Borghans, Lex; Golsteyn, Bart; Heckman, James J.; … - Institute for the Study of Labor (IZA) - 2009
educate
them on how to set reservation prices. In the tutorial, they are asked to set the reservation
price for a one euro … where he stayed during this
research for its hospitality.
2
1. Introduction
A classic study by Ellsberg (1961) found … et al. (2008) review this literature.
This paper is organized in the following way. Section 2 describes the …