AUTHORS: Andre Hofmeyr, Harold Kincaid and Brian Monroe
ABSTRACT: The trust game is the standard experimental measure of trust and reciprocity in the social sciences. However, trust game experiments typically do not satisfy the salience precept, which is required to instantiate a microeconomic system in the lab. In three experiments,… more »
AUTHOR: Brian Albert Monroe
ABSTRACT: Stochastic models are commonly used to estimate the risk preferences of experimental subjects when the subjects’ choices show apparent violations of Expected Utility Theory. While the descriptive properties of these models have been the subject of much investigation, the normative consequences of these models have… more »
ABSTRACT: Much of the game theory literature concerns mechanisms by which players can infer information about the utilities, beliefs, and strategies of other players based on actions within games and pre-play signals. When game theory is applied to strategic interactions among people, such analysis interprets them as trying to “mindread”.… more »
Forthcoming in G.W. Harrison and D. Ross (eds.), Models of Risk Preferences: Descriptive and Normative Challenges, (Bingley, UK: Emerald, Research in Experimental Economics, 2023).
ABSTRACT: Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account… more »
AUTHORS: Glenn W. Harrison, Nadja Kairies-Schwarz, and Johann Han
ABSTRACT: We investigate the effects of nonlinear deductible contracts on health utilization behavior by using a laboratory experiment in which we can control the likelihood of hitting the deductible. We also evaluate the effect of subjects receiving regular information updates on… more »
AUTHORS: Rachel Cassidy, Anaya Dam, Wendy Janssens, Umair Kiani, and Karlijn Morsink
ABSTRACT: Interventions that aim to change outcomes for women and children typically target women. Yet in contexts where men are the dominant decision-makers, male references and beliefs may remain the binding constraint. We ask – when we target… more »
AUTHORS: Glenn W. Harrison, Brian Monroe, and Eric R. Ulm
ABSTRACT: An individual reports subjective beliefs over continuous events using a proper scoring rule, such as the Quadratic Scoring Rule. Under mild additional assumption, it is known that these reports reflect latent subjective beliefs if the individual is risk neutral.… more »
AUTHORS: Glenn Harrison, Jimmy Martínez-Correa, Karlijn Morsink, Jia Min Ng, and Todd Swarthout
ABSTRACT: For consumers to make efficient financial decisions, the mapping of beliefs about probabilities of states of the world with potential outcomes is an important cognitive process. Many financial decisions, as a part of this mapping, require… more »
Forthcoming, Handbook of Choice Modeling
AUTHORS: Glenn W. Harrison
ABSTRACT: There is evidence that behavior changes when individuals make choices over hypothetical scenarios and stakes rather than real scenarios and stakes. What is the nature of this evidence, and how significant is it for different types of inferences? In particular,… more »
AUTHOR: Morten I. Lau & Hong Il Yoo
ABSTRACT: We design an experiment to elicit prudence and temperance, two higher order risk attitudes which imply skewness seeking and kurtosis aversion, respectively. We structurally estimate a non-parametric or discrete utility function which enables one to distinguish prudence and temperance from the… more »
