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Dynamic Choice, Independence, and Emotions
Hopfensitz, Astrid; Winden, Frans A.A.M. van - C.E.P.R. Discussion Papers - 2007
variable is the particular decision stage at which a global risk is resolved: (i) before the investment decision; (ii) after … the investment decision but before the resolution of the investment risk; (iii) after the resolution of the investment … anticipated and experienced emotions in the choice problem. Main findings are a violation of the isolation effect, and support for …
Persistent link: https://www.econbiz.de/10005136625
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Investment, resolution of risk, and the role of affect
van Winden, Frans; Krawczyk, Michal; Hopfensitz, Astrid - In: Journal of Economic Psychology 32 (2011) 6, pp. 918-939
, modulated by the probability of investment success. Emotions are found to play a significant role in this respect and explain …This experimental study is concerned with the impact of the timing of the resolution of risk on investment behavior … risk resolution (2days) on investment choices. Besides the resolution timing all other factors, including the timing of …
Persistent link: https://www.econbiz.de/10010870868
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Investment, Resolution of Risk, and the Role of Affect
Hopfensitz, Astrid; Krawczyk, Michal; Winden, Frans … - C.E.P.R. Discussion Papers - 2008
investment task. Moreover, emotions were explicitly measured, including anticipatory emotions experienced during the waiting … take risks, with a special focus on the role of affect. While the importance of anticipatory emotions has so far been only … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the …
Persistent link: https://www.econbiz.de/10005124205
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Putting social preferences to work: Can revealed preferences predict real effort provision?
Foster, Joshua - In: Journal of Economic Psychology 45 (2014) C, pp. 128-140
This paper presents a model of real effort provision in conjunction with rational social preference theory to predict how individuals exert effort to replace an exogenously determined “state of the world” with a preferred social outcome. Binary dictator games and real effort tasks are used...
Persistent link: https://www.econbiz.de/10011117234
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Overconfidence as a social bias: Experimental evidence
Proeger, Till; Meub, Lukas - In: Economics Letters 122 (2014) 2, pp. 203-207
The overconfidence bias is discussed extensively in economic studies, yet fails to hold experimentally once monetary incentives and feedback are implemented. We consider overconfidence as a social bias. For a simple real effort task, we show that, individually, economic conditions effectively...
Persistent link: https://www.econbiz.de/10010743706
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Cheating in the workplace: An experimental study of the impact of bonuses and productivity
Gill, David; Prowse, Victoria; Vlassopoulos, Michael - In: Journal of Economic Behavior & Organization 96 (2013) C, pp. 120-134
We use an online real-effort experiment to investigate how bonus-based pay and worker productivity interact with workplace cheating. Firms often use bonus-based compensation plans, such as group bonuses and firm-wide profit sharing, that induce considerable uncertainty in how much workers are...
Persistent link: https://www.econbiz.de/10010719272
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Economic emergence: An evolutionary economic perspective
Foster, John; Metcalfe, J. Stan - In: Journal of Economic Behavior & Organization 82 (2012) 2, pp. 420-432
The standard neoclassical approach to economic theorising excludes, by definition, economic emergence and the related phenomenon of entrepreneurship. We explore how the most economic of human behaviours, entrepreneurship, came to be largely excluded from mainstream economic theory. In contrast,...
Persistent link: https://www.econbiz.de/10010576973
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Psychologists at the Gate: A Review of Daniel Kahneman's <em>Thinking, Fast and Slow</em>
Shleifer, Andrei - In: Journal of Economic Literature 50 (2012) 4, pp. 1080-91
The publication of Daniel Kahneman's book, <em>Thinking, Fast and Slow</em>, is a major intellectual event. The book summarizes, but also integrates, the research that Kahneman has done over the past forty years, beginning with his path-breaking work with the late Amos Tversky. The broad theme of this...
Persistent link: https://www.econbiz.de/10011014334
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Reciprocity-based Emotions: An Experimental Study of the Effects of Experiencing Positive and Negative Reciprocity
CORICELLI, Giorgio - In: Rivista Internazionale di Scienze Sociali 112 (2004) 4, pp. 359-379
reciprocal behavior. Results show that the level of trust and punishment are consistent with the view that emotions are involved. …
Persistent link: https://www.econbiz.de/10010786876
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Empathy, sympathy, and tax compliance
Calvet Christian, Roberta; Alm, James - In: Journal of Economic Psychology 40 (2014) C, pp. 62-82
This paper examines the effect of “empathy” and “sympathy” on tax compliance. We run a series of laboratory experiments in which we observe the subjects’ decisions in a series of one-shot Tax Compliance Games presented at once and with no immediate feedback. Importantly, we employ...
Persistent link: https://www.econbiz.de/10011051335