35 datasets found

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-...

The Anscombe-Aumann (AA) model, originally introduced to give a normative basis to expected utility, is nowadays mostly used for another purpose: to analyze deviations from...

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?...

We ran experiments that gave subjects a straight-forward and simple opportunity to hedge away ambiguity in an Ellsberg-style experiment. Subjects had to make bets on the...

Literature on fairness preferences distinguishes between outcome fairness, concerning the final allocation of payoffs, and process fairness, concerning the expected allocation...

I experimentally investigate the hypothesis that many people avoid lying even in a situation where doing so would result in a Pareto improvement. Replicating (Erat and Gneezy,...

We probe the pattern of ambiguity aversion for moderate-likelihood gain prospects, and ambiguity seeking for low-likelihood gain prospects, if people make decisions not for...

Many decisions under uncertainty are delegated to professionals, such as financial advisors or medical doctors, requiring them to assess the risk attitudes of their clients or...

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 study the role of accountability in situations where an agent makes risky decisions for a principal. We observe that in the absence of accountability, agents choose less risk...

Auctions often involve goods exhibiting a common-knowledge ex-post risk. In such auctions, precautionary bidding predicts that under expected utility, DARA bidders reduce their...