Similar Search Results

A model of reference-dependent belief updating

Maier, Johannes K.; König, Clemens - 2016

We propose a model of instrumental belief choice under loss aversion. When new information arrives, an agent is prompted to abandon her prior. However, potential posteriors may induce her to take actions that generate a lower utility in some states than actions induced by her prior. These losses...

Persistent link: https://www.econbiz.de/10011557745

Cognitive uncertainty and overconfidence

Amelio, Andrea - 2022

Overconfidence is one of the most ubiquitous cognitive bias. There is copious evidence of overconfidence being relevant in a diverse set of economic domains. In this paper, we relate the recent concept of cognitive uncertainty with overconfidence. Cognitive uncertainty represents a decision...

Persistent link: https://www.econbiz.de/10013257953

Time Pressure and Regret in Sequential Search

Klimm, Felix; Kocher, Martin; Opitz, Timm; Schudy, Simeon - 2021

Perceived urgency and regret are common in many sequential search processes; for example, sellers often pressure buyers in search of the best offer, both time-wise and in terms of potential regret of forgoing unique purchasing opportunities. Theoretically, these strategies result in anticipated...

Persistent link: https://www.econbiz.de/10013224079

Imperfect recall and time inconsistencies : an experimental test of the absentminded driver “paradox”

Levati, M. Vittoria; Uhl, Matthias; Zultan, Ro'i - 2010

Absentmindedness is a special case of imperfect recall which according to Piccione and Rubinstein (1997a) leads to time inconsistencies. Aumann, Hart and Perry (1997a) question their argument and show how dynamic inconsistencies can be resolved. The present paper explores this issue from a...

Persistent link: https://www.econbiz.de/10003980493

Social anchor effects in decision-making under ambiguity

Lahno, Amrei M. - 2014

I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity. In a between-subjects design I vary whether subjects learn choices made individually by a "peer" in a first part when facing the same task a second time, and whether prospects...

Persistent link: https://www.econbiz.de/10010364762

Time pressure and regret in sequential search

Klimm, Felix; Kocher, Martin; Opitz, Timm; Schudy, Simeon - 2021

Persistent link: https://www.econbiz.de/10012534681

Time pressure and regret in sequential search

Klimm, Felix; Kocher, Martin; Opitz, Timm; Schudy, Simeon - 2022

Perceived urgency and regret are common in many sequential search processes; for example, sellers often pressure buyers in search of the best offer, both time-wise and in terms of potential regret of forgoing unique purchasing opportunities. theoretically, these strategies result in anticipated...

Persistent link: https://www.econbiz.de/10014476728

Best responding to what? : a behavioral approach to one shot play in 2x2 games

Gallice, Andrea - 2007

' beliefs. Various proposals connected with the concept of mixed strategy Nash equilibrium do not match this description. On the … other hand minimax regret obeys all the axioms. Therefore we use minimax regret to approximate players' beliefs and we let … players best respond to these conjectured beliefs. When compared with existing experimental evidences about one shot matching …

Persistent link: https://www.econbiz.de/10010439356

Organizations, Diffused Pivotality and Immoral Outcomes

Falk, Armin; Szech, Nora - 2013

This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for money or to save mice. We compare a Baseline treatment where subjects are fully pivotal to a Diffused-Pivotality treatment where subjects simultaneously choose in groups of...

Persistent link: https://www.econbiz.de/10014155602

Decisions Under Uncertainty in Social Contexts

Müller, Stephan - 2017

This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral determinants in such contexts. Our model and the data...

Persistent link: https://www.econbiz.de/10012967946