - In: Games 6 (2015) 3, pp. 299-317
This paper reconsiders evidence from experimental common pool resource games from the perspective of a model of payoff sampling. Despite being parameter-free, the model is able to replicate some striking features of the data, including single-peaked frequency distributions, the persistent use of...
Persistent link: https://www.econbiz.de/10011709853
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Systemic Usury and the European Consumer Credit Directive
Neuberger, Doris; Reifner, Udo - In: Vierteljahrshefte zur Wirtschaftsforschung 89 (2020) 1, pp. 115-132
Usury is a frequent occurrence in consumer credit markets and particularly affects low-income households. Although the term usury conjures images of a greedy individual consciously acting to exploit the weak bargaining position of another by deceitful and even fraudulent means, we consider it as...
Persistent link: https://www.econbiz.de/10012507905
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Validating an Ultra-Short Survey Measure of Patience
Vischer, Thomas; Dohmen, Thomas; Falk, Armin; Huffman, David - In: Economics Letters 120 (2013) 2, pp. 142-145
Abstract This study presents results of the validation of an ultra-short survey measure of patience included in the German Socio-Economic Panel (SOEP). Survey responses predict intertemporal choice behavior in incentive-compatible decisions in a representative sample of the German adult population.
Persistent link: https://www.econbiz.de/10010322745
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Reason-based choice: a bargaining rationale for the attraction and compromise effects
de Clippel, Geoffroy; Eliaz, Kfir - In: Theoretical Economics 7 (2012) 1, pp. 125-162
Among the most important and robust violations of rationality are the attraction and the compromise effects. The compromise effect refers to the tendency of individuals to choose an intermediate option in a choice set, while the attraction effect refers to the tendency to choose an option that...
Persistent link: https://www.econbiz.de/10011599458
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Two-stage threshold representations
Manzini, Paola; Tyson, Christopher J.; Mariotti, Marco - In: Theoretical Economics 8 (2013) 3, pp. 875-882
We study two-stage choice procedures in which the decision maker first preselects the alternatives whose values according to a criterion pass a menu-dependent threshold, and then maximizes a second criterion to narrow the selection further. This framework overlaps with several existing models...
Persistent link: https://www.econbiz.de/10011599502
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Delaying rewards has greater effect on altruism when the beneficiary is socially distant
Osiński, Jerzy; Karbowski, Adam - In: PLoS ONE 12 (2017) 2, pp. e0170387
Based on the assumption that social distance and time are dimensions of psychological distance important for altruistic choices it was predicted that enhancement of altruism due to delaying rewards when choosing between a reward for oneself and for another person would be more pronounced the...
Persistent link: https://www.econbiz.de/10011633601
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Social discounting rate is negatively correlated with fluid intelligence
Osiński, Jerzy; Ostaszewski, Paweł; Karbowski, Adam - In: Personality and Individual Differences 59 (2014), pp. 44-49
The purpose of the study was to verify a hypothesis, inspired by the handicap principle, of a positive relationship between subjective value of a hypothetical monetary reward shared with others and the level of fluid intelligence. Manipulation involved the amount of reward to be shared (small...
Persistent link: https://www.econbiz.de/10011637367
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Social discounting: Choice between rewards for other people
Osiński, Jerzy; Karbowski, Adam; Ostaszewski, Paweł - In: Behavioural Processes 115 (2015) June 2015, pp. 61-63
The purpose of the present study was to test the prediction that when two rewards, a smaller but “socially closer” one and a larger but “socially more distant” one, are moved away from the subject by the same social distance, subjective value of the socially more distant reward will...
Persistent link: https://www.econbiz.de/10011637368