| Author | : Alina Ferecatu |
| File Size | : 44,8 Mb |
| Publisher | : Unknown |
| Language | : English |
| Release Date | : 19 April 2024 |
| ISBN | : OCLC:1272881941 |
| Pages | : 0 pages |
Three Essays on Biases in Decision Making by Alina Ferecatu Book PDF Summary
This dissertation is organized in three chapters. Each chapter analyzes decision makers' systematic deviations from economic predictions in well-known experiments. People deviate from the optimal path and excessively explore or exploit in n-armed bandit games, demand interest rates well above financial market averages in order to defer consumption in intertemporal choice settings, and do not settle for receiving small amounts of money, even though they would be better off objectively, in bargaining games such as the ultimatum game. Such “irregularities” are documented in the three dissertation essays. The essays are intended as a first step to formulate individual specific, customized decision aids, useful to overcome such decision biases.