This paper presents a procedure designed to aid physicians and patients in the process of making medical decisions, and illustrates its implementation to aid pregnant women, who decided to undergo prenatal diagnostic test choose a physician to administer it. The procedure is based on a medical...

This paper investigates the behavior of contestants in the game show “Quiz Taxi” when faced with the decision whether to bet the winnings they have acquired on a final “double or nothing” question. The decision in this natural experiment is made by groups of two or three persons. This...

When randomly assigning participants to experimental roles and the according payment prospects, participants seem to receive “manna from heaven.” In our view, this seriously questions the validity of laboratory findings. We depart from this by auctioning off player roles via the incentive...

Antisocial punishment—punishment of pro-social cooperators—has shown to be detrimental for the efficiency of informal punishment mechanisms in public goods games. The motives behind antisocial punishment acts are not yet well understood. This article shows that inequality aversion predicts...

Experimental data on social preferences present a number of features that need to be incorporated in econometric modelling. We explore a variety of econometric modelling approaches to the analysis of such data. The approaches under consideration are: the Random Utility approach (in which it is...

This paper presents an experimental study of common consequence effects in binary choice, willingness-to-pay (WTP) elicitation, and willingness-to-accept (WTA) elicitation. We find strong evidence in favor of the fanning out hypothesis (Machina, Econometrica 50:277–323, <CitationRef CitationID="CR14">1982</CitationRef>) for both WTP and...</citationref>

Let <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$\mathcal{X }$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mi mathvariant="script">X</mi> </math> </EquationSource> </InlineEquation> be a set of outcomes, and let <InlineEquation ID="IEq2"> <EquationSource Format="TEX">$$\mathcal{I }$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mi mathvariant="script">I</mi> </math> </EquationSource> </InlineEquation> be an infinite indexing set. This paper shows that any separable, permutation-invariant preference order <InlineEquation ID="IEq3"> <EquationSource Format="TEX">$$(\succcurlyeq )$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mrow> <mo stretchy="false">(</mo> <mo>≽</mo> <mo stretchy="false">)</mo> </mrow> </math> </EquationSource> </InlineEquation> on <InlineEquation ID="IEq4"> <EquationSource Format="TEX">$$\mathcal{X }^\mathcal{I }$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <msup> <mrow> <mi mathvariant="script">X</mi> </mrow> <mi mathvariant="script">I</mi> </msup> </math> </EquationSource> </InlineEquation> admits an additive...</equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation>

This paper presents an axiomatic framework for the priority heuristic, a model of bounded rationality in Selten’s (in: Gigerenzer and Selten (eds.) Bounded rationality: the adaptive toolbox, <CitationRef CitationID="CR32">2001</CitationRef>) spirit of using empirical evidence on heuristics. The priority heuristic predicts actual human...</citationref>

It is well-recognised that workers may have intrinsic—as well as extrinsic—motivations. Previous studies have identified that public sector workers typically have a higher level of intrinsic motivation, compared to workers in the private sector. This paper compares (measures of) intrinsic...