Showing 1 - 10 of 2,636
We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates standard risk aversion (diminishing marginal utility for wealth) and probability distortions. We find that probability distortions - characterized by substantial overweighting of small...
Persistent link: https://www.econbiz.de/10010288237
We consider a consumption model that takes into account the valuation and demand uncertainties that consumers face while using access services. Typical examples of such services include telecommunication services, extended warranties for consumer electronics, and club memberships. We demonstrate...
Persistent link: https://www.econbiz.de/10013111994
thereby distort optimal search. In addition, urgency may alter decision-making processes and thereby the salience of regret … interaction on search behavior in a pre-registered, theory-based, and well-powered experiment. We find that urgency reduces … decision times and perceived decision quality but does not alter search length. Only very inexperienced decision-makers buy …
Persistent link: https://www.econbiz.de/10013224079
This paper is the first attempt towards directly testing the existence of status seeking behavior of the poor for a developing economy, India, with the help of a large dataset. The paper empirically validates status consciousness among the relatively poor for both rural and urban areas across...
Persistent link: https://www.econbiz.de/10012908708
We consider a consumption model that takes into account the valuation and demand uncertainties that consumers face while using access services. Typical examples of such services include telecommunication services, extended warranties for consumer electronics, and club memberships. We demonstrate...
Persistent link: https://www.econbiz.de/10010280840
that the choices of the proposers and the responders are consistent with social identity theory (higher offers and lower …
Persistent link: https://www.econbiz.de/10012908662
We propose a theoretical model that embeds social identity concerns, as in Akerlof and Kranton (2000), with inequity averse preferences, as in Fehr and Schmidt (1999). We conduct an artefactual ultimatum game experiment with registered members of British political parties, for whom political...
Persistent link: https://www.econbiz.de/10012828983
the public good and leisure is valuable. Existing experiments start with a given number of tokens for each decision … to (or simultaneously with) the decision of how to allocate that income between private and public goods. …
Persistent link: https://www.econbiz.de/10010274945
Redistribution is an inevitable feature of collective pension schemes and economic experiments have revealed that most people have a preference for redistribution that is not merely inspired by self-interest. Interestingly, little is known on how these preferences interact with preferences for...
Persistent link: https://www.econbiz.de/10010270867
This paper proposes a simple framework to model contextual influences on procedural decision making. In terms of …
Persistent link: https://www.econbiz.de/10013311714