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We examine decision-making under risk in a laboratory experiment. The heart of our design examines how one's propensity …
Persistent link: https://www.econbiz.de/10014075735
Trust is an essential component of good social outcomes and effective economic performance. This is particularly true in environments such as the Prisoner's Dilemma or standard public-goods games, where the equilibrium in a one-shot case involves strictly uncooperative behavior. Evolutionary...
Persistent link: https://www.econbiz.de/10013146695
We consider the external validity of laboratory measures of risk attitude. Based on a large-scale experiment using a … representative panel of the Dutch population, we test if these measures can explain two different types of behavior: (i) behavior in … laboratory risky financial decisions, and (ii) behavior in naturally-occurring field behavior under risk (financial, health and …
Persistent link: https://www.econbiz.de/10012868010
We consider the external validity of laboratory measures of risk attitude. Based on a large-scale experiment using a … representative panel of the Dutch population, we test if these measures can explain two different types of behavior: (i) behavior in … laboratory risky financial decisions, and (ii) behavior in naturally-occurring field behavior under risk (financial, health and …
Persistent link: https://www.econbiz.de/10012868969
This paper presents the first laboratory study of risk-sharing without commitment. Our experiment captures the main … for the shape of the constrained optimal risk-sharing arrangement. In our experiment, participants are matched in pairs … infinite horizon and suffer random income shocks. Risk-averse individuals have incentives to smooth consumption by making …
Persistent link: https://www.econbiz.de/10014073184
investment game allows us to test the robustness of the findings. We find a very consistent result that women invest less, and … economic issues. We assemble the data from 15 sets of experiments with one simple underlying investment game. Most of these … thus appear to be more financially risk averse than men. …
Persistent link: https://www.econbiz.de/10010573061
Costless and non-binding pre-play communication (cheap talk) has been found to often be effective in achieving efficient outcomes in experimental games. However, in previous two-player experimental games each player was informed about both his payoff and the action of the other player in the...
Persistent link: https://www.econbiz.de/10014122582
This article examines whether social comparisons have behavioral effects on workers' performance when a firm can choose workers' wages or let them choose their own. Firms can delegate the wage decision to neither, one or both workers in the firm. We vary the information workers receive, finding...
Persistent link: https://www.econbiz.de/10010226059
Persistent link: https://www.econbiz.de/10002110685
This article examines whether social comparisons have behavioral effects on workers' performance when a firm can choose workers' wages or let them choose their own. Firms can delegate the wage decision to neither, one or both workers in the firm. We vary the information workers receive, finding...
Persistent link: https://www.econbiz.de/10013071433