17 found
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  1.  30
    The Self-Fulfilling Property of Trust: An Experimental Study. [REVIEW]Michael Bacharach, Gerardo Guerra & Daniel John Zizzo - 2007 - Theory and Decision 63 (4):349-388.
    A person is said to be ‘trust responsive’ if she fulfils trust because she believes the truster trusts her. The experiment we report was designed to test for trust responsiveness and its robustness across payoff structures, and to discriminate it from other possible factors making for trustworthiness, including perceived kindness, perceived need and inequality aversion. We elicit the truster’s confidence that the trustee will fulfil, and the trustee’s belief about the truster’s confidence after the trustee receives evidence relevant to this. (...)
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  2.  47
    Does Product Complexity Matter for Competition in Experimental Retail Markets?Stefania Sitzia & Daniel John Zizzo - 2011 - Theory and Decision 70 (1):65-82.
    We describe a first experiment on whether product complexity affects competition and consumers in retail markets. We are unable to detect a significant effect of product complexity on prices, except insofar as the demand elasticity for complex products is higher. However, there is qualified evidence that complex products have the potential to induce consumers to buy more than they would otherwise. In this sense, consumer exploitability in quantities cannot be ruled out. We also find evidence for shaping effects: consumers’ preferences (...)
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  3.  43
    Verbal and Behavioral Learning in a Probability Compounding Task.Daniel John Zizzo - 2003 - Theory and Decision 54 (4):287-314.
    The conjunction fallacy occurs whenever probability compounds are thought of as more likely than its component probabilities alone. In the experiment we present, subjects chose between simple and compound lotteries after some practice. Depending on the condition, they were given more or less information about the nature of probability compounds. The conjunction fallacy was surprisingly robust. There was, however, a puzzling dissociation between verbal and behavioral learning: verbal responses were sensitive, but actual choices entirely insensitive, to the amount of verbal (...)
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  4.  89
    Trust, Inequality and the Market.Shaun P. Hargreaves Heap, Jonathan Hw Tan & Daniel John Zizzo - 2013 - Theory and Decision 74 (3):311-333.
    This article examines, experimentally, whether inequality affects the social capital of trust in non-market and market settings. We consider three experimental treatments, one with equality, one with inequality but no knowledge of the income of other agents, and one with inequality and knowledge. Inequality, particularly when it is known, has a corrosive effect on trusting behaviours in this experiment. Agents appear to be less sensitive to known relative income differentials in markets than they are in the non-market settings, but trust (...)
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  5.  25
    Trust, Inequality and the Market.Shaun P. Hargreaves Heap, Jonathan H. W. Tan & Daniel John Zizzo - 2013 - Theory and Decision 74 (3):311-333.
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  6.  33
    A Test of the Experimental Method in the Spirit of Popper.Shaun Hargreaves Heap, Arjan Verschoor & Daniel John Zizzo - 2012 - Journal of Economic Methodology 19 (1):63-76.
    Do the insights into human behavior generated by laboratory experiments hold outside the lab? This is a crucial question that naturally troubles both experimentalists and their critics. We address this question by adopting Popper's injunction that hypotheses should be tested, not by seeking instances of confirmation, but through exposure to conditions where falsification is a serious possibility. We test the hypothesis ?that experimental insights hold outside the lab? by selecting a population where the non-experimental evidence points to behavior that is (...)
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  7.  16
    Inattentive Consumers in Markets for Services.Stefania Sitzia, Jiwei Zheng & Daniel John Zizzo - 2015 - Theory and Decision 79 (2):307-332.
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  8.  5
    A Triple Test for Behavioral Economics Models and Public Health Policy.Ryota Nakamura, Marc Suhrcke & Daniel John Zizzo - 2017 - Theory and Decision 83 (4):513-533.
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  9.  22
    Conflicting Evidence and Decisions by Agency Professionals: An Experimental Test in the Context of Merger Regulation. [REVIEW]Bruce Lyons, Gordon Douglas Menzies & Daniel John Zizzo - 2012 - Theory and Decision 73 (3):465-499.
    Many important regulatory decisions are taken by professionals employing limited and conflicting evidence. We conduct an experiment in a merger regulation setting, identifying the role of different standards of proof, volumes of evidence, cost of error and professional or lay decision making. The experiment was conducted on current practitioners from 11 different jurisdictions, in addition to student subjects. Legal standards of proof significantly affect decisions. There are specific differences because of professional judgment, including in how error costs and volume of (...)
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  10.  19
    A Simple Stress Test of Experimenter Demand Effects.Piers Fleming & Daniel John Zizzo - 2015 - Theory and Decision 78 (2):219-231.
  11.  38
    Serotonin, Dopamine, and Cooperation.Daniel John Zizzo - 2005 - Behavioral and Brain Sciences 28 (3):370-370.
    Whether or not trait affiliation correlates with human behaviour needs investigating. One should be careful generalizing neuropsychological mechanisms for affiliation, and generalizing an analysis based on one or two neuropsychological mechanisms and mostly studies on rodents, to complex human social interactions. Serotonin is an example of a neurotransmitter playing an important role in cooperation and interacting with the dopaminergic system.
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  12.  23
    Introspection and Intuition in the Decision Sciences.Daniel John Zizzo - 2004 - Behavioral and Brain Sciences 27 (2):274-275.
    Self-experimentation is uncommon in the decision sciences, but mental experiments are common; for example, intuition and introspection are often used by theoretical economists as justifications for their models. While introspection can be useful for the generation of ideas, it can also be overused and become a comfortable illusion for the theorist and an obstacle for science.
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  13.  8
    Individual Psychology, Market Scaffolding, and Behavioral Tests.Daniel