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violated expected utility theory. Ross (1999) and others presented examples where expected utility maximizers would accept …
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Based on a simple prior, this note derives upper bounds for the coefficient of absolute & relative risk aversion if …
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Before a group can take a decision, its members must agree on a mechanism to aggregate individual preferences. In this … paper we present the results of an experiment on the influence of private payoff information and the role of the available …
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We introduce a new measure of stereotypes based on the principle of a multiple-price list: the elicitation of willingness to have an ethnic minority member in a team. We apply it on an example of the Roma in the Czech Republic and test on a sample of 100 students from the majority population. We...
Persistent link: https://www.econbiz.de/10014533503
To address the impact of regulation on ethical concerns of consumers, we study the example of minimum wages. In our experimental market, consumers have monopsony power, firms set prices and wages, and workers are passive recipients of a wage payment. We find that the consumers exhibit...
Persistent link: https://www.econbiz.de/10011489877
experiment, however, individuals have much more information available than outside the lab. We conduct a lab experiment to test … share of subjects behaves proscially and a concern for effciency plays an important role. In our experiment the information …
Persistent link: https://www.econbiz.de/10011490225