We use a laboratory gift-exchange game to examine decisions made by groups under three different procedures that dictate how group members interact and reach decisions in comparison to individuals acting alone. We find that group decisions do deviate from those of individuals, but the direction...

Decision rules matter for monetary policy in a currency union if the interest rate affects member states differently. We examine the consequences for inflation, output and interest rate fluctuations and the welfare loss of four alternative types of decision procedures. We show that the...

Previous tests of cumulative prospect theory (CPT) and of the priority heuristic (PH) found evidence contradicting these two models of risky decision making. However, those tests were criticized because they had characteristics that might ``trigger'' use of other heuristics. This paper presents...

In this paper we use an experimental approach to study the decisions of human subjects who are given cash incentives to solve a particular representative agent dynamic model widely studied in macroeconomics. In a representative agent dynamic model, an economy is modelled as a single decision...

The choice of the appropriate linear model before this can be used for planning and decision making, has been the concern of many statistical workers. Most of the methods in the literature aim at evaluating the descriptive ability of the candidate models. In the present paper an evaluation...

The paper is a contribution at the scientific debate of migration and mobility issues in the context of an enlarged European Union (EU-27). We consider that Romania, a country with a labour market that faces distortions, will benefit from migration on short term, but will need to import labour...

The extinction of polar bears by the end of the 21st century has been predicted and calls have been made to list them as a threatened species under the U.S. Endangered Species Act. The decision on whether or not to list rests upon forecasts of what will happen to the bears over the 21st Century....

Modern companies are creating their value through various projects. In this connection project management approaches to smart growing business is developing faster than other managerial techniques; methodology and tools are getting more efficient and supplementing different business areas....

There are many reasons to suspect that benefit-cost analysis applied to environmental policies will result in policy decisions that will reject those environmental policies. The important question, of course, is whether those rejections are based on proper science. The present paper explores...

On the basis of the decision making stands information, as one of the main elements that determine the evolution of our-days society. As a consequence, data analysis tends to become a priority in the activity of an organization for decision making. The di