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Many economic decisions involve a substantial amount of uncertainty, and therefore crucially depend on how individuals process probabilistic information. In this paper, we investigate the capability for probability judgment in a representative sample of the German population. Our results show...
Persistent link: https://www.econbiz.de/10013159743
This paper provides field evidence on (a) how price framing affects consumers' decision to switch health insurance … plans and (b) how the price elasticity of demand for health insurance can be influenced by policymakers through simple … health insurance companies to express price differences between health plans in absolute Euro values rather than percentage …
Persistent link: https://www.econbiz.de/10013113068
increase the price of some products when they observe in their cities an exogenous influx of parents of newborns, conceivably …
Persistent link: https://www.econbiz.de/10013046241
supply behavior of a couple in a non-cooperative setting by adopting a Nash approach. Using minimal assumptions, we prove …
Persistent link: https://www.econbiz.de/10013158087
In this paper we investigate how cognitive ability and character skills influence behavior, success and the evolution … of play towards Nash equilibrium in repeated strategic interactions. We study behavior in a p-beauty contest experiment … equilibrium, converge more frequently to equilibrium play and earn more even as behavior approaches the equilibrium prediction …
Persistent link: https://www.econbiz.de/10013052550
cause large shifts in behavior. Our results illustrate important implications of complexity for designing and regulating …
Persistent link: https://www.econbiz.de/10014347039
People use information about their ability to choose tasks. If more challenging tasks provide more accurate information about ability, people who care about and who are risk averse over their perception of their own ability will choose tasks that are not sufficiently challenging. Overestimation...
Persistent link: https://www.econbiz.de/10013158056
In this paper we question the hypothesis of full rationality in the context of job changing behavior, via simple … mobility and not in other instances of economic behavior? Recent literature on bounded rationality strongly suggests the …
Persistent link: https://www.econbiz.de/10013317208
for a 3D movie when the 3D surcharge is shrouded, but they also drop out more often when the overall price is shown at the … checkout. In sum, the demand distribution is independent of the price presentation. This result outlines the limits of the …
Persistent link: https://www.econbiz.de/10013315163
We build a model of conflict in which two groups contest a resource and must decide on the optimal allocation of labor between fighting and productive activities. In this setting, a diaspora emanating from one of the two groups can get actively involved in the conflict by transferring financial...
Persistent link: https://www.econbiz.de/10012981492