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Kahneman and Tversky (1979) argued that risky decisions in high stakes environments can be informed using questionnaires with hypothetical choices. Yet results by Holt and Laury (2002) suggest that questionnaire responses and decisions in hypothetical and low monetary payoff environments do not...
Persistent link: https://www.econbiz.de/10010719274
We conduct an incentive-compatible lab-in-the-field experiment with a large representative sample to study how exposure … on a natural experiment in Turkey created by the military institutions and the long running civil conflict in the country …
Persistent link: https://www.econbiz.de/10013230631
prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper … experiment using a series of relevant statistical tests. This study uses the multiple price list (MPL) method, which has been one …
Persistent link: https://www.econbiz.de/10013368182
-based questionnaire before the experiment and participants' preferencesfor resolution timing, risk, and time were incentive compatibly … measured during the experiment.Main findings are that delayed resolution can affect investment, that the effect depends on the …
Persistent link: https://www.econbiz.de/10011374397
choices being observed, compared to anonymity of choices, on risk taking in a laboratory experiment. I relate participants …
Persistent link: https://www.econbiz.de/10011930435
Overconfidence is one of the most ubiquitous cognitive bias. There is copious evidence of overconfidence being relevant … 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 …
Persistent link: https://www.econbiz.de/10013257953
uncertainty. We designed a multi-period experiment in which each period consisted of two stages, an R&D phase and a pricing stage …. Participants in the experiment had almost no information about the underlying functions, parameters, and probabilities. Subjects …' behavior in the fundamentally uncertain environment of our experiment may best be characterized as some kind of procedural …
Persistent link: https://www.econbiz.de/10010481420
Anticipating "social risk", or risk caused by humans, affects decision-making differently from anticipating natural risk. Drawing upon a large sample of the US population (n=3,982), we show that the phenomenon generalizes to risk experience. Experiencing adverse outcomes caused by another human...
Persistent link: https://www.econbiz.de/10012598407
We summarise our two sets of controlled experiments designed to see if single-sex classes within coeducational environments modify students’ risk-taking attitudes. In Booth and Nolen (2012b), subjects are in years 10 and 11, while in Booth, Cardona-Sosa and Nolen (2014), they are first-year...
Persistent link: https://www.econbiz.de/10013315609
Sloof et al.'s [2006] elegant study of default breach remedies illustrates both the potential and limitations of experimental law and economics (ELE). Potentially, the rigorous methodology of experimental economics can provide fully controlled tests of relationships among legally significant...
Persistent link: https://www.econbiz.de/10014053730