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can generate systematic biases in revealed preference measures such as spurious risk aversion. These effects are very …
Persistent link: https://www.econbiz.de/10014340230
when a decision is complex, they implicitly treat different time delays to some degree alike. By experimentally measuring … when the decision environment is more complex. Third, cognitive uncertainty matters for choice architecture: people who are …
Persistent link: https://www.econbiz.de/10012697938
social context affected risk-taking behavior. Remotely, pairs take far fewer risks when the stakes are high than in the flesh …
Persistent link: https://www.econbiz.de/10013440406
We conduct an incentivized experiment on a nationally representative US sample (N=708) to test whether people prefer to avoid ambiguity even when it means choosing dominated options. In contrast to the literature, we find that 55% of subjects prefer a risky act to an ambiguous act that always...
Persistent link: https://www.econbiz.de/10014426529
We compare preferences for temporal resolution when uncertainty is resolved over a probability rather than a value. In various frameworks-e.g., Kreps and Porteus (1978)-, preferences over gradual versus one-shot resolution do not depend on whether values or probabilities define the main object...
Persistent link: https://www.econbiz.de/10014456336
. Third, we find that once people have made a decision, they tend to repeat it, demonstrating a strong preference for the …
Persistent link: https://www.econbiz.de/10012694052
We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true … preferences. Among the behavioral patterns that allow for a clear-cut interpretation on the decision level, we find that roughly …
Persistent link: https://www.econbiz.de/10014556632
In prosocial decisions, decision-makers are inherently uncertain about how their decisions impact others’ utility – we …
Persistent link: https://www.econbiz.de/10014576953
dimension for dishonest decision-making and for the cognition process of the chance to deceive. We conduct a laboratory … intuitive decision while others allow for extensive reflection time. To be able to pursue a deceptive strategy, however, a … experiment of self-serving deceptive behavior which combines two exogenously varied levels of reflection time with a cognition …
Persistent link: https://www.econbiz.de/10011723505
We designed four observational learning experiments to identify the key channels that, along with Bayes-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in turn by subjects endowed with private signals of...
Persistent link: https://www.econbiz.de/10011789104