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Comparing different kinds of influence on an algorithm in its forecasting process and their impact on algorithm aversion

Gubaydullina, Zulia; Judek, Jan René; Lorenz, Marco; … - In: Businesses 2 (2022) 4, pp. 448-470

Although algorithms make more accurate forecasts than humans in many applications, decision-makers often refuse to resort to their use. In an economic experiment, we examine whether the extent of this phenomenon known as algorithm aversion can be reduced by granting decision-makers the...

Persistent link: https://www.econbiz.de/10014281879

Behavioral and Heuristic Models Are As-If Models Too — And That’s OK

Moscati, Ivan - 2023

I examine some behavioral and heuristic models of individual decision-making and argue that the diverse psychological mechanisms these models posit are too demanding to be implemented, either consciously or unconsciously, by actual decision makers. Accordingly, and contrary to what their...

Persistent link: https://www.econbiz.de/10014257914

A Note on the Risk Behavior and Death of Homo Economicus

Johansson-Stenman, Olof - 2006

Recent papers by Cox and Sadiraj (2006) and Rubinstein (2006) have pointed out that expected utility theory is more general than has sometimes been acknowledged, and can hence not be refuted as easily by means of experiments. While acknowledging this fact, this note nevertheless demonstrates...

Persistent link: https://www.econbiz.de/10014055918

Unpacking Overconfident Behavior When Betting on Oneself

Abdellaoui, Mohammed; Bleichrodt, Han; Gutierrez, Cédric - 2023

Overconfident behavior, the excessive willingness to bet on one’s performance, may be driven by optimistic beliefs and/or ambiguity attitudes. Separating these factors is key for understanding and correcting overconfident behavior, as they may call for different corrective actions. We present...

Persistent link: https://www.econbiz.de/10014350225

Some contributions of economics to the study of personality

Heckman, James J.; Jagelka, Tomáš; Kautz, Tim - 2019

personality skills and preferences. They predict and cause important life outcomes such as wages, health, and longevity. Skills … analysis of human differences by providing anchored measures of economic preferences and studying their links to personality … skills and preferences required to characterize essential differences. …

Persistent link: https://www.econbiz.de/10012136850

Opportunity, not welfare : how behavioral insights should lead to a reorientation of the normative foundation in law and economics

Emmerick, Elias van; Dold, Malte - In: Journal of contextual economics : Schmollers Jahrbuch 142 (2022) 1, pp. 21-40

hold context-independ- ent, stable preferences across different legal arrangements. We suggest an alternative normative …

Persistent link: https://www.econbiz.de/10014518376

Translated attributes as choice architecture : aligning objectives and choices through decision signposts

Ungemach, Christoph; Camilleri, Adrian R.; Johnson, Eric J. - In: Management science : journal of the Institute for … 64 (2018) 5, pp. 2445-2459

Persistent link: https://www.econbiz.de/10011874356

Behavioural analytics : exploring judgments and choices in large data sets

Durbach, Ian N.; Montibeller, Gilberto - In: Journal of the Operational Research Society 70 (2019) 2, pp. 255-268

Persistent link: https://www.econbiz.de/10012212331

Opportunity, not Welfare: How Behavioral Insights Should Lead to a Reorientation of the Normative Foundation in Law and Economics

van Emmerick, Elias; Dold, Malte - In: Journal of Contextual Economics – Schmollers Jahrbuch 142 (2022) 1, pp. 21-40

hold context-independent, stable preferences across different legal arrangements. We suggest an alternative normative focus …-dependent preferences. …

Persistent link: https://www.econbiz.de/10014523522

Some Contributions of Economics to the Study of Personality

Heckman, James J.; Jagelka, Tomás; Kautz, Tim - 2019

Persistent link: https://www.econbiz.de/10012179946