In this paper we study the differences in European public opinion and consumer behavior with regard to the use of genetically modified organisms in the food supply. We report the results of an economic experiment in which we elicited willingness-to-pay information for products that contained...

In this article we examine the setting up of an eductive type of reasoning process in a negative feedback situation. We analyse a variant of a one-shot beauty contest game. Our results show a reasoning level of around 2 steps of introspection, which is enough to reach rapidly the rational...

We propose in this article some new extensions of the well-known social preferences model of Fehr and Schmidt [1999]: the introduction of opponents? payoffs differences and a simple element of reciprocity. To test their robustness, we estimate fixed-effects Logit models with collected data on a...

The aim of this paper is to illustrate the contribution that taking a psychological perspective can bring to the study of decision-making in economics. The article pursues the idea that it can be useful to combine a psychological analysis of judgment and decision-making with an economic analysis...

This paper uses subjects٠self-reported justifications to explain discrepancies between observed heterogeneous behavior and the unique equilibrium prediction in a one-shot travelerٳ dilemma experiment (TD). Principal components (PC) analysis suggests that iterative reasoning, aspiration levels,...

Without transparency about peer wages in a real effort experiment, a change of wages does not affect performance. With transparency, however, higher paid workers tend to work more accurately, and lower paid workers shirk more under piece rates.

The article presents an experiment that illustrates a behavior that I denote “relative thinking.” Subjects in the experiment revealed the minimal price difference for which they were willing to spend 20 minutes and go to a cheaper store. Five different goods and nine different prices were...

This experimental study is concerned with the impact of the timing of the resolution of risk on people’s willingness to take risks, with a special focus on the role of affect. While the importance of anticipatory emotions has so far been only inferred from decisions regarding hypothetical...

Individuals differ significantly in their willingness to take risks. Such differences may stem, at least in part, from individual biological (genetic) differences. We explore how risk-taking behavior varies with different versions of the dopamine receptor D4 gene (DRD4), which has been...

A central question in the study of altruism has been whether there is a systematic gender difference in giving behavior. Most experimental economics research has found that women are more generous than men. Evidence also suggests that gender differences depend upon the price of giving: males are...