Similar Search Results

Compared to Dematerialized Money, Cash Increases Impatience in Intertemporal Choice

Duclos, Rod - 2019

When it comes to trading time for money (or vice versa), people tend to be impatient and myopic. Often dramatically so. For illustration, half of people would rather collect $15 now than $30 in three months. This willingness to forego 50% of the reward to skip a 3-month wait corresponds to an...

Persistent link: https://www.econbiz.de/10012893915

Measuring price risk aversion through indirect utility functions : a laboratory experiment

Zeytoon-Nejad, Ali - In: Games 13 (2022) 4, pp. 1-43

under the expected utility theory (EUT) are somewhat subject to context. Other findings imply that the risk premium (RP), as … prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper … introduces the main elements of the duality theory (DT) in economics. Next, it proposes the context of IUFs as a suitable …

Persistent link: https://www.econbiz.de/10013368182

Sunspots in the Laboratory

Duffy, John - 2016

We show that extrinsic or non-fundamental uncertainty influences markets in a controlled environment. This work provides the first direct evidence of sunspot equilibria. These equilibria require a common understanding of the semantics of the sunspot variable, and they appear to be sensitive to...

Persistent link: https://www.econbiz.de/10012707242

Cooperation in an overlapping generations experiment

Offerman, Theo; Potters, Jan; Verbon, Harry A. A. - 1998

Recent theoretical work shows that folk theorems can be developed for infiniteoverlapping generations games. Cooperation in such games can be sustained as aNash equilibrium. Besides the efficient cooperative equilibrium there is alsothe inefficient non-cooperative equilibrium. This paper...

Persistent link: https://www.econbiz.de/10011301169

Fairness and competition in a bilateral matching market

Bester, Helmut - 2021

This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes. In equilibrium fairness matters because of market...

Persistent link: https://www.econbiz.de/10012587476

Fairness and competition in a bilateral matching market

Bester, Helmut - 2021

Persistent link: https://www.econbiz.de/10012648091

Are the poor more impatient than the rich? : experimental evidence on the effect of (lab) wealth on intertemporal preferences

Siebert, Jan - 2020

Poor people have, on average, a higher marginal propensity to consume. One (out of many) possible explanations for this is that poverty affects impatience. This would have important implications for monetary and fiscal policy. While some macroeconomists simply assume lower individual discount...

Persistent link: https://www.econbiz.de/10012206628

An experimental study on the crowding-out effect of public transfers in a model with multiple families

Güth, Werner (contributor) - 2000

Persistent link: https://www.econbiz.de/10001473743

An experimental study on the crowding-out effect of public transfers in a model with multiple families

Güth, Werner (contributor) - 2000

Persistent link: https://www.econbiz.de/10001491023

Monetary theory in the laboratory

Duffy, John - In: Review / Federal Reserve Bank of St. Louis 80 (1998) 5, pp. 9-26

Persistent link: https://www.econbiz.de/10001352503