The unprecedented incertitude existing in the health system in Romania implies menaces for the system managers. The improvement of the performance of the medical system has never been more adequate, so that the health system needs specific managerial strategies. Romania needs a complete solution...

In a laboratory experiment, we measure subjects’ willingness to pay for a transparently useless decision right concerning the choice between two real effort tasks. We also elicit for each participant her change in beliefs about the likelihood of receiving her preferred task if she rather than...

The culture of risk is 2000 years old, although the term 'risk' developed much later. The culture of merchants making decisions under uncertainty and taking the individual responsibility for the uncertain future started with the Roman 'Aleatory Society', continued with medieval sea merchants,...

This paper investigates one possible explanation for people’s conflicting attitudes regarding protection of private information. The proliferation of studies about crimes such as identity theft and cyber-stalking, together with the sharp increase in the number of victims, and the easiness with...

Preference for control affects investment behavior. Participants of laboratory experiments invest different amount of money in a risky asset when face with two different methods of control which have identical payoff structure and probability distribution, but provide different sense of control....

This dissertation focuses on managerial decision making, and specifically explores conditions wherein managers may increase their propensity to escalate commitment towards a failing project. Escalation researchers (e.g. Schmidt and Calantone, 2002) have listed four classes of factors that may...

Can luck predict risk-taking behavior in games of chance? Economists have not widely studied this issue although overconfidence, optimism-, and pessimism bias have received substantial attention in recent years. In this study, we investigate how good and bad luck outcomes in a simple repeated...

We conduct a laboratory experiment to study how locus of control operates through people's preferences and beliefs to influence their decisions. Using the principal-agent setting of the delegation game, we test four key channels that conceptually link locus of control to decision- making: (i)...

Evidence of Illusion of Control - the fact that people believe to have control over pure chance events - is a recurrent finding in experimental psychology. Results in economics find instead little to no support. In this paper we test whether this dissonant result across disciplines is due to the...