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What you see is all there is
Enke, Benjamin - 2020
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
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Incentive complexity, bounded rationality and effort provision
Abeler, Johannes; Huffman, David; Raymond, Collin - 2023
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
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Incentive Complexity, Bounded Rationality and Effort Provision
Abeler, Johannes; Huffman, David; Raymond, Collin; … - 2023
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/10014377515
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Competition and Consumer Confusion
Laibson, David; Gabaix, Xavier - Econometric Society - 2004
firms to choose even more excess complexity. Firms with lower intrinsic quality and higher production costs choose the most … excess complexity. Educating consumers to reduce their evaluation noise would generate large welfare gains. But the gains …
Persistent link: https://www.econbiz.de/10005063732
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What You See Is All There Is
Enke, Benjamin - 2020
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/10012207896
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Shrouded Attributes and the Curse of Educatoin
Laibson, David; Gabaix, Xavier - Society for Economic Dynamics - SED - 2004
Some consumers fail to observe shrouded product attributes when they buy a new product. For example, an account holder may not know their bank's fee schedule. Firms will choose high shrouded fees and compete to attract consumers with loss-leader base goods: e.g., banks will offer free gifts for...
Persistent link: https://www.econbiz.de/10005027277
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Effective search in rugged performance landscapes : a review and outlook
Baumann, Oliver; Schmidt, Jens; Stieglitz, Nils - In: Journal of management 45 (2019) 1, pp. 285-318
Persistent link: https://www.econbiz.de/10011999654
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Search on rugged landscapes : an experimental study
Billinger, Stephan; Stieglitz, Nils; Schumacher, Terry R. - In: Organization science : a journal of the Institute for … 25 (2014) 1, pp. 93-108
Persistent link: https://www.econbiz.de/10010251062
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Nominalist Heuristics and Economic Theory
Pope, Robin; Selten, Reinhard; Kube, Sebastian - 2009
This paper introduces a new theoretic entity, a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are incompatible with expected utility theory which excludes...
Persistent link: https://www.econbiz.de/10010270023
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Prominent Numbers, Indices and Ratios in Exchange Rate Determination and Financial Crashes: in Economists’ Models, in the Field and in the Laboratory
Pope, Robin; Selten, Reinhard; Kube, Sebastian; von … - 2009
The prior paper in this sequel, Pope (2009) introduced the concept of a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. In this paper the concept is used to show three things in how scientists and practitioners analyse and evaluate to decide (conclude). First,...
Persistent link: https://www.econbiz.de/10010274186