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Incentive complexity, bounded rationality and effort provision
Abeler, Johannes; Huffman, David; Raymond, Collin - 2023
Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to over-provide effort relative to a fully rational...
Persistent link: https://www.econbiz.de/10014309731
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Incentive Complexity, Bounded Rationality and Effort Provision
Abeler, Johannes; Huffman, David; Raymond, Collin; … - 2023
Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to over-provide effort relative to a fully rational...
Persistent link: https://www.econbiz.de/10014377515
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A Classroom Experiment on the Causes and Forms of Bounded Rationality in Individual Choice
Bennato, Anna Rita - 2019
understand the nature, causes and forms of bounded rationality in individual choice, we present a flexible classroom experiment …. Beyond providing students with some first-hand evidence of bounded rationality, the experiment shows how a range of factors … experiment can be conducted with any number of students and takes approximately 30 minutes to conduct, with a further 10 …
Persistent link: https://www.econbiz.de/10012862823
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Incentive complexity, bounded rationality and effort provision
Abeler, Johannes; Huffman, David; Raymond, Collin - 2023
Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to over-provide effort relative to a fully rational...
Persistent link: https://www.econbiz.de/10014311541
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Everyday econometricians : selection neglect and overoptimism when learning from others
Barron, Kai; Huck, Steffen; Jehiel, Philippe - 2019
There are many important decision problems where learning through experimentation is costly or impossible. In these situations, individuals may try to learn from observing the outcomes of others who have made similar decisions. Often, however, information about others comprises a selected...
Persistent link: https://www.econbiz.de/10011982107
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Cognitive sophistication and deliberation times
Alós-Ferrer, Carlos; Buckenmaier, Johannes - 2019 - Revised version
Differences in cognitive sophistication and effort are at the root of behavioral heterogeneity in economics. To explain this heterogeneity, behavioral models assume that certain choices indicate higher cognitive effort. A fundamental problem with this approach is that observing a choice does not...
Persistent link: https://www.econbiz.de/10012006965
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The relationship between economic preferences and psychological personality measures
Becker, Anke; Deckers, Thomas; Dohmen, Thomas; Falk, Armin - 2012
Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts to capture them. In this review we first analyze the extent to which economic preferences and psychological concepts of personality - such as the Big Five and locus...
Persistent link: https://www.econbiz.de/10009522305
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The relationship between economic preferences and psychological personality measures
Becker, Anke; Deckers, Thomas; Dohmen, Thomas; Falk, Armin - 2012
Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts to capture them. In this review we first analyze the extent to which economic preferences and psychological concepts of personality - such as the Big Five and locus...
Persistent link: https://www.econbiz.de/10009535776
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The Relationship between Economic Preferences and Psychological Personality Measures
Becker, Anke - 2012
Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts to capture them. In this review we first analyze the extent to which economic preferences and psychological concepts of personality - such as the Big Five and locus...
Persistent link: https://www.econbiz.de/10013107552
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The Relationship between Economic Preferences and Psychological Personality Measures
Becker, Anke - 2012
Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts to capture them. In this review we first analyze the extent to which economic preferences and psychological concepts of personality – such as the Big Five and...
Persistent link: https://www.econbiz.de/10013107699