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The effect of the social environment during childhood on preferences in adulthood
Abeler, Johannes; Fosgaard, Toke Reinholt; Gårn … - 2023
Preferences are key for shaping decision-making, yet it remains an open question where preferences originate from. We investigate the causal effect of the childhood social environment on adults’ preferences. We utilize a natural experiment in Denmark, which randomized refugees to different...
Persistent link: https://www.econbiz.de/10014382262
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Identifying nontransitive preferences
Alós-Ferrer, Carlos; Fehr, Ernst; Garagnani, Michele - 2023 - Revised version
Transitivity is perhaps the most fundamental choice axiom and, therefore, almost all economic models assume that … preferences are transitive. The empirical literature has regularly documented violations of transitivity, but these violations … deterministic part of individuals' preferences. However, what if transitivity violations reflect individuals' genuinely …
Persistent link: https://www.econbiz.de/10013489445
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Identifying nontransitive preferences
Alós-Ferrer, Carlos; Fehr, Ernst; Garagnani, Michele - 2022 - This version: July 2nd, 2022
Transitivity is perhaps the most fundamental choice axiom and, therefore, almost all economic models assume that … preferences are transitive. The empirical literature has regularly documented violations of transitivity, but these violations … deterministic part of individuals' preferences. However, what if transitivity violations reflect individuals' nontransitive …
Persistent link: https://www.econbiz.de/10013277067
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An Alternative Subjective Expected Utility Representation Theorem
Kuzmics, Christoph - 2012
A decision maker (DM) is asked to make choices from a set of acts, which entail both risk and uncertainty in the sense of knight (1921). Extending Raiffa's (1961) argument I show that, provided the DM can choose acts objectively randomly (by flipping her own fair coin, for instance), provided...
Persistent link: https://www.econbiz.de/10013101803
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The Impact of Exposure to Armed Conflict on Risk and Ambiguity Attitudes
Kibris, Arzu; Uler, Neslihan - 2021
We conduct an incentive-compatible lab-in-the-field experiment with a large representative sample to study how exposure to armed conflict affects risk and ambiguity attitudes of individuals. We identify random exposure to conflict by relying on a natural experiment in Turkey created by the...
Persistent link: https://www.econbiz.de/10013230631
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Inferring preferences from choices under uncertainty
Kuzmics, Christoph - 2012
If a decision maker, in a world of uncertainty à la Anscombe and Aumann (1963), can choose acts according to some objective probability distribution (by throwing dice for instance) from any given set of acts, then there is no set of acts that allows an experimenter to test more than the Axiom...
Persistent link: https://www.econbiz.de/10009509223
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Cooperating over losses and competing over gains : a social dilemma experiment
Ispano, Alessandro; Schwardmann, Peter - 2016
Evidence from studies in international relations, the politics of reform, collective action and price competition suggests that economic agents in social dilemma situations cooperate more to avoid losses than in the pursuit of gains. To test whether the prospect of losses can induce cooperation,...
Persistent link: https://www.econbiz.de/10011438253
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Cooperating over losses and competing over gains : a social dilemma experiment
Ispano, Alessandro; Schwardmann, Peter - 2017
Evidence from studies in international relations, the politics of reform, collective action and price competition suggests that economic agents in social dilemma situations cooperate more to avoid losses than in the pursuit of gains. To test whether the prospect of losses can induce cooperation,...
Persistent link: https://www.econbiz.de/10011626601
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Abraham Wald's Complete Class Theorem and Knightian Uncertainty
Kuzmics, Christoph - 2017
I study the implications of Abraham Wald's (1947) complete class theorem for decision making under Knightian uncertainty (or ambiguity). Suppose we call someone who uses Wald's approach to statistical decision making a Waldian. A Waldian may then have preferences over acts that are not in...
Persistent link: https://www.econbiz.de/10012972129
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Eingeschränkt rationales Verhalten : Evidenz und wirtschaftspolitische Implikationen
Altmann, Steffen; Falk, Armin; Marklein, Felix - 2009
Die Präzision ökonomischer Prognosen und die Qualität politischer Handlungsempfehlungen hängen in entscheidendem Ausmaß von der Qualität des zugrunde liegenden Verhaltensmodells ab. Nur ein empirisch gut fundiertes Modell ökonomischen Handelns erlaubt es, die Konsequenzen politischer...
Persistent link: https://www.econbiz.de/10003874807