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Many studies document failures of expected utility’s key assumption, the independence axiom. Here, we show that independence can be decomposed into two distinct axioms – betweenness and homotheticity – and that these two axioms are necessary and sufficient for independence. Thus,...
Persistent link: https://www.econbiz.de/10011074871
Many studies document failures of expected utility's key assumption, the independence axiom. Here, we show that independence can be decomposed into two distinct axioms - betweenness and homotheticity - and that these two axioms are necessary and sufficient for independence. Thus, independence...
Persistent link: https://www.econbiz.de/10011282512
Cooperation problems are at the heart of many everyday situations. In this paper, we propose a very simple and light-handed mechanism to sustain cooperation and test its performance in a rich laboratory environment. The mechanism moderates cooperation by controlling experiences, more...
Persistent link: https://www.econbiz.de/10010281841
Many studies document failures of expected utility’s key assumption, the independence axiom. Here, we show that independence can be decomposed into two distinct axioms - betweenness and homotheticity - and that these two axioms are necessary and sufficient for independence. Thus, independence...
Persistent link: https://www.econbiz.de/10010430733
Cooperation problems are at the heart of many everyday situations. In this paper, we propose a very simple and light-handed mechanism to sustain cooperation and test its performance in a rich laboratory environment. The mechanism moderates cooperation by controlling experiences, more...
Persistent link: https://www.econbiz.de/10009007141
Many studies document failures of expected utility’s key assumption, the independence axiom. Here, we show that independence can be decomposed into two distinct axioms – betweenness and homotheticity – and that these two axioms are necessary and sufficient for independence. Thus,...
Persistent link: https://www.econbiz.de/10014140738
psychology of learning, and work form social scientists on learning.The paper makes the following claim: typically the law … reaches its addressees indirectly. The law is not followed, it is learned. There are two distinct learning objects. Throughout … take the form of schema-like social mirror rules, or of exemplars.Learning also is the key to understanding how individuals …
Persistent link: https://www.econbiz.de/10010324009
psychology of learning, and work form social scientists on learning.The paper makes the following claim: typically the law … reaches its addressees indirectly. The law is not followed, it is learned. There are two distinct learning objects. Throughout … take the form of schema-like social mirror rules, or of exemplars.Learning also is the key to understanding how individuals …
Persistent link: https://www.econbiz.de/10011582792
Many of the most important choices in people's lives have an inter-temporal dimension, i.e., these choices are associated with a flow of benefits or costs that accrue in the future. In addition, such choices are frequently habit-forming. Yet, little is known about habit-forming inter-temporal...
Persistent link: https://www.econbiz.de/10014155238
psychology of learning, and work from social scientists on learning. The paper makes the following claim: typically the law … reaches its addressees indirectly. The law is not followed, it is learned. There are two distinct learning objects. Throughout … take the form of schema-like social mirror rules, or of exemplars. Learning also is the key to understanding how …
Persistent link: https://www.econbiz.de/10014071940