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This paper presents a model of real effort provision in conjunction with social preference theory to predict how individuals exert effort to replace an exogenously determined "state of the world" with a preferred social outcome. Binary dictator games and real effort tasks are used to examine...
Persistent link: https://www.econbiz.de/10013090462
The numerous reports on preference reversals in preference elicitations pose a great challenge to empirical economics. Many studies have found that different procedures may generate substantially different preferences. However, little is known about whether one procedure is more susceptible to...
Persistent link: https://www.econbiz.de/10013091773
decision making. In an experiment, subjects invest in a portfolio that contains a risk-free bond and a risky asset which has … exhibits how the decision maker limits her possible loss by forgoing possible gains. The findings of the study are reflective … that in certain situations, the utility from a satisficing decision is greater than maximising, therefore making it a …
Persistent link: https://www.econbiz.de/10013075886
Persistent link: https://www.econbiz.de/10013167187
This paper studies a Stated Preference (SP) experiment on the choice of type of (Rail) season card, conducted among current Dutch Railways season cardholders. They were asked to choose from the following three alternatives: (1) an unrestricted season card, (2) a cheaper season card with peak...
Persistent link: https://www.econbiz.de/10013150864
We model a general choice environment via probabilistic choice correspondences, with (possibly) incomplete domain and infinite universal set of alternatives. We offer a consistency restriction regarding choice when the feasible set contracts. This condition, 'contraction consistency', subsumes...
Persistent link: https://www.econbiz.de/10013153310
discrimination. We identify when this decision is based on the maximization of a meta-preference, implying that preference changes …
Persistent link: https://www.econbiz.de/10012833549
Behavioral economics rejects the Samuelsonian concept of revealed preferences, which, in turn, is a cornerstone for the development of modern neoclassical micro theory. This paper aims at criticizing the behavioral charge against revealed preferences, arguing that, while accepting the fact that...
Persistent link: https://www.econbiz.de/10012834689
This paper provides a revealed preference characterisation of quasi-hyperbolic discounting which is designed to be applied to readily-available expenditure surveys. We describe necessary and sufficient conditions for the leading forms of the model and also study the consequences of the...
Persistent link: https://www.econbiz.de/10012843236
Structural models explaining retirement decisions of individuals or households in an inter-temporal setting are typically hard to estimate using data on actual retirement decisions, because choice sets are complicated and uncertain and for a large part unobserved by the researcher. This paper...
Persistent link: https://www.econbiz.de/10012776920