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This experiment explores whether individuals know that other people are biased. We confirm that overestimation of abilities is a pervasive problem, but observe that most people are not aware of it, i.e. they think others are unbiased. We investigate several explanations for this result. As a...
Persistent link: https://www.econbiz.de/10004968372
We analyze first-order beliefs in a variation of the Public Good Game. We show that (1) the role that belief … elicitation plays in the experiment affects both the contribution behavior and beliefs, and (2) framing influences stated beliefs … initial beliefs, and provide an empirical model of the belief up-dating process. Subjects use the past experience, stressing …
Persistent link: https://www.econbiz.de/10005572324
effort lab experiments with 550 subjects in 11 treatments and one baseline. Our results indicate that monetary incentives to …
Persistent link: https://www.econbiz.de/10011406149
On the doctrinal surface, there is a deep divide between common and continental law when it comes to the origin of contractual obligations. Under continental law, in principle a unilateral promise suffices. Common law by contrast requires consideration. When it comes to deciding cases, the...
Persistent link: https://www.econbiz.de/10011789566
to overconsumption and lost surplus. These errors are partially driven by mistaken beliefs about the value distribution …
Persistent link: https://www.econbiz.de/10010280840
Which behavioral interventions are more appropriate to induce energy saving: energy saving goals with or without monetary incentives, environmentally related information, social comparison, or a competition to save energy? We try to answer this question in a comprehensive study. First, we...
Persistent link: https://www.econbiz.de/10012543674
to overconsumption and lost surplus. These errors are partially driven by mistaken beliefs about the value distribution …
Persistent link: https://www.econbiz.de/10009489036
effort lab experiments with 550 subjects in 11 treatments and one baseline. Our results indicate that monetary incentives to …
Persistent link: https://www.econbiz.de/10011373730
Persistent link: https://www.econbiz.de/10008747593
The paper presents an experiment testing the hypothesis that, if consumers do not have well defined preferences and as a result their valuation of a new product is shaped by past experiences of prices, it may be more profitable for firms to follow a strategy of pricing high and then lower. We...
Persistent link: https://www.econbiz.de/10013141080