70 datasets found

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

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...

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...

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...

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-...

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 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...

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...

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

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...