Showing 1 - 10 of 352
and knowledge in individual decision making under ambiguity. Reactions to a natural source of uncertainty (i ….e., forthcoming real-world election results) were measured using both computed decision weights derived from individual choices and … elevation of the decision weighting function for gains). Both stronger positive emotions and superior knowledge generally have …
Persistent link: https://www.econbiz.de/10012167905
constructive preference perspective suggested by Kahneman and Tversky. In a dynamic decision context, type indeterminacy induces a …
Persistent link: https://www.econbiz.de/10009752851
We propose a framework in order to econometrically estimate case-based learning and apply it to empirical data from twelve 2 × 2 mixed strategy equilibria experiments. Case-based learning allows agents to explicitly incorporate information available to the experimental subjects in a simple,...
Persistent link: https://www.econbiz.de/10012432206
or being alone. In contrast to previous economic research on group decision-making, we excluded the effects of group …. Moreover, we adopted two collective decision rules, i.e., the median rule and the random rule, which provide the truth …, regardless of which collective decision rules are adopted. …
Persistent link: https://www.econbiz.de/10014420471
confidence and ambiguity attitudes in individual decision making. Different ambiguity settings not only can be determined by the … lack of information in possible scenarios completely “external” to the decision-maker, but can also be a consequence of the … decision maker’s ignorance about her own characteristics or performance and, thus, deals with confidence. We design a …
Persistent link: https://www.econbiz.de/10012015585
independent of strategic considerations. These biases bring out individual trade-offs between the accuracy of decision making and …
Persistent link: https://www.econbiz.de/10012014965
We introduce a dynamic model of emotional behavior regulation that can generalize to a wide range of decision dilemmas …. Dilemmas are characterized by availability of mutually exclusive goals that a decision maker is dually motivated to pursue. In … observed between so-called “preferences” revealed in repeated decision dilemmas (e.g., by choosing A over B at time 1, then …
Persistent link: https://www.econbiz.de/10011708855
Standard equilibrium concepts in game theory find it difficult to explain the empirical evidence from a large number of static games, including the prisoner's dilemma game, the hawk-dove game, voting games, public goods games and oligopoly games. Under uncertainty about what others will do in...
Persistent link: https://www.econbiz.de/10011384070
, people may behave as if they would perform a non-strategic decision making task when in fact they are playing a proper game …
Persistent link: https://www.econbiz.de/10011993280
methodologies for understanding decision-making under pressure. In the non-transitive game rock, paper, scissors (RPS), the only … behavior is thought to be outside bounded rationality and so decision-making can become deterministic, predictable, and …
Persistent link: https://www.econbiz.de/10012062319