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We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is … the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice … by rational choice. Our results suggest that nonforced‐choice experiments and models can be helpful in separating people …
Persistent link: https://www.econbiz.de/10013382078
A frequent feature of information structures is that they generate signals which are not mutually independent, but rather rely on a common set of underlying information. Using a simple experimental design, we show that in such contexts many people neglect correlations in the updating process,...
Persistent link: https://www.econbiz.de/10010339934
In this paper we develop a theoretical model concerning self-control, motivation and commitment. The model, based on Gul and Pesendorfer (2001), studies a two-period decision problem of an agent who faces a given menu and might experience temptation in the second period. In this case, the agent...
Persistent link: https://www.econbiz.de/10012422193
points. The implications of this model are tested in an experiment in which participants have to make a consumption choice …
Persistent link: https://www.econbiz.de/10010339388
We investigate the overall impact of stock-out on individual consumers' information search behavior through both search-theoretic and experimental approaches. As the probability of stock-out increases, search intensity decreases, while the expected number of searches may increase. Such increases...
Persistent link: https://www.econbiz.de/10012291229
This paper presents a laboratory experiment that directly tests the theoretical predictions of consumption choices …
Persistent link: https://www.econbiz.de/10012030042
experiment. We find that there is a large share of consumers who reveal their private data. Particularly, less privacy …
Persistent link: https://www.econbiz.de/10012150165
experiment involving consequential interface choices. We find strong support for the second perspective, which builds upon the …
Persistent link: https://www.econbiz.de/10014044592
We investigate the overall impact of stock-out on individual consumers' information search behavior through both search-theoretic and experimental approaches. As the probability of stock-out increases, search intensity decreases, while the expected number of searches may increase. Such increases...
Persistent link: https://www.econbiz.de/10014031559
This experimental study investigates the interaction of two influential factors of biased probability judgments. Results provide new insights on the preconditions for an application of either the gambler's fallacy or its exact opponent, the hot hand fallacy. The first factor is cognitive...
Persistent link: https://www.econbiz.de/10013002558