Using a laboratory experiment, we examine whether informal monetary sanctions can lead to better coordination in a repeated minimum effort coordination game. While most groups first experience inefficient coordination, the efficiency increases substantially after introducing an ex post...

We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates standard risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear...

Auf der Basis eines mittels einer Onlinebefragung erhobenen Datensatzes wird auf der Basis der haushalts- bzw. konsumgütertheoretischer Überlegungen und verhaltenstheoretischer Konzepte untersucht, wie der Umfang der von ehrenamtlich Engagierten in Fußballvereinen geleisteten Arbeit von der...

Contemporary approaches to decision making describe a decision problem by sets of states and outcomes, and a rich set of acts: functions from states to outcomes over which the decision maker (DM) has preferences. Real problems do not come so equipped. It is often unclear what the state and...

The prospect theory is one of the most popular decision-making theories. It is based on the S-shaped utility function, unlike the von Neumann and Morgenstern (NM) theory, which is based on the concave utility function. The S-shape brings in mathematical challenges: simple extensions and...

In diesem Beitrag geht es um subjektive Gerechtigkeitsvorstellungen, nicht Gerechtigkeit an sich, da erstere im Gegensatz zu letzterer empirisch feststellbar und handlungswirksam sind. Allerdings müssen ihre Folgen nicht nur gute sein. Gerechtigkeitsvorstellungen können erstens die...

Recent studies find ample evidence that monetary and immaterial gifts influence effort in the workplace. We investigate the impacts of monetary gift exchange and of expressions of respect on salespersons' reciprocity when purchasing doner durum, a common lunch snack. Prior to the food's...

In 2008, the Swedish property tax was reformed and a cap on yearly tax liabilities was introduced. A large fraction of owner occupied houses was subject to a substantial decrease in the tax. When the reform was announced, most analysts projected - in line with tax capitalization theory - that...

This paper presents the Global Preference Survey, a globally representative dataset on risk and time preferences, positive and negative reciprocity, altruism, and trust. We collected these preference data as well as a rich set of covariates for 80,000 individuals, drawn as representative samples...

This paper examines the reflexive interplay between individual decisions and social forces to analyze the evolution of cooperation in the presence of "multi-directedness", whereby people's preferences depend on their psychological motives. People have access to multiple, discrete motives....