69 datasets found

Time pressure is a central aspect of economic decision making nowadays. It is therefore natural to ask how time pressure affects decisions, and how to detect individual...

We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are...

Assuming universal ambiguity aversion, an extensive theoretical literature studies how ambiguity can account for market anomalies from the perspective of expected utility-based...

Can performance bonuses increase the likelihood that managers coerce their subordinates into exerting high levels of effort when doing so promotes neither efficiency nor equity?...

In oligopoly, imitating the most successful competitor yields very competitive outcomes. This theoretical prediction has been confirmed experimentally by a number of studies. A...

Experimental and field evidence indicate a positive link between social preferences and age, most strikingly between the elderly and young adults. However, it is possible that...

We implement an experiment to elicit subjects’ ambiguity attitudes in the spirit of Ellsberg's three-color urn. The procedure includes three design elements that (together) have...

We study reciprocity in the labor market context. To this end, we conducted a bilateral gift exchange experiment comparing behavior of subjects from five high-income OECD...

This study extends a bilateral gift-exchange experiment by Clark et al. (2010). We investigate how the provision of either quantitative or qualitative information on the average...

We use a large-scale internet experiment to explore how subjects learn to play against computers that are programmed to follow one of a number of standard learning algorithms....

As illustrated by the famous Ellsberg paradox, many subjects prefer to bet on events with known rather than with unknown probabilities, i.e., they are ambiguity averse. In an...

A well-known result by Vega-Redondo (1997) [18] implies that in symmetric Cournot oligopolies, imitation leads to the Walrasian outcome. We show that this result is not robust...

We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different...

The power to coerce workers is important for the efficient operation of hierarchically structured organizations. However, this power can also be used by managers to exploit...

Imitation has been shown to be an important heuristic, in particular in relatively complex environments. In this experiment we test whether subjects are more likely to use...

We develop a dynamic resource extraction game that mimics the global multi-generation planning problem for climate change and fossil fuel extraction. We implement the game under...

Depending on the context at hand, people’s preference for receiving feedback might differ. Especially in allocation decisions that directly concern another individual, feedback...

Inequality is often associated with negative societal consequences, but identifying a causal relationship is a daunting task. We provide evidence on the impact of unjust...

This paper studies temporal-distance effects on individual and social risks, testing Construal Level Theory. We elicit WTPs for risky and ambiguous lotteries and vary the timing...

We study whether people’s ambiguity attitudes differ when deciding for themselves or for others in the loss domain. We find no differences in ambiguity attitudes between self-...