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The effect of the social environment during childhood on preferences in adulthood
Abeler, Johannes; Fosgaard, Toke Reinholt; Gårn … - 2023
Preferences are key for shaping decision-making, yet it remains an open question where preferences originate from. We investigate the causal effect of the childhood social environment on adults' preferences. We utilize a natural experiment in Denmark, which randomized refugees to different...
Persistent link: https://www.econbiz.de/10014377629
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The effect of the social environment during childhood on preferences in adulthood
Abeler, Johannes; Fosgaard, Toke Reinholt; Gårn … - 2023
Preferences are key for shaping decision-making, yet it remains an open question where preferences originate from. We investigate the causal effect of the childhood social environment on adults’ preferences. We utilize a natural experiment in Denmark, which randomized refugees to different...
Persistent link: https://www.econbiz.de/10014382262
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Identifying nontransitive preferences
Alós-Ferrer, Carlos; Fehr, Ernst; Garagnani, Michele - 2022
Transitivity is perhaps the most fundamental choice axiom and, therefore, almost all economic models assume that … preferences are transitive. The empirical literature has regularly documented violations of transitivity, but these violations … deterministic part of individuals' preferences. However, what if transitivity violations reflect individuals' nontransitive …
Persistent link: https://www.econbiz.de/10013285526
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Identifying nontransitive preferences
Alós-Ferrer, Carlos; Fehr, Ernst; Garagnani, Michele - 2023
Transitivity is perhaps the most fundamental choice axiom and, therefore, almost all economic models assume that … preferences are transitive. The empirical literature has regularly documented violations of transitivity, but these violations … deterministic part of individuals' preferences. However, what if transitivity violations reflect individuals' genuinely …
Persistent link: https://www.econbiz.de/10013531822
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Identifying nontransitive preferences
Alós-Ferrer, Carlos; Fehr, Ernst; Garagnani, Michele - 2022 - This version: July 2nd, 2022
Transitivity is perhaps the most fundamental choice axiom and, therefore, almost all economic models assume that … preferences are transitive. The empirical literature has regularly documented violations of transitivity, but these violations … deterministic part of individuals' preferences. However, what if transitivity violations reflect individuals' nontransitive …
Persistent link: https://www.econbiz.de/10013277067
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Identifying nontransitive preferences
Alós-Ferrer, Carlos; Fehr, Ernst; Garagnani, Michele - 2023 - Revised version
Transitivity is perhaps the most fundamental choice axiom and, therefore, almost all economic models assume that … preferences are transitive. The empirical literature has regularly documented violations of transitivity, but these violations … deterministic part of individuals' preferences. However, what if transitivity violations reflect individuals' genuinely …
Persistent link: https://www.econbiz.de/10013489445
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Eingeschränkt rationales Verhalten: Evidenz und wirtschaftspolitische Implikationen
Altmann, Steffen; Falk, Armin; Marklein, Felix - Institute for the Study of Labor (IZA) - 2009
Die Präzision ökonomischer Prognosen und die Qualität politischer Handlungsempfehlungen hängen in entscheidendem Ausmaß von der Qualität des zugrunde liegenden Verhaltensmodells ab. Nur ein empirisch gut fundiertes Modell ökonomischen Handelns erlaubt es, die Konsequenzen politischer...
Persistent link: https://www.econbiz.de/10008615417
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Inferring preferences from choices under uncertainty
Kuzmics, Christoph - Institut für Mathematische Wirtschaftsforschung, … - 2012
If a decision maker, in a world of uncertainty a la Anscombe and Aumann (1963), can choose acts according to some objective probability distribution (by throwing dice for instance) from any given set of acts, then there is no set of acts that allows an experimenter to test more than the Axiom of...
Persistent link: https://www.econbiz.de/10009653931
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Probability and Risk: Foundations and Economic Implications of Probability-Dependent Risk Preferences
Fehr-Duda, Helga; Epper, Thomas - In: Annual Review of Economics 4 (2012) 1, pp. 567-593
A large body of evidence has documented that risk preferences depend nonlinearly on outcome probabilities. We discuss the foundations and economic consequences of probability-dependent risk preferences and offer a practitioner's guide to understanding and modeling probability dependence. We...
Persistent link: https://www.econbiz.de/10010604253
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Inferring discount rates from time-preference experiments
Duquette, Eric; Higgins, Nathaniel; Horowitz, John - In: Economics Letters 123 (2014) 2, pp. 212-215
We observe that identification of the discount rate from experimental data requires an assumption about the consumption period, the length of time over which a payment will be turned into utility-providing consumption. We show that the optimal consumption period is substantially longer than...
Persistent link: https://www.econbiz.de/10010906364