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computational complexity of the decision problem. These results point to the context-dependence of what comes to mind and the …
Persistent link: https://www.econbiz.de/10012171711
Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded … rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to … cause large shifts in behavior. Our results illustrate important implications of complexity for designing and regulating …
Persistent link: https://www.econbiz.de/10014309731
controlling for financial literacy and subjective knowledge. Moreover, a large majority state the complexity of the pension system … have sufficient knowledge. That the complexity of the pension system and individuals' proclivity to procrastinate are …
Persistent link: https://www.econbiz.de/10012384259
There are many important decision problems where learning through experimentation is costly or impossible. In these situations, individuals may try to learn from observing the outcomes of others who have made similar decisions. Often, however, information about others comprises a selected...
Persistent link: https://www.econbiz.de/10011982107
The standard framework for analyzing games with incomplete information models players as if they have an infinite depth of reasoning, which is not always consistent with experimental evidence. This paper generalizes the type spaces of Harsanyi (1967-1968) so that players can have a finite depth...
Persistent link: https://www.econbiz.de/10009782099
In an important paper, Weinstein and Yildiz (2007) show that if players have an infinite depth of reasoning and this is commonly believed, types generically have a unique rationalizable action in games that satisfy a richness condition. We show that this result does not extend to environments...
Persistent link: https://www.econbiz.de/10010221860
A decision-maker acquires payoff-relevant information until she reaches her storing capacity, at which point she either terminates the decision-making and chooses an action, or discards some information. By conditioning the probability of termination on the information collected, she controls...
Persistent link: https://www.econbiz.de/10012915465
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