Showing 1 - 10 of 379
This paper proposes a conceptual model of decision-making tying specific preferences to broader individual goals. In … preferences (e.g., salad instead of cake, sports club instead of reading, etc.). Notably, originating from the simplification of a …, which can be addressed, instead of having generally inconsistent preferences, which are hard to rank without further …
Persistent link: https://www.econbiz.de/10015197311
Using an extensive longitudinal dataset extracted from the Norwegian Prescription Database (NorPD) containing all prescriptions written in the period January 2004 to June 2007, we selected two particular drugs (chemical substances) used against cholesterol. The two brand-name products on the...
Persistent link: https://www.econbiz.de/10008697144
Several empirical studies provide evidence that their actual health state affects people's attitudes towards health and … inconsistency of preferences reinforces or tones down moral hazard problems. …
Persistent link: https://www.econbiz.de/10003300915
consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and … structure of information. Using a novel and purposefully simple set-up, we experimentally analyze preferences for information …. Variations in prior distributions do not seem to affect information preferences. …
Persistent link: https://www.econbiz.de/10011523747
A longstanding distinction in psychology is between implicit and explicit preferences. Implicit preferences are … implicit preferences directly from choices. The necessary assumption is that implicit preferences toward an attribute (e … "revealing" about one's preferences. We discuss reasons why preferences would have this property, advantages and disadvantages of …
Persistent link: https://www.econbiz.de/10011415271
We study the optimal design of information nudges for present-biased consumers who have to make sequential consumption decisions without exact prior knowledge of their long-term consequences. For arbitrary distributions of risk, there exists a consumer-optimal information nudge that is of cutoff...
Persistent link: https://www.econbiz.de/10011931410
biases generate prior-dependent information preferences, such that agents may avoid information when being unconfident but … going to be used, the model allows us to explore how these predictions change with either individual preferences or the …
Persistent link: https://www.econbiz.de/10011557745
to be in a separate class. We also show that apparent intransitivities of time preferences can be accounted for by …
Persistent link: https://www.econbiz.de/10011800177
negative skewness, little is known about the implications of such skewness preferences for decision making in dynamic problems …. Indeed, skewness preferences might play an even bigger role in dynamic environments because, even if the underlying … preferences for optimal stopping problems. We find strong support for all salience-based predictions in a laboratory experiment …
Persistent link: https://www.econbiz.de/10012263367
We study two dimensions of complexity that may interfere with individual choice. The first one is object complexity, which corresponds to the difficulty in evaluating any given alternative in a choice set. The second dimension is composition complexity, which increases when suboptimal...
Persistent link: https://www.econbiz.de/10012602341