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The optimal strategy in the minimum effort game
Cartwright, Edward - In: Games 9 (2018) 3, pp. 1-19
A simple expression is derived for the optimal strategy in the minimum effort game. This maps from player beliefs to an …
Persistent link: https://www.econbiz.de/10012227698
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Siblings, not triplets: social preferences for risk, inequality and time in discounting climate change
Helgeson, Jennifer; Dietz, Simon; Atkinson, Giles D.; … - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-26, pp. 1-28
Arguments about the appropriate discount rate often start by assuming a Utilitarian social welfare function with isoelastic utility, in which the consumption discount rate is a function of the (constant) elasticity of marginal utility along with the (much discussed) utility discount rate. In...
Persistent link: https://www.econbiz.de/10010298644
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Goal setting and worker motivation
Goerg, Sebastian J. - In: IZA World of Labor (2015)
Employers want motivated and productive employees. Are there ways to increase employee motivation without relying solely on monetary incentives, such as pay-for-performance schemes? One tool that has shown promise in recent decades for improving worker performance is setting goals, whether they...
Persistent link: https://www.econbiz.de/10011405000
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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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Cobb-Douglas production function on FDI in Southeast Europe
Apostolov, Mico - In: Journal of Economic Structures 5 (2016) 10, pp. 1-28
In this research, we focus on effects of foreign direct investments in Southeast European economies. Using World Bank Microdata Library and specifically Enterprise Surveys, we take a sample of six countries. The model is based on firm-level data of a representative sample of economy's private...
Persistent link: https://www.econbiz.de/10011552040
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Rationalizable voting
Kalandrakis, Tasos - In: Theoretical Economics 5 (2010) 1, pp. 93-125
When is a finite number of binary voting choices consistent with the hypothesis that the voter has preferences that admit a (quasi)concave utility representation? I derive necessary and sufficient conditions and a tractable algorithm to verify their validity. I show that the hypothesis that the...
Persistent link: https://www.econbiz.de/10011599425
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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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Contingent preference for flexibility: eliciting beliefs from behavior
Sadowski, Philipp - In: Theoretical Economics 8 (2013) 2, pp. 503-534
distinguish tastes (indexed by a subjective state space) and beliefs (a probability measure over the subjective states) as … identifies beliefs, provided objective states are sufficiently relevant for choice. I suggest this result as a choice theoretic … others' ranking of contracts, also share beliefs about each others' future tastes in the face of unforeseen contingencies. …
Persistent link: https://www.econbiz.de/10011599490
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Rationalization
Sandroni, Alvaro; Cherepavov, Vadim; Feddersen, Timothy - In: Theoretical Economics 8 (2013) 3, pp. 775-800
In 1908 the Welsh neurologist and psychoanlayst Ernest Jones described human beings as rationalizers whose behavior is governed by "the necessity of providing an explanation." We construct a formal and testable model of rationalization in which a decision maker selects her preferred alternative...
Persistent link: https://www.econbiz.de/10011599499
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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