Neuroeconomics How Neuroscience, Colin Camerer, George Loewenstein, Drazen Prelec
Who knows what I want to do? Who knows what anyone wants to do? How can you be sure about something like that? Isn’t it all a question of brain chemistry, signals going back and forth, electrical...
Neuroeconomics How Neuroscience, Colin Camerer, George Loewenstein, Drazen Prelec
Who knows what I want to do? Who knows what anyone wants to do? How can you be sure about something like that? Isn’t it all a question of brain chemistry, signals going back and forth, electrical...
Neuroeconomics How Neuroscience, Colin Camerer, George Loewenstein, Drazen Prelec
Who knows what I want to do? Who knows what anyone wants to do? How can you be sure about something like that? Isn’t it all a question of brain chemistry, signals going back and forth, electrical...
Consistency and Heterogeneity of Individual Behavior under Uncertainty ∗ (2007)
Syngjoo Choi, Raymond Fisman, Shachar Kariv, Jim Andreoni, Dan Ariely, Liran Einav, ...
NYU ∗ Some of the results reported here were previously distributed in a paper titled “Substantive
Self Control, Risk Aversion, and the Allais Paradox (2006)
Drew Fudenberg, David K. Levine, Glenn Harrison, John Kagel, Drazen Prelec
We thank Daniel Benjamin and Jesse Shapiro for helpful comments and a very
Neuroeconomics: How Neuroscience Can Inform Economics (2005)
Colin Camerer, George Loewenstein, Drazen Prelec, David Laibson, Read Montague, Charlie Plott, ...
Who knows what I want to do? Who knows what anyone wants to do? How can you be sure about something like that? Isn't it all a question of brain chemistry, signals going back and forth,...
Psychology, Behavioral Economics, and Public Policy
On Amir, Dan Ariely, Alan Cooke, David Dunning, Nicholas Epley, Uri Gneezy, ...
Economics has typically been the social science of choice to inform public policy and policymakers. In the current paper we contemplate the role behavioral science can play in enlightening...
The assumptions underlying the generalized matching law
Allen (1981) derived the power-function generalization of the matching law from a functional equation involving relative response rates on three concurrently available schedules of reinforcement....
The assumptions underlying the generalized matching law
Allen (1981) derived the power-function generalization of the matching law from a functional equation involving relative response rates on three concurrently available schedules of reinforcement....
Neuroeconomics: Why Economics Needs Brains
Colin F. Camerer, George Loewenstein, Drazen Prelec
Neuroeconomics uses knowledge about brain mechanisms to inform economic theory. It opens up the "black box" of the brain, much as organizational economics opened up the theory of the firm....
Neuroeconomics: How Neuroscience Can Inform Economics
Colin Camerer, George Loewenstein, Drazen Prelec
Neuroeconomics uses knowledge about brain mechanisms to inform economic analysis, and roots economics in biology. It opens up the "black box" of the brain, much as organizational economics adds...
A "Pseudo-Endowment" Effect, and Its Implications for Some Recent Nonexpected Utility Models.
This article describes a modification of the Allais paradox that induces preferences inconsistent with two conditions weaker than the independence axiom, namely quasi-convexity (a special case of...
Decreasing Impatience: A Criterion for Non-stationary Time Preference and "Hyperbolic" Discounting
Despite recent interest in hyperbolic discounting, there has been little discussion of exactly what property of time preferences is instantiated by hyperbolic or quasi-hyperbolic functional forms....
The Probability Weighting Function
A probability weighting function w(p) is a prominent feature of several nonexpected utility theories, including prospect theory and rank-dependent models. Empirical estimates indicate that w(p) is...
Tom Sawyer and the construction of value
Dan Ariely, George Loewenstein, Drazen Prelec
This paper challenges the common assumption that economic agents know their tastes. After reviewing previous research showing that valuation of ordinary products and experiences can be manipulated by...
"Coherent Arbitrariness": Stable Demand Curves Without Stable Preferences
Dan Ariely, George Loewenstein, Drazen Prelec
In six experiments we show that initial valuations of familiar products and simple hedonic experiences are strongly influenced by arbitrary "anchors" (sometimes derived from a person's social...
Anomalies in Intertemporal Choice: Evidence and an Interpretation.
Loewenstein, George, Prelec, Drazen
Research on decision-making under uncertainty has been strongly influenced.by the documentation of numerous expected utility anomalies--behaviors that violate the expected utility axioms. The...
The Role of Inference in Context Effects: Inferring What You Want from What Is Available.
Prelec, Drazen, Wernerfelt, Birger, Zettelmeyer, Florian
It has recently been suggested that a number of experimental findings of context effects in choice settings can be explained by the ability of subjects to draw choice-relevant inferences from the...