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psychology and economic theory literature on the causes and consequences of status-seeking behaviour. It integrates the idea in a …
Persistent link: https://www.econbiz.de/10014265989
We consider a single psychological agent whose utility depends on his action, the state of the world, and the belief that he holds about that state. The agent is initially informed about the state and decides whether to memorize it, otherwise he has no recall. We model the memorization process...
Persistent link: https://www.econbiz.de/10012437181
authority and responder. Both players in each pair have earned an income in an individual real effort decision-making experiment …. In this experimental study, we are primarily interested in how emotions influence responder behavior. Our findings are … significantly decreases the intensity of joy and happiness. Since negative emotions are experienced as painful, there is direct …
Persistent link: https://www.econbiz.de/10009781606
-making experiment preceding the take game. The gameconsists of two stages. In the first stage, the take authority decides howmuch income … primarily interested in how emotions influenceresponder behavior. Our findings are the following. (1) A higher take … happiness. Sincenegative emotions are experienced as painful, there is direct hedonicimpact. (2) Irritation and contempt drive …
Persistent link: https://www.econbiz.de/10011301155
boundaries between psychology and economics. Noting that behavioral economics seems still under the spell of the rational choice … economics ; economic psychology …
Persistent link: https://www.econbiz.de/10003809939
We explore the influence of cognitive ability and judgment on strategic behavior in the beauty contest game (where the Nash equilibrium action is zero). Using the level-k model of bounded rationality, cognitive ability and judgment both predict higher level strategic thinking. However,...
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We investigate whether a player's guilt aversion is modulated by the co-players' vulnerability. To this goal, we introduce new variations of a three-player Trust game in which we manipulate payoff vulnerability and endowment vulnerability. The former is the traditional vulnerability which arises...
Persistent link: https://www.econbiz.de/10013547714