Showing 1 - 10 of 230
This paper studies the impact of incentives on worker self-selection in a controlled laboratory experiment. Subjects …
Persistent link: https://www.econbiz.de/10009004024
This paper analyzes the trade of an indivisible good within a two-stage mechanism, where a seller first negotiates with one potential buyer about the price of the good. If the negotiation fails to produce a sale, a second–price sealed–bid auction with an additional buyer is...
Persistent link: https://www.econbiz.de/10005785909
The paper critically discusses the issue of rationality and choices in economics in both the behavioural and … the analysis of economic choices, showing the limits of rationality. On the other hand, the work offers a reinterpretation … single and undifferentiated thought, locked into the idea of perfect rationality, but, on the opposite, is a discipline that …
Persistent link: https://www.econbiz.de/10009418485
The paper discusses the concept of an economic man in economics and management. The concept of “homo oeconomicus” assumes the full rational behaviour of a deciding man and was applied in classical and neoclassical theories. Based on resent findings of the neuronal, cognitive and behavioural...
Persistent link: https://www.econbiz.de/10009147885
Experimental choice data from 881 subjects based on 40 time-tradeoff items and 32 risky choice items reveal that most subjects are time-inconsistent and most violate the axioms of expected utility theory. These inconsistencies cannot be explained by well-known theories of behavioral...
Persistent link: https://www.econbiz.de/10008693573
This brief note rises doubts on the argument that nudging will help people to behave more rational in terms of their own preferences. This justification of soft paternalism overlooks some methodological problems of expected utility theory which are one of the roots of behavioral economics.
Persistent link: https://www.econbiz.de/10011109175
image concerns of being perceived as a promise breaker play a role. In a controlled laboratory experiment, we vary the ex …
Persistent link: https://www.econbiz.de/10011106295
behavior disliked by other (honest) team members, who (ii) nevertheless refrain from reporting such misbehavior to the …
Persistent link: https://www.econbiz.de/10005739682
Bayesian rationality is the paradigm of rational behavior in neoclassical economics. A rational agent in an economic …. The paper raises the question of how, when and why this characterization of rationality came to be endorsed by mainstream …
Persistent link: https://www.econbiz.de/10009325574
-periods/two-players dynamic game of market entry-exit. Under the assumption of level-2 rationality (i.e., players are rational and they know that …
Persistent link: https://www.econbiz.de/10005034988