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Cognitive uncertainty and overconfidence
Amelio, Andrea - 2022
overconfidence. Cognitive uncertainty represents a decision maker's uncertainty about her action optimality. We present a simple … model of overconfidence based on the concept of cognitive uncertainty. The model relates the concepts theoretically and …Overconfidence is one of the most ubiquitous cognitive bias. There is copious evidence of overconfidence being relevant …
Persistent link: https://www.econbiz.de/10013257953
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The curse of knowledge increases self-selection into competition : experimental evidence
Danz, David - 2014 - Rev.
overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of …
Persistent link: https://www.econbiz.de/10010403249
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Illusion of expertise in portfolio decisions : an experimental approach
Fellner, Gerlinde; Güth, Werner; Maciejovsky, Boris - 2001
Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers nevertheless the self-selected portfolio. After being randomly assigned to groups of four...
Persistent link: https://www.econbiz.de/10011408429
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Causes, consequences, and cures of myopic loss aversion -An experimental investigation
Fellner, Gerlinde; Sutter, Matthias - Max-Planck-Institut für Ökonomik <Jena> - Abteilung … - 2005
Myopic loss aversion (MLA) has been established as one prominentexplanation for the equity premium puzzle. In this paper we address two issuesrelated to the effects of MLA on risky investment decisions. First, we assess therelative impact of feedback frequency and investment flexibility (via...
Persistent link: https://www.econbiz.de/10005866865
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Risk taking in diverse groups : gender matters
Nieboer, Jeroen - 2013
Using an experiment with incentivized decisions of groups in the economics laboratory, I investigate the effect of group diversity on group risk taking. I measure econometrically the effects of various aspects of subjects' diversity: nationality, language, university degree and gender. I find...
Persistent link: https://www.econbiz.de/10010187863
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Do reciprocators exploit or resist moral wiggle room? : an experimental analysis
Matthey, Astrid; Regner, Tobias - 2015
By now there is substantial experimental evidence that people make use of "moral wiggle room" (Dana et al., 2007), that is, they tend to exploit moral excuses for selfish behavior. However, this evidence is limited to dictator games. In our experiment, a trust game variant, we study whether...
Persistent link: https://www.econbiz.de/10011446176
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Benefit losses loom larger than taxes : the effects of framing and loss aversion on behavioural responses to taxes and benefits
Avram, Silvia - 2015
A substantive body of research highlights the existence of framing effects in labour supply responses to taxation challenging traditional models that assume taxes only influence behaviour via the budget constraint. Using a lab experiment, this paper examines the presence of differential...
Persistent link: https://www.econbiz.de/10011318402
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Reciprocity under moral wiggle room : is it a preference or a constraint?
Regner, Tobias - 2016
We analyze reciprocal behavior when moral wiggle room exists. Dana et al. (2007) show that giving in a dictator game is only partly due to distributional preferences as the giving rate drops when situational excuses for selfish behavior are provided. Our binary trust game closely follows their...
Persistent link: https://www.econbiz.de/10011576929
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Negotiation under the curse of knowledge
Pierrot, Thibaud - 2019 - Revised November 2019
An individual is affected by the curse of knowledge when he fails to appreciate the viewpoint of a lesser-informed agent. In contrast to a rational person, the cursed individual behaves as if part of his private information were common knowledge. This systematic cognitive bias alters many...
Persistent link: https://www.econbiz.de/10012129125
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Negotiation under the curse of knowledge
Pierrot, Thibaud - 2019
An individual is affected by the curse of knowledge when he fails to appreciate the viewpoint of a lesser-informed agent. In contrast to a rational person, the cursed individual behaves as if part of his private information were common knowledge. This systematic cognitive bias alters many...
Persistent link: https://www.econbiz.de/10012104838