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A test of narrow framing and its origin
Guiso, Luigi - C.E.P.R. Discussion Papers - 2009
. I show that attitudes towards regret and reliance on intuition rather than reasoning are likely to drive the tendency to …
Persistent link: https://www.econbiz.de/10005136478
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Dynamic Choice, Independence, and Emotions
Hopfensitz, Astrid; Winden, Frans A.A.M. van - C.E.P.R. Discussion Papers - 2007
From the viewpoint of the independence axiom of expected utility theory, an interesting empirical dynamic choice problem involves the presence of a 'global risk', that is, a chance of losing everything whichever safe or risky option is chosen. In this experimental study, participants have to...
Persistent link: https://www.econbiz.de/10005136625
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Rebate or Bait? A Model of Regret and Time Inconsistency in Consumer Behaviour
Drago, Francesco; Kadar, Dora - C.E.P.R. Discussion Papers - 2006
In this paper we develop a theory of time-inconsistency and regret that is motivated by evidence on a 'price … future self-control problems and the sunk-cost effect (regret). We assume that agents deviating from their past choices …
Persistent link: https://www.econbiz.de/10005114356