Archivio per 17 gennaio 2015

17
Gen
15

Decision making in uncertain times: what can cognitive and decision sciences say about or learn from economic crises?

See on Scoop.itBounded Rationality and Beyond

Economic crises bring to the fore deep issues for the economic profession and their models. Given that cognitive science shares with economics many theoretical frameworks and research tools designed to understand decision-making behavior, should.  

See on academia.edu

Annunci
17
Gen
15

Emotions-at-risk: An experimental investigation into emotions, option prices and risk perception

See on Scoop.itBounded Rationality and Beyond
Abstract: This paper experimentally investigates how emotions are associated with option prices and risk perception. Using a binary lottery, we find evidence that the emotion ‘surprise’ plays a significant role in the negative correlation between lottery returns and estimates of the price of a put option. Our findings shed new light on various existing theories on emotions and affect. We find gratitude, admiration, and joy to be positively associated with risk perception, although the affect heuristic predicts a negative association. In contrast with the predictions of the appraisal tendency framework (ATF), we document a negative correlation between option price and surprise for lottery winners. Finally, the results show that the option price is not associated with risk perception as commonly used in psychology.
See on econstor.eu

17
Gen
15

Bargaining with a residual claimant: … – Maastricht University

See on Scoop.itBounded Rationality and Beyond
Abstract: We experimentally investigate a bargaining environment in which players negotiate over a xed payment to one player, while the other player receives the residual from a random pie realization after subtracting the xed payment. Contrary to the intuition that risk exposure is detrimental, we show that residual claimants are able to extract a risk premium, which is increasing in risk exposure. In some cases the premium is so high that it is advantageous to bargain over a risky pie rather than a risk-less pie. Contrary to theory, the comparatively less risk averse residual claimants benet the most. Moreover, bargaining frictions increase as risk increases, and we document more frequent disagreements as risk increases. When given the chance to choose a less or more risky distribution over which to bargain, residual claimants tend to choose the more risky distribution only when there is the possibility of an equal-split ex-post. Our results suggest that theoretical bargaining models require some separation between the determinants of bargaining power and fair compensation for risk exposure.
See on pub.maastrichtuniversity.nl

17
Gen
15

Ask Ariely: On Honoring Housework, BE to Business, and Laundering Linens

See on Scoop.itBounded Rationality and Beyond

Here’s my Q&A column from the WSJ this week — and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com. ______________________________________________________ Many women don’t feel recognized for all the work they do at home. When their husbands come home late from the…

See on danariely.com




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