Narrow search
Showing 1 - 10 of 5,241
Cover Image
Rationality is not consistency
Caliari, Daniele - 2023
We challenge the standard definition of economic rationality as consistency by making use of a novel distinction … evidence raises doubts about the choice of language that equates consistency with rationality in economics. … between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by …
Persistent link: https://www.econbiz.de/10014323610
Cover Image
Heuristics and public policy : decision making under bounded rationality
Dhami, Sanjit S.; Al-Nowaihi, Ali; Sunstein, Cass R. - 2018
How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality … rationality, with particular emphasis on growing formalization of those departures, which add necessary precision. We also explore … the relationship between bounded rationality and libertarian paternalism, or nudges, and show that some recent objections …
Persistent link: https://www.econbiz.de/10011926917
Cover Image
Nudging: an experiment on transparency, controlling for reactance and decision time
Schütze, Tobias; Spitzer, Carsten; Wichardt, Philipp C. - 2023
Is being informed about nudging detrimental to the effect of the nudge? This paper reports results from an experimental study (n = 623) testing the effects of transparency on the effectiveness of a default nudge while controlling for reactance and decision time. Overall, the data show that more...
Persistent link: https://www.econbiz.de/10014323254
Cover Image
Preference dynamics : a procedurally rational model of time and effort allocation
Krecik, Markus - 2024
Current time allocation and household production models face three major weaknesses: First, they only describe the average time allocation. Thus, information about the order of activities is lost. Therefore, it is impossible to describe the influence of activities on later ones. Such...
Persistent link: https://www.econbiz.de/10014480143
Cover Image
Rationalizable Learning
Caplin, Andrew; Martin, Daniel; Marx, Philip - National Bureau of Economic Research - 2023
The central question we address in this paper is: what can an analyst infer from choice data about what a decision maker has learned? The key constraint we impose, which is shared across models of Bayesian learning, is that any learning must be rationalizable. To implement this constraint, we...
Persistent link: https://www.econbiz.de/10013537767
Cover Image
Risk aversion, patience and intelligence: evidence based on macro data
Potrafke, Niklas - 2019
Using the new macro data on risk aversion and patience by Falk et al. (2018), I show that risk aversion and patience are related to intelligence: high-IQ populations are more patient and more risk averse than low-IQ populations. The correlation between patience and intelligence corroborates...
Persistent link: https://www.econbiz.de/10011983682
Cover Image
Misogynistic and xenophobic hate language online: a matter of anonymity
Essen, Emma von; Jansson, Joakim - 2020
In this paper, we quantify hateful content in online civic discussions of politics and estimate the causal link between hateful content and writer anonymity. To measure hate, we first develop a supervised machine-learning model that predicts hate against foreign residents and hate against women...
Persistent link: https://www.econbiz.de/10012259863
Cover Image
Looming large or seeming small? : attitudes towards losses in a representative sample
Chapman, Jonathan; Snowberg, Erik; Wang, Stephanie; … - 2022
We measure individual-level loss aversion using three incentivized, representative surveys of the U.S. population (combined N = 3,000). We find that around 50% of the U.S. population is loss tolerant, with many participants accepting negative-expected-value gambles. This is counter to earlier...
Persistent link: https://www.econbiz.de/10013284901
Cover Image
On depth and retrospect : "i forget, and forgive - but i discount"
Martins, Ana Paula - 2007
The discounting of future felicity flows transposes to the intertemporal optimization context the assumption of interest-bearing wealth or savings. The validity of the hypothesis has been challenged by several empirical (ir)regularities and by the theoretical implications for human decision...
Persistent link: https://www.econbiz.de/10011523140
Cover Image
International migration of couples
Junge, Martin; Munk, Martin D.; Poutvaara, Panu - 2014
We present a theory on migration of dual-earner couples, and test it in the context of international migration. Our model predicts that the probability that a couple emigrates increases in the earnings of the primary earner. The effect of the earnings of the secondary earner may go either way....
Persistent link: https://www.econbiz.de/10010388635