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Prior research suggests that those who rely on intuition rather than effortful reasoning when making decisions are less … causality. In this paper, we present experimental evidence of causation running from reliance on intuition to risk and ambiguity … preferences. We directly manipulate participants' predilection to rely on intuition and find that enhancing reliance on intuition …
Persistent link: https://www.econbiz.de/10010200793
We study the influence of reason and intuition on decision making over time. Facing a sequence of similar problems …, agents can either decide rationally according to expected utility theory or intuitively according to case-based decision … intuition will outperform reason in the long run if individuals are sufficiently ambitious. Moreover, intuitive decisions are …
Persistent link: https://www.econbiz.de/10010464891
We test the effects of dual processing differences in both individual traits and decision states on risk taking. In an … emotion or reason, while simultaneously measuring individual decision-making traits. Our results show that decision …
Persistent link: https://www.econbiz.de/10012118611
This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a …, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would …
Persistent link: https://www.econbiz.de/10013073252
This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a …, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would …
Persistent link: https://www.econbiz.de/10010188142
Intuition can lead to more effective decision-making than analysis under certain conditions. This assumption can be … regarded as common sense. However, dominant research streams on intuition effectiveness in decision-making conceptualize … article suggests the structuredness of the decision problem as the main criterion for intuition effectiveness, and proposes …
Persistent link: https://www.econbiz.de/10012029308
We designed four observational learning experiments to identify the key channels that, along with Bayes-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in turn by subjects endowed with private signals of...
Persistent link: https://www.econbiz.de/10011789104
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Persistent link: https://www.econbiz.de/10009781317
Persistent link: https://www.econbiz.de/10012649778