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This paper experimentally investigates whether risk-averse individuals punish less if the outcome of punishment is … uncertain than when it is certain. We compare subjects' behavior in two treatments: Certain Punishment in which the prisoner …'s dilemma game is followed by a punishment stage allowing subjects to decrease the other player's payoff by 2 Euros; and …
Persistent link: https://www.econbiz.de/10012707107
In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for …
Persistent link: https://www.econbiz.de/10012002983
Persistent link: https://www.econbiz.de/10011701748
Starting from Schelling (1960), several game theorists have conjectured that payoff equity might facilitate coordination in normal-form games with multiple equilibria - the more equitable equilibrium might be selected either because fairness makes it focal or because many individuals dislike...
Persistent link: https://www.econbiz.de/10010224794
Overbidding in auctions has been attributed to e.g. risk aversion, loser regret, level-k, and cursedness, relying on varying identifying assumptions. I argue that "type projection" organizes these findings and largely captures observed behavior. Type projection formally models that people tend...
Persistent link: https://www.econbiz.de/10011698267
processes we do not find that those subjects showing ambiguity aversion in an urn experiment based on Halevy (2007 …
Persistent link: https://www.econbiz.de/10010188142
by a draw from an Ellsberg urn. In a within-subject experiment, subjects make decisions in three different bargaining …
Persistent link: https://www.econbiz.de/10014380287
We run an experiment that gives subjects the opportunity to hedge away ambiguity in an Ellsberg-style experiment …
Persistent link: https://www.econbiz.de/10011616236
former is more flexible, but the latter is often preferred for its simplicity. We conduct an experiment where subjects place …
Persistent link: https://www.econbiz.de/10012112248
We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the …
Persistent link: https://www.econbiz.de/10011757224