This paper compares two prominent empirical measures of individual risk attitudes - the Holt and Laury (2002) lottery-choice task and the multi-item questionnaire advocated by Dohmen, Falk, Huffman, Schupp, Sunde and Wagner (forthcoming) - with respect to (a) their correlation with actual...

This paper suggests a potential rationale for the recent empirical finding that overconfident agents tend to self-select into more competitive environments (e.g. Dohmen and Falk, 2006). In particular, it shows that moderate overconfidence in a contest can improve the agent's performance relative...

How can an argument that is based on assumptions known to be false deliver any insightful conclusions let alone be used for policy recommendations? Over the years, a variety of concerns regarding (micro-)economic modelling and its relevance for real life have been expressed along these lines....

This paper proposes a simple framework to model contextual influences on procedural decision making. In terms of utility, we differentiate between monetary payoffs and contextual psychological ones, e.g. deriving from the subjects' normative frame of reference. Monetary payoffs are treated as...

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...

This paper suggests a potential rationale for the recent empirical finding that overconfident agents tend to self-select into more competitive environments (e.g. Dohmen and Falk, forthcoming). In particular, it shows that moderate overconfidence in a contest can improve the agent's performance...

This paper considers the e effcts of a two-period interaction on the decision of a principal to delegate authority to a potentially biased but better informed agent. Compared to the (repeated) one-period case, the agent's first period actions may also signal his type which in turn impacts wages...

Cosmopolitan or anxious? In order to test the influence of conflicting aspects of identity, German respondents were asked about their attitude towards a Syrian refugee the description of whom was varied in various domains (N=662). Once the refugee is described as being aware of as well as open...

This paper reports results from a randomized questionnaire study among German citizens regarding their attitudes towards Syrian refugees. Being shown a picture of an alleged Syrian refugee the description of whom was varied, respondents were asked to indicate their attitude towards that person...

This paper reports the results from a statistical analysis of pharmaceutical price negotiations in Germany, where the pricing system was changed in 2011 in order to tie prices more to the benefits of the pharmaceuticals. A multiple linear regression of 187 pharmaceuticals which were assessed...