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Bornhorst, Fabian; Ichino, Andrea; Kirchkamp, Oliver; … - C.E.P.R. Discussion Papers - 2010

We run an experiment in which students of different European nationalities are matched in groups of five and repeatedly choose with whom within their group they want to play a trust game. Participants observe of each other age, gender, nationality and number of siblings. The region of origin,...

Persistent link: https://www.econbiz.de/10008468504

Overconfidence and Trading Volume

Glaser, Markus; Weber, Martin - C.E.P.R. Discussion Papers - 2003

hypothesis by correlating individual overconfidence scores with several measures of trading volume of individual investors … was designed to measure various facets of overconfidence (miscalibration, the better than average effect, illusion of … calibration literature and model overconfidence as underestimation of the variance of signals. The results hold even when we …

Persistent link: https://www.econbiz.de/10005656212

Optimal Expectation

Brunnermeier, Markus K; Parker, Jonathan A - C.E.P.R. Discussion Papers - 2004

This Paper introduces a tractable, structural model of subjective beliefs. Forward-looking agents care about expected future utility flows, and hence have higher current felicity if they believe that better outcomes are more likely. On the other hand, biased expectations lead to poorer decisions...

Persistent link: https://www.econbiz.de/10005124341

Self-Esteem, Shame and Personal Motivation

Dessí, Roberta; Zhao, Xiaojian - C.E.P.R. Discussion Papers - 2011

Evidence from psychology suggests that overconfidence is more important in North America than in Japan. The pattern is … the benefits of promoting initiative and new investments. Overconfidence and high sensitivity to shame emerge as …

Persistent link: https://www.econbiz.de/10009399711

Is It Trust we Model? An Attempt to Calculate the Non-Calculative

Rosenkranz, Stephanie; Weitzel, Utz - C.E.P.R. Discussion Papers - 2005

In this paper we characterize a situation in which non-calculative trust has to play a role in the decision to cooperate. We then analyse the given situation in game theoretical terms and distinguish those aspects of players’ decisions that are cooperative from those that may be interpreted as...

Persistent link: https://www.econbiz.de/10005792217

Global Risk, Investment and Emotions

Bosman, R.A.J; Winden, Frans A.A.M. van - C.E.P.R. Discussion Papers - 2006

We investigate a novel dynamic choice problem in an experiment where emotions are measured through self-reports. The choice problem concerns the investment of an amount of money in a safe option and a risky option when there is a 'global risk' of losing all earnings, from both options, including...

Persistent link: https://www.econbiz.de/10005791308

Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey

Dohmen, Thomas J; Falk, Armin; Huffman, David; Schupp, … - C.E.P.R. Discussion Papers - 2006

This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks in general, on an 11-point...

Persistent link: https://www.econbiz.de/10005123605

Gender Differences in Risk Aversion: Do Single-Sex Environments Affect their Development?

Booth, Alison L; Cardona Sosa, Lina; Nolen, Patrick - C.E.P.R. Discussion Papers - 2011

observed gender differences in behaviour under uncertainty found in previous studies might partly reflect social learning …

Persistent link: https://www.econbiz.de/10009365004

Equity Aversion

Fershtman, Chaim; Gneezy, Uri; List, John - C.E.P.R. Discussion Papers - 2008

Models of inequity aversion and fairness have dominated the behavioural economics landscape in the last decade. This study gathers data from 240 subjects exposed to variants of two of the major experimental games - dictator and trust - that are employed to provide important empirical content to...

Persistent link: https://www.econbiz.de/10005656285

The Big Carrot: High Stake Incentives Revisited

Brañas-Garza, Pablo; García-Muñoz, Teresa; Neuman, … - C.E.P.R. Discussion Papers - 2008

This paper provides an empirical demonstration of high stakes incentives in relation to religious practice. It shows that, when both positive (carrot) and negative (stick) incentives are available, the former are more effective than the latter. Specifically, it is shown that beliefs in heaven...

Persistent link: https://www.econbiz.de/10005661888