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and influencing financial decision-making. The chapter explores major cognitive biases that commonly lead to mistakes in …
Persistent link: https://www.econbiz.de/10013219565
incentivized decision task involves Bayesian assessments where participants may use existing (base rate) as well as new information … diet improved decision making relative to those who reported following No Diet. Our data fail to support these hypotheses …. In fact, we found some evidence that adherence to a No Sugar Diet predicted a reduced decision accuracy and was connected …
Persistent link: https://www.econbiz.de/10013249119
, we use the two-stage decision-making model proposed by Acevedo et al. (2020), which shows that consumption choice can be …
Persistent link: https://www.econbiz.de/10013249669
This paper presents an empirical investigation of the relation between decision speed and decision quality for a real …-by-move data provide exceptionally detailed and precise information about decision times and decision quality, based on a … with the predictions of procedural decision models like drift-diffusion-models in which decision makers sequentially …
Persistent link: https://www.econbiz.de/10012806643
Many important intertemporal decisions are made by groups rather than individuals. What happens to collective decisions when there is internal conflict about the tradeoff between present and future has not been thoroughly investigated so far. We study experimentally the causal effect of group...
Persistent link: https://www.econbiz.de/10012415076
Many important intertemporal decisions are made by groups rather than individuals. What happens to collective decisions when there is internal conflict about the tradeoff between present and future has not been thoroughly investigated so far. We study experimentally the causal effect of group...
Persistent link: https://www.econbiz.de/10012418242
Standard consumption utility is linked in time to a consumption event, whereas the timing of prosocial utility flows is ambiguous. Prosocial utility may depend on the actual utility consequences for others - it is consequence-dated - or it may be related to the act of giving and is thus...
Persistent link: https://www.econbiz.de/10012419311
expect a decision maker to distinguish between different time periods or different prizes? Our key premise is that cognitive …
Persistent link: https://www.econbiz.de/10012058613
We collect data on time preferences of a representative sample of the Hungarian population in a non-incentivized way and investigate how patience and present bias associate with important life outcomes in five domains: i) educational attainment, ii) unemployment, iii) income and wealth, iv)...
Persistent link: https://www.econbiz.de/10012009154
, because the economics literature on group decision making has, so far, assumed homogeneity within groups. In a lab experiment …
Persistent link: https://www.econbiz.de/10012019615