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In an aging society, it becomes more and more important to understand how aging affects decision making. Older adults have to face many situations that require consequential financial decisions. In the present study, we examined the effects of aging on decisions in two domains of uncertainty:...
Persistent link: https://www.econbiz.de/10009248989
In a punishment experiment, we separate the demand for punishmentin general from a possible demand to conduct …
Persistent link: https://www.econbiz.de/10009248996
results of an experiment which inquires to the extendand the severity of the adverse selection when sick-pay is voluntary …
Persistent link: https://www.econbiz.de/10009248999
Individuals exhibit a randomization preference if they prefer random mix-tures of two bets to each of the involved bets. Such preferences provide thefoundation of various models of uncertainty aversion. However, it has to ourknowledge not been empirically investigated whether uncertainty-averse...
Persistent link: https://www.econbiz.de/10009249012
It is difficult to disagree with Vernon Smith's (2010) assessment of thestate of the art in experimental economics. It is informed by the experienceof someone who was there, right at the beginning of experimental economics.Some of the problems he discusses, like the frequent failure of backward...
Persistent link: https://www.econbiz.de/10009249017
behaviour in experiments. For other payoff parameters, however,actual behaviour deviates consistently from that predicted by …
Persistent link: https://www.econbiz.de/10009262201
We examine in controlled experiments how individuals make choices when faced withmultiple options. The choice tasks … mimic the selection of health insurance, prescriptiondrug, or retirement savings plans. However, in our experiment, the …-of-sample experiment.... …
Persistent link: https://www.econbiz.de/10009302527
rivalry in our incentivized experiments. Females alsochose to play far more mixed strategies than males indicating some …
Persistent link: https://www.econbiz.de/10009302578
Economic experiments have only gained limited attention as research methodswithin the range of agricultural policy … analysis. The aim of this paper is to reconsider basicsof economic experiments and to compare them to other research methods... …
Persistent link: https://www.econbiz.de/10009302599
strength. We then presentthree experiments that study main predictions and implications of the model. The first is asimple … principal-agent experiment that shows that consistency is valued by others and thatthis value is anticipated. The second … experiment underlines the crucial role of earlycommitment for consistency preferences. Finally we show how preferences for …
Persistent link: https://www.econbiz.de/10009347594