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Träfflista för sökning "WFRF:(Kirchler Michael 1977 ) "

Sökning: WFRF:(Kirchler Michael 1977 )

  • Resultat 1-10 av 32
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1.
  • Tinghög, Gustav, 1979-, et al. (författare)
  • Intuition and Moral Decision-Making The Effect of Time Pressure and Cognitive Load on Moral Judgment and Altruistic Behavior
  • 2016
  • Ingår i: PLoS ONE. - San Fransisco : library of science. - 1932-6203. ; 11:10
  • Tidskriftsartikel (refereegranskat)abstract
    • Do individuals intuitively favor certain moral actions over others? This study explores the role of intuitive thinking—induced by time pressure and cognitive load—in moral judgment and behavior. We conduct experiments in three different countries (Sweden, Austria, and the United States) involving over 1,400 subjects. All subjects responded to four trolley type dilemmas and four dictator games involving different charitable causes. Decisions were made under time pressure/time delay or while experiencing cognitive load or control. Overall we find converging evidence that intuitive states do not influence moral decisions. Neither time-pressure nor cognitive load had any effect on moral judgments or altruistic behavior. Thus we find no supporting evidence for the claim that intuitive moral judgments and dictator game giving differ from more reflectively taken decisions. Across all samples and decision tasks men were more likely to make utilitarian moral judgments and act selfishly compared to women, providing further evidence that there are robust gender differences in moral decision-making. However, there were no significant interactions between gender and the treatment manipulations of intuitive versus reflective decision-making.
2.
  • Camerer, C. F., et al. (författare)
  • Evaluating replicability of laboratory experiments in economics
  • 2016
  • Ingår i: Science. - 0036-8075. ; 351:6280, s. 1433-1436
  • Tidskriftsartikel (refereegranskat)abstract
    • The replicability of some scientific findings has recently been called into question. To contribute data about replicability in economics, we replicated 18 studies published in the American Economic Review and the Quarterly Journal of Economics between 2011 and 2014. All of these replications followed predefined analysis plans that weremade publicly available beforehand, and they all have a statistical power of at least 90% to detect the original effect size at the 5% significance level. We found a significant effect in the same direction as in the original study for 11 replications (61%); on average, the replicated effect size is 66% of the original. The replicability rate varies between 67% and 78% for four additional replicability indicators, including a prediction market measure of peer beliefs.
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3.
  • Camerer, C. F., et al. (författare)
  • Evaluating the replicability of social science experiments in Nature and Science between 2010 and 2015
  • 2018
  • Ingår i: Nature Human Behaviour. - 2397-3374. ; 2:9, s. 637-644
  • Tidskriftsartikel (refereegranskat)abstract
    • Being able to replicate scientific findings is crucial for scientific progress1-15. We replicate 21 systematically selected experimental studies in the social sciences published in Nature and Science between 2010 and 201516-36. The replications follow analysis plans reviewed by the original authors and pre-registered prior to the replications. The replications are high powered, with sample sizes on average about five times higher than in the original studies. We find a significant effect in the same direction as the original study for 13 (62%) studies, and the effect size of the replications is on average about 50% of the original effect size. Replicability varies between 12 (57%) and 14 (67%) studies for complementary replicability indicators. Consistent with these results, the estimated truepositive rate is 67% in a Bayesian analysis. The relative effect size of true positives is estimated to be 71%, suggesting that both false positives and inflated effect sizes of true positives contribute to imperfect reproducibility. Furthermore, we find that peer beliefs of replicability are strongly related to replicability, suggesting that the research community could predict which results would replicate and that failures to replicate were not the result of chance alone.
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4.
