Existing theories on life span changes in confidence or motivation suggest that individuals' preferences to enter competitive situations should gradually decline with age. We examined competitive preferences in a field experiment using real financial stakes in 25- to 75-year-olds (N = 543). The critical dependent variable was whether participants chose to perform a simple mental arithmetic task...

Current crowdsourcing platforms provide little support for worker feedback. Workers are sometimes invited to post free text describing their experience and preferences in completing tasks. They can also use forums such as Turker Nation to exchange preferences on tasks and requesters. In fact, crowdsourcing platforms rely heavily on observing workers and inferring their preferences implicitly. I...

I decision making under risk involves two dimensions: time preferences and risk preferences. This paper focuses on the impact of time on risk preferences, independent of the intertemporal trade-off of outcomes, i.e., time preferences. It reports the results of an experimental study that examines how delayed resolution and payment of risky options influence individual choice. We used a simple ex...

Paying for goods and services creates disutility for the payer. Based on ideas from behavioral economics, we contend that the disutility of paying can be substantially influenced by the method of payment. We develop a model of the consumer that takes into account phenomena such as the pain of paying, the sunk-cost effect, and self-control issues. In a laboratory experiment we test this model an...

Decision-makers tend to prefer the first alternative over subsequent alternatives which is called the primacy effect. To reliably measure this effect, we conducted an experiment with real consequences for preference statements. Therefore, we elicit preferences of subjects using a rating scale, i.e. hypothetical preferences, and willingness to pay, i.e. real preferences, for two sequences of pai...

Abstract This paper deals with the relationship between individual preferences and use of cash. Building on insights from economic psychological literature, we present an agent-based model simulating consumers’ behaviour when choosing which mean payment to use, according value transaction. Assuming heterogeneous for payment, results show that number cash transactions their strongly depend both ...

Abstract We examine how social preferences affect the workings of voluntary green payment schemes and show that a regulator could use facilitation services along with reward to generate better ecological outcome at less cost by exploiting farmer’s gain social-image/reputation. To motivate our model, we first present results an incentivized elicitation survey in Scotland which shows there is nor...

In this paper, we use stated satisfaction to estimate social preferences: subjects report their with payment-profiles that hold own payment constant while varying another subject's payment. This approach yields significant support for the inequity aversion model of Fehr and Schmidt (1999). is among most renowned in behavioral economics, positing a generalized inequality stronger when one's payo...

OBJECTIVE To examine the remuneration model preferences of newly practising family physicians. DESIGN Mixed-methods study comprising a cross-sectional, Web-based survey, as well as qualitative content analysis of answers to open-ended questions. SETTING British Columbia. PARTICIPANTS University of British Columbia family practice residents who graduated between 2000 and 2009. MAIN OUTCO...