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Naiveté About Temptation and Self-Control : Foundations for Naive Quasi-Hyperbolic Discounting

Ahn, David S. - 2017

We introduce and characterize a recursive model of dynamic choice that accommodates naiveté about present bias. The model incorporates costly self-control in the sense of Gul and Pesendorfer (2001) to overcome the technical hurdles of the Strotz representation. The important novel condition is...

Persistent link: https://www.econbiz.de/10012950018

Perceived Wealth, Cognitive Sophistication and Behavioral Inattention

Assenza, Tiziana - 2020

By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance sheet profiles may be perceived as non fungible in a controlled frictionless environment with no probabilistic attributes. A large majority of subjects indeed have a bias in...

Persistent link: https://www.econbiz.de/10012845685

Nudging: an experiment on transparency, controlling for reactance and decision time

Schütze, Tobias; Spitzer, Carsten; Wichardt, Philipp C. - 2023

Is being informed about nudging detrimental to the effect of the nudge? This paper reports results from an experimental study (n = 623) testing the effects of transparency on the effectiveness of a default nudge while controlling for reactance and decision time. Overall, the data show that more...

Persistent link: https://www.econbiz.de/10014323254

Personality and Complex Economic Decision-Making

Atanasov, Vladimir A.; Gibson, Scott; Luchtenberg, … - 2023

Using experimental data from a sample of 1,800 participants, we show that the Big Five personality traits have significant explanatory power to predict participants’ willingness to default on a mortgage. We identify a cluster of personality traits that matches the Self-Centered type in...

Persistent link: https://www.econbiz.de/10014350932

Eliciting paternalistic preferences : an incentivised experiment

Schütze, Tobias; Carlhoff, Henrik; Witschel, Helena - 2024 - This version: March 1, 2024

Individual paternalistic preferences are central to the question to what extent the state may intervene in the freedom … those preferences. In this paper, we present a simple and abstract experiment to elicit paternalistic preferences and also … investigate its relationship with individual psychological constructs that are argued to correlate with paternalistic preferences …

Persistent link: https://www.econbiz.de/10014486989

Are you risk averse over other people's money?

Chakravarty, Sujoy; Harrison, Glenn W.; Haruvy, Ernan E.; … - In: Southern economic journal 77 (2011) 4, pp. 901-913

Persistent link: https://www.econbiz.de/10009154862

Overcoming the Knowledge Problem in Behavioral Law and Economics : Uncertainty, Decision Theory, and Autonomy

Hacker, Philipp - 2017

Science evolves in the long run. Law rules in the present. This potential temporal disconnect leads to a Hayekian “knowledge problem”, a challenge increasingly raised against behavioral law and economics: Empirical findings are deemed too uncertain to provide a solid basis for legal...

Persistent link: https://www.econbiz.de/10012971399

Rationally Inattentive Preferences

de Oliveira, Henrique - 2017

This paper develops a decision-theoretic framework to study rational inattention (Sims [1998, 2003]). We provide an axiomatic characterization that relates rationally inattentive behavior to attitudes towards flexibility (Kreps [1979]) and temporal resolution of uncertainty (Kreps and Porteus...

Persistent link: https://www.econbiz.de/10012974280

‘Nudging’ Risky Decision-Making : The Causal Influence of Information Order

Aimone, Jason Anthony - 2016

Recent studies have suggested that there may be a correlation between the order in which decision-makers collect information about risky gambles and their tendency to make expected value maximizing decisions. In this work we present results from an experiment designed to establish causality by...

Persistent link: https://www.econbiz.de/10012986368

A tractable theory of choice based on cell behavior

Valdés-Edwards, Gonzalo; Valdés Prieto, Salvador - 2013

This paper presents a choice model based on a model for the behavior of brain cells that is based on neurological findings. The paper shows that it is possible to define choice as the result of a series of interconnected cellular processes, instead of framing the problem from the point of view...

Persistent link: https://www.econbiz.de/10010192076