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作者：Brown, Meta; Flinn, Christopher J.; Schotter, Andrew
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; New York University
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作者：Fehr, Ernst; Hart, Oliver; Zehnder, Christian
作者单位：University of Zurich; Harvard University; University of Lausanne
摘要：Hart and John Moore (2008) introduce new behavioral assumptions that can explain long-term contracts and the employment relation. We examine experimentally their idea that contracts serve as reference points. The evidence confirms the prediction that there is a trade-off between rigidity and flexibility. Flexible contracts-which would dominate rigid contracts under standard assumptions-cause significant shading in ex post performance, while under rigid contracts much less shading occurs. The e...
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作者：Abdellaoui, Mohammed; Baillon, Aurelien; Placido, Laetitia; Wakker, Peter P.
作者单位：Hautes Etudes Commerciales (HEC) Paris; Centre National de la Recherche Scientifique (CNRS); Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：We often deal with uncertain events for which no probabilities are known. Several normative models have been proposed. Descriptive studies have usually been qualitative, or they estimated ambiguity aversion through one single number. This paper introduces the source method, a tractable method for quantitatively analyzing uncertainty empirically. The theoretical key is the distinction between different sources of uncertainty, within which subjective (choice-based) probabilities can still be def...
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作者：Olszewski, Wojciech; Sandroni, Alvaro
作者单位：Northwestern University; Northwestern University; University of Pennsylvania
摘要：We examine Popper's falsifiability within an economic model in which a tester hires a potential expert to produce a theory. Payments are contingent on the performance of the theory vis-a-vis data. We show that if experts are strategic, falsifiability has no power to distinguish scientific theories from worthless theories. The failure of falsification in screening informed and uninformed experts motivates questions on the broader concepts of refutation and verification. We demonstrate an asymme...
