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This paper proposes a simple framework to model contextual influences on procedural decision making. In terms of …
Persistent link: https://www.econbiz.de/10012697051
We present a theory of context-dependent risk preferences under which within-state payoff comparisons and regret aversion shape decisions. Defining the attraction and compromise effect in reference to a state-space-based description of the choice problem, we show that our theory can account for...
Persistent link: https://www.econbiz.de/10015182570
decision makers exhibit a "memory premium." They tend to choose in-memory alternatives over out-of-memory ones, even when the …, the memory premium is associative, subject to interference and repetition effects, and decays over time. Even as decision …
Persistent link: https://www.econbiz.de/10015358998
This paper presents an empirical investigation of the relation between decision speed and decision quality for a real …-by-move data provide exceptionally detailed and precise information about decision times and decision quality, based on a … with the predictions of procedural decision models like drift-diffusion-models in which decision makers sequentially …
Persistent link: https://www.econbiz.de/10012806643
. Second, even highly experienced decision-makers are more likely to make mistakes when choosing from sets with higher …
Persistent link: https://www.econbiz.de/10012602341
This paper studies experimentally when and how ideological motives shape outcomes in group decision-making scenarios …
Persistent link: https://www.econbiz.de/10012383716
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
This paper investigates time inconsistencies in food consumption based on a field experiment at a college canteen where participants repeatedly select and consume lunch menus. The design features a convex non-monetary budget in a natural environment and satisfies the consume-on-receipt...
Persistent link: https://www.econbiz.de/10015098967
selfish. Examining public good games researchers have shown that fast decision makers appear more generous than slow decision … slow decision makers, these differences are not significant for fast decision makers. Fast decision makers are in both …
Persistent link: https://www.econbiz.de/10010412857