An experimental analysis of intertemporal allocation behavior

Anderhub, Vital; Güth, Werner; Müller, Wieland; Strobel, Martin

doi:10.1007/bf01669305

Cited by 18 publications

(13 citation statements)

References 11 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The reason is simply that significant differences in consumption choices go hand in hand with significant differences in intertemporal payoffs for the multiplicative, but not for the additive, function (see Anderhub, Güth, Müller, & Strobel, 2000). Thus, by means of (1), we try to induce that large deviations from, for example, optimality in action space will imply large effects in payoff space.…”

Section: The Modelmentioning

confidence: 96%

An experimental analysis of satisficing in saving decisions

Güth¹,

Levati²,

Ploner

2009

Journal of Mathematical Psychology

Self Cite

View full text Add to dashboard Cite

Section: The Modelmentioning

confidence: 96%

An experimental analysis of satisficing in saving decisions

Güth¹,

Levati²,

Ploner

2009

Journal of Mathematical Psychology

Self Cite

View full text Add to dashboard Cite

“…for instance, showed that binary lotteries do not reduce anomalies Anderhub et al (2000). did not find a difference between applying and not applying the binary lottery technique in a "saving game".…”

mentioning

confidence: 96%

Excess entry in an experimental winner-take-all market

Fischbacher¹,

Thöni

2008

Journal of Economic Behavior & Organization

View full text Add to dashboard Cite

Winner-take-all" markets (i.e., markets in which the relative and not the absolute performance is decisive) have gained in importance. Such markets have a tendency to provoke inefficiently many entries. We investigate such markets in an experiment and show that there are even more inefficient entries than predicted by the Nash equilibrium. Moreover, this effect increases with group size. Quantal response equilibrium predicts the increase in group size but fails to predict the excess entry in the smaller group. We show that the excess entry is not caused by coordination failures. Furthermore, individual entry behavior is not significantly linked to risk preferences.

show abstract

“…The reason is simply that significant differences in saving decisions go hand in hand with significant differences in intertemporal payoffs for the multiplicative, but not for the additive, payoff specification (see Anderhub et al, 2000). Thus, by our intertemporal payoff specification, we try to induce that large deviations from, e.g., optimality in action space will imply large effects in payoff space.…”

Section: The Modelmentioning

confidence: 99%

Scenario-Based Satisficing in Saving: A Theoretical and Experimental Analysis

2007

View full text Add to dashboard Cite

Contrary to the models of deterministic life cycle saving, we take it for granted that uncertainty of one's future is the essential problem of saving decisions. However, unlike the stochastic life cycle models, we capture this crucial uncertainty by a non-Bayesian scenario-based satisficing approach. Decision makers first form aspirations for a few relevant scenarios, and then search for saving plans satisficing these aspirations. In addition to formally specifying scenario-based satisficing in saving, we explore it experimentally. The results confirm that optimal intertemporal allocations are difficult to derive, and suggest that satisficing allocations can be reached easily when aspirations are incentivized.

show abstract

An experimental analysis of intertemporal allocation behavior

Cited by 18 publications

References 11 publications

An experimental analysis of satisficing in saving decisions

An experimental analysis of satisficing in saving decisions

Excess entry in an experimental winner-take-all market

Scenario-Based Satisficing in Saving: A Theoretical and Experimental Analysis

Contact Info

Product

Resources

About