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We conduct an incentivized experiment on a nationally representative US sample (N=708) to test whether people prefer to avoid ambiguity even when it means choosing dominated options. In contrast to the literature, we find that 55% of subjects prefer a risky act to an ambiguous act that always...
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The magnitude of apparent specific dynamic action (SDA), the maximum rate of oxygen consumption and the length of time that the rate of oxygen uptake remained elevated above the prefeeding level were measured in the Pearl Spot, Etroplus suratensis, fed isonitrous test diets (D 1 - D 4 ) with...
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Physical lab experiments have played an instrumental role in sculpting the history of experimental economics, facilitating controlled information conditions, efficient monetary inducements, and exclusive advantages via immediate human interaction and engaging experiences. These unique benefits...
Persistent link: https://www.econbiz.de/10014566222
Maximising expected value is the classic doctrine in choice theory under empirical uncertainty, and a prominent proposal in the emerging literature on normative uncertainty, i.e., uncertainty about the standard of evaluation. But how should Expectationalism be stated in general, when we can face...
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Physical lab experiments have played an instrumental role in sculpting the history of experimental economics, facilitating controlled information conditions, efficient monetary inducements, and exclusive advantages via immediate human interaction and engaging experiences. These unique benefits...
Persistent link: https://www.econbiz.de/10014435266
We investigate the potential for Large Language Models (LLMs) to enhance scientific practice within experimentation by identifying key areas, directions, and implications. First, we discuss how these models can improve experimental design, including improving the elicitation wording, coding...
Persistent link: https://www.econbiz.de/10014372436