The consequences of many economic decisions only materialize in the future. To make informed choices in such decision … advance tickets for an outdoor movie theater, a real-world situation that, due to the availability of reliable weather … forecasts, closely resembles a stylized decision problem under risk. We find that customers' decisions are heavily influenced by …

The current study examines individual decision making in the field of personal finance. A laboratory experiment … negligible. When naïve advice is given unsolicited, however, it has nevertheless a strong impact on the decision process by … financial literacy buffer this effect, issuing a warning does not. In case compliance with naïve advice leads to a low decision …

ambiguous lotteries in a financial decision context. The experiment can be viewed in two parts. The first part replicates an …This paper reports the results of an experiment that brings together psychological measures of competence and … used to explain elicited certainty equivalents in the second part of the experiment. Certainty equivalents were elicited …

We introduce a dynamic model of emotional behavior regulation that can generalize to a wide range of decision dilemmas …. Dilemmas are characterized by availability of mutually exclusive goals that a decision maker is dually motivated to pursue. In … observed between so-called “preferences” revealed in repeated decision dilemmas (e.g., by choosing A over B at time 1, then …