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Time discounting for primary and monetary rewards

Reuben, Ernesto; Sapienza, Paola; Zingales, Luigi - Volkswirtschaftliche Fakultät, … - 2008

This paper shows that there is a positive and statistically significant correlation between the short-term discount rate over a monetary reward and the short-term discount rate over a primary reward (chocolate). This correlation, however, is absent among subjects who do not like chocolate and...

Persistent link: https://www.econbiz.de/10005835857

A Theory of Rational Attitude Polarization

Benoît, Jean-Pierre; Dubra, Juan - Volkswirtschaftliche Fakultät, … - 2014

Numerous experiments have demonstrated the possibility of attitude polarization. For instance, Lord, Ross & Lepper (1979) partitioned subjects into two groups, according to whether or not they believed the death penalty had a deterrent effect, and presented them with a set of studies on the...

Persistent link: https://www.econbiz.de/10011112021

Linking Decision and Time Utilities

Kontek, Krzysztof - Volkswirtschaftliche Fakultät, … - 2010

concerning choices under conditions of risk, the other concerning choices in time. The paper first presents the general formula … is an alternative to Cumulative Prospect Theory in describing choices under risk (Kontek, 2010). The stretched …

Persistent link: https://www.econbiz.de/10008765904

Guilt aversion and peer effects in crime: experimental and empirical evidence from Bangladesh

Shoji, Masahiro - Volkswirtschaftliche Fakultät, … - 2013

I conducted an artefactual field experiment to identify whether guilt reduces crime, and how the crime reduction effects of guilt change due to peer effects. Guilt aversion predicts the occurrence of peer effects caused by changes in guilt sensitivity and belief. I found supporting evidence of...

Persistent link: https://www.econbiz.de/10011113251

From the lab to the field: envelopes, dictators and manners

Stoop, Jan - Volkswirtschaftliche Fakultät, … - 2012

Results are reported of the first natural field experiment on the dictator game, where subjects are unaware that they participate in an experiment. In contrast to predictions of the standard economic model, dictators show a large degree of pro-social behavior. This paper builds a bridge from the...

Persistent link: https://www.econbiz.de/10009652044

Additive representation of separable preferences over infinite products

Pivato, Marcus - Volkswirtschaftliche Fakultät, … - 2011

Let X be a set of states, and let I be an infinite indexing set. Our first main result states that any separable, permutation-invariant preference order () on X^I admits an additive representation. That is: there exists a linearly ordered abelian group A and a `utility function' u:X--A such...

Persistent link: https://www.econbiz.de/10008805853

How to adapt to changing markets: experience and personality in a repeated investment game

Hopfensitz, Astrid; Wranik, Tanja - Volkswirtschaftliche Fakultät, … - 2009

particular, we found that optimism and anxiety were a liability in unfavorable markets, leading to unreasonable levels of risk …. Impulsivity was a liability in both favorable and unfavorable markets, leading to high risk on unfavorable markets, and low risk … in favorable markets. Openness to experience was an asset in unfavorable markets, leading to adjusted risk taking …

Persistent link: https://www.econbiz.de/10008531713

Action bias among elite soccer goalkeepers: The case of penalty kicks

Bar-Eli, Michael; Azar, Ofer H.; Ritov, Ilana; … - Volkswirtschaftliche Fakultät, … - 2005

In soccer penalty kicks, goalkeepers choose their action before they can clearly observe the kick direction. An analysis of 286 penalty kicks in top leagues and championships worldwide shows that given the probability distribution of kick direction, the optimal strategy for goalkeepers is to...

Persistent link: https://www.econbiz.de/10005621397

Ellsberg Paradox and Second-order Preference Theories on Ambiguity: Some New Experimental Evidence

Yang, Chun-Lei; Yao, Lan - Volkswirtschaftliche Fakultät, … - 2011

replacement and a different color wins in each draw. The 50-50 risky urn turns out to have the highest risk conceivable among all … of SEU share the same predictions in our design, for any first-order risk attitude. Yet, we observe that substantial …

Persistent link: https://www.econbiz.de/10008833271

Risk preference elicitation without the confounding effect of probability weighting

Drichoutis, Andreas; Lusk, Jayson - Volkswirtschaftliche Fakultät, … - 2012

In this paper we show that the wildly popular Holt and Laury (2002) risk preference elicitation method confounds … estimates of the curvature of the utility function, the traditional notion of risk preference, with an estimate of the extent to … that our new method yields significantly different levels of implied risk aversion than the Holt and Laury task even after …

Persistent link: https://www.econbiz.de/10011107621