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On the interaction of risk and time preferences : an experimental study

Anderhub, Vital; Genîzî, Ûrî; Güth, Werner; … - 1999

Experimental studies of risk and time-preference typically focus on one of the two phenomena. The goal of this paper is to investigate the (possible) correlation between subjects' attitude to risk and their time-preference. For this sake we ask 61 subjects to price a simple lottery in 3...

Persistent link: https://www.econbiz.de/10009581107

Worry and the illusion of safety : evidence from a real-objects experiment

Schade, Christian D.; Kunreuther, Howard - 2002

report on the results of a controlled experiment with real objects at stake. Worry was measured with the Worry Domains …

Persistent link: https://www.econbiz.de/10009621419

Dynamic decision structure and risk taking

Eichberger, Jürgen; Güth, Werner; Müller, Wieland - 1999

This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision problem. There is evidence that risk attitudes depend on...

Persistent link: https://www.econbiz.de/10009582412

Retributive responses

Güth, Werner; Kliemt, Hartmut; Ockenfels, Axel - 2001

Retributive responses do play a role in human behavior. Whether they are primarily triggered by supposed intentions or by observed consequences of actions is an important question. It can be addressed by experimental studies of retributive responses in situations in which the individual actor...

Persistent link: https://www.econbiz.de/10009612563

Fairness versus efficiency : an experimental study of (mutual) gift giving

Güth, Werner; Kliemt, Hartmut; Ockenfels, Axel - 2000

provision games. In our experiment participants can increase efficiency by gift giving at the cost of reducing their own …

Persistent link: https://www.econbiz.de/10009612570

Limited depth of reasoning and failure of cascade formation in the laboratory

Kübler, Dorothea; Weizsäcker, Georg - 2000

player can obtain a signal for free (as in the experiment by Anderson and Holt, 1997, American Economic Review), the case of …

Persistent link: https://www.econbiz.de/10009612571

Combining rational choice and evolutionary dynamics : the indirect evolutionary approach

Königstein, Manfred; Müller, Wieland - 1999

In this study we propose a formal framework for the indirect evolutionary approach as initiated by Güth and Yaari (1992). It allows to endogenize preferences and to study their evolution. We define two-player indirect evolutionary games with observable types and show how to incorporate...

Persistent link: https://www.econbiz.de/10009580475

On the regulation of social norms

Kübler, Dorothea - 2000

A model is developed to understand how norms can be influenced by "norm entrepreneurs", e.g. lawmakers, government agencies, unions etc. Two instruments of influencing the dynamics of normfollowing behavior are analyzed, namely transforming the (monetary) incentives and changing the meaning or...

Persistent link: https://www.econbiz.de/10009583884

From full to bounded rationality : the limits of unlimited rationality

Güth, Werner; Kliemt, Hartmut - 2001

choice making. We illustrate why this role is not being fulfilled well by standard models of full rationality and that … theories of bounded rationality are needed not only for better predictions, but also for developing better advice. Our main … point is that one cannot succeed here without studying how theories of bounded rationality causally influence the behavior …

Persistent link: https://www.econbiz.de/10009612562

Hedging the standard of living via cost of living index futures

Schulz, Rainer - 2000

People dislike inflation because inflation erodes the real value of future nominal income and wealth. Adjustment of future nominal values via a cost of living index is an appropriate way to handle the problem of real income risk. Nonetheless an important aspect needs more discussion: If markets...

Persistent link: https://www.econbiz.de/10009612030