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The notion of choice inconsistency is widely spread in the literature on behavioral economics. Several approaches were used to account for the observation that people reverse their choices over time. This paper aims to explain the formation of resolutions regarded as internal self-binding...
Persistent link: https://www.econbiz.de/10003887147
We establish a class of fully nonlinear conditional expectations. Similarly to the usage of linear expectations when a probabilistic description of uncertainty is present, we observe analogue quantitative and qualitative properties. The type of nonlinearity captures the agents sentiments of...
Persistent link: https://www.econbiz.de/10010477162
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-regulation theory, we theorize that the breakdown in three fundamental mechanisms (i.e., moral standards, monitoring, and discipline …
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, several (nested) comparison methods are developed. These methods yield a theory of delay aversion which parallels that of risk … aversion. The applied strength of this theory is demonstrated in a variety of dynamic economic settings, including the …
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In this paper we propose minority voting as a scheme that can partially protect individuals from the risk of repeated exploitation. We consider a committee that meets twice to decide about projects where the first-period project may have a long-lasting impact. In the first period a simple open...
Persistent link: https://www.econbiz.de/10003761367
Sebastian Burchhardt develops a game theory model that analyzes the possible behavioral patterns of employees during MA … Organization Theory at WHU - Otto Beisheim School of Management in Vallendar. …Sebastian Burchhardt develops a game theory model that analyzes the possible behavioral patterns of employees during M …
Persistent link: https://www.econbiz.de/10012402124
In this paper we give an alternative characterization for time-consistent sets of measures in a discrete setting. For each measure \mathbb{P} in a time-consistent set \mathcal{P} we get a distinct set of predictable processes which in return decribe the \mathbb{P} uniquely. This implies we get a...
Persistent link: https://www.econbiz.de/10003980916