In an aging society, it becomes more and more important to understand how aging affects decision making. Older adults have to face many situations that require consequential financial decisions. In the present study, we examined the effects of aging on decisions in two domains of uncertainty:...

In an aging society, it becomes more and more important to understand how aging affects decision making. Older adults have to face many situations that require consequential financial decisions. In the present study, we examined the effects of aging on decisions in two domains of uncertainty:...

In an aging society, it becomes more and more important to understand how aging affects decision making. Older adults have to face many situations that require consequential financial decisions. In the present study, we examined the effects of aging on decisions in two domains of uncertainty:...

This paper experimentally investigates whether risk-averseindividuals punish less if the outcome of punishment is uncertain thanwhen it is certain. Our design includes three treatments: Baseline inwhich the one-shot prisoner’s dilemma game is played; CertainPunishment in which the prisoner’s...

Bubbles in asset markets have been documented in numerous experimentalstudies. However, all experiments in which bubbles occurpay dividends after each trading day. In this paper we study whetherbubbles can occur in markets without dividends. We investigate therole of two features that are...

The concept of a non-extreme-outcome-additive capacity (neo-additive capacity ) is introduced.Neo-additive capacitiesmodel optimistic and pessimistic attitudes towards uncertaintyas observed in many experimental studies. Moreover, neo-additive capacities canbe applied easily in economic...

Two rationality arguments are used to justify the link between condi-tional and unconditional preferences in decision theory: dynamic consistencyand consequentialism. Dynamic consistency requires that ex ante contingentchoices are respected by updated preferences. Consequentialism states...

In this paper we experimentally test whether competing for a desired reward does not only affect individuals' performance, but also their tendency to cheat. Recent doping scandals in sports as well as forgery and plagiarism scandals in academia have been partially explained by competitive...

We examine gender differences in trust in another party's cooperation (CC) or its ability (AC). While men and women do not differ concerning trust in cooperation, gender has a strong influence when trust in another subject's ability is required.

In this paper we experimentally test whether competing for a desired reward does not only affect individuals' performance, but also their tendency to cheat. Recent doping scandals in sports as well as forgery and plagiarism scandals in academia have been partially explained by "competitive...