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Di Tillio, Alfredo; Kos, Nenad; Messner, Matthias - 2014

This paper explores the sale of an object to an ambiguity averse buyer. We show that the seller can increase his profit by using an ambiguous mechanism. That is, the seller can benefit from hiding certain features of the mechanism that he has committed to from the agent. We then characterize the...

Persistent link: https://www.econbiz.de/10010399062

Rational choice

Allingham, Michael - 1999 - 1. publ.

Persistent link: https://www.econbiz.de/10000684176

Heuristics and public policy : decision making under bounded rationality

Dhami, Sanjit S.; Al-Nowaihi, Ali; Sunstein, Cass R. - 2018

How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality … rationality, with particular emphasis on growing formalization of those departures, which add necessary precision. We also explore … the relationship between bounded rationality and libertarian paternalism, or nudges, and show that some recent objections …

Persistent link: https://www.econbiz.de/10011926917

Intuitive and deliberative decision-making in negotiations

Zulauf, Katrin; Wagner, Ralf - In: Management dynamics in the knowledge economy 9 (2021) 3/33, pp. 293-306

Persistent link: https://www.econbiz.de/10012649778

Ambiguity attitudes of individuals and groups in gain and loss domains

Minnich, Aljoscha; Lange, Andreas - 2023

This study measures the differences in ambiguity attitudes of groups and individuals in the gain and loss domain. We elicit the ambiguity attitudes and ambiguity-generated insensitivity for natural temperature events. We do not find significant differences between individuals and groups in our...

Persistent link: https://www.econbiz.de/10014431395

Agent-based modeling for decision making in economics under uncertainty

Vermeulen, Ben; Pyka, Andreas - 2016

Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...

Persistent link: https://www.econbiz.de/10011422415