  • Dijk, Oege, et al. (författare)
  • Rank matters-The impact of social competition on portfolio choice
  • 2014
  • Ingår i: European Economic Review. - 0014-2921 .- 1873-572X. ; 66, s. 97-110
  • Tidskriftsartikel (refereegranskat)abstract
    • Tournament incentives' schemes have been criticized for inducing excessive risk-taking among financial market participants. In this paper we investigate how relative performance-based incentive schemes and status concerns for higher rank influence portfolio choice in laboratory experiments. We find that both underperformers and over-performers adapt their portfolios to their current relative performance, preferring either positively or negatively skewed assets, respectively. Most importantly, these results hold both when relative performance is instrumental for higher payoffs in a tournament and when it is only intrinsically motivating and not payout-relevant. We find no effects when no relative performance information is given. © 2013 Elsevier B.V.
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6.
  • Hanke, M., et al. (författare)
  • Football championships and jersey sponsors' stock prices: an empirical investigation
  • 2013
  • Ingår i: European Journal of Finance. - 1351-847X .- 1466-4364. ; 19:3, s. 228-241
  • Tidskriftsartikel (refereegranskat)abstract
    • Corporate sports sponsorship is an important part of many companies' corporate communication strategy. In this paper, we take the example of major football tournaments to show that sponsorship indeed affects the sponsor's (stock) market value. We find a statistically significant impact of football results (at an individual match level) of the seven most important football nations at European and World Championships on the stock prices of jersey sponsors. In general, the more important a match and the less expected its result, the higher its impact. In addition, we find a form of mere-exposure' effect which is difficult to reconcile with the efficient markets hypothesis.
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8.
  • Holmén, Martin, 1966-, et al. (författare)
  • Do Option-like Incentives Induce Overvaluation? Evidence from Experimental Asset Markets
  • 2012
  • Rapport (övrigt vetenskapligt)abstract
    • One potential reason for bubbles evolving prior to the financial crisis was excessive risk taking stemming from option-like incentive schemes in financial institutions. By running laboratory asset markets, we investigate the impact of option-like incentives on price formation and trading behavior. We observe (i) that option-like incentives induce significantly higher market prices than linear incentives. We further find that (ii) option-like incentives provoke subjects to behave differently and to take more risk than subjects with linear incentives. We finally show that (iii) trading at inflated prices is rational for subjects with option-like incentives since it increases their expected payout.
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9.
  • Holmén, Martin, 1966-, et al. (författare)
  • Do option-like incentives induce overvaluation? Evidence from experimental asset markets
  • 2014
  • Ingår i: Journal of Economic Dynamics and Control. - 0165-1889. ; 40, s. 179-194
  • Tidskriftsartikel (refereegranskat)abstract
    • One potential reason for bubbles evolving prior to the financial crisis was excessive risk taking stemming from option-like incentive schemes in financial institutions. By running laboratory asset markets, we investigate the impact of option-like incentives on price formation and trading behavior. The main results are that (i) we observe significantly higher market prices with option-like incentives than linear incentives. (ii) We further find that option-like incentives provoke subjects to behave differently and to take more risk than subjects with linear incentives. (iii) We finally show that trading at inflated prices is rational for subjects with option-like incentives since it increases their expected payout. © 2014 Elsevier B.V.
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10.
  • Huber, Jürgen, et al. (författare)
  • Experimental asset markets with endogenous choice of costly asymmetric information
  • 2011
  • Ingår i: Experimental Economics. - 1386-4157. ; 14:2, s. 223-240
  • Tidskriftsartikel (refereegranskat)abstract
    • Asymmetric distribution of information, while omnipresent in real markets, is rarely considered in experimental financial markets. We present results from experiments where subjects endogenously choose between five information levels (four of them costly). We find that (i) uninformed traders earn the highest net returns, while average informed traders always perform worst even when information costs are not considered; (ii) over time traders learn to pick the most advantageous information levels (full information or no information); and (iii) market efficiency decreases with higher information costs. These results are mostly in line with the theoretical predictions of Grossman and Stiglitz (Am. Econ. Rev. 70:393–408, 1980) and provide additional insights that studies with only two information levels cannot deliver.
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