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experiment using pairwise lottery choice and a within-subject design, we showthat putting subjects under load via a concurrent …. We discuss how these findings relate to both dual-system and unitarysystem theories of decision making.We observe that … predictions of both recent dual-system and drift-diffusion models of the decision-making process are confirmed by our data and …
Persistent link: https://www.econbiz.de/10011531887
Intuitive decision making has a large and often negative impact in economic decisions, but its measurement and … behind these developments and offer avenues for improvement. First, we show that a very simple formal model of decision …
Persistent link: https://www.econbiz.de/10012249760
Economists are increasingly interested in the cognitive basis of pro-social behavior. Using response time data, several authors have claimed that "fairness is intuitive". In light of conflicting empirical evidence, we provide theoretical arguments showing under which circumstances an increase...
Persistent link: https://www.econbiz.de/10011616655
In an experiment that elicits subjects’ willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10014077011
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10013364933
This short paper demonstrates that the claim of Cumulative Prospect Theory (CPT) that people are risk seeking for loss … gains and for losses. This contradicts one of the main theses of Prospect Theory …
Persistent link: https://www.econbiz.de/10013153144
that stress influences decision making, but still very little is known about whether individual attitudes to risk change …
Persistent link: https://www.econbiz.de/10012941563
This paper deals with estimating data from experiments determining lottery certainty equivalents. The paper presents the parametric and nonparametric results of the least squares (mean), quantile (including median) and mode estimations. The examined data are found to be positively skewed for low...
Persistent link: https://www.econbiz.de/10013145403
We explore how risk-taking in the card game contract bridge, and in a financial gamble, correlate with variation in the dopamine receptor D4 gene (DRD4) among serious tournament bridge players. In bridge risk-taking, we find significant interactions between genetic predisposition and skill....
Persistent link: https://www.econbiz.de/10014193647
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …
Persistent link: https://www.econbiz.de/10013388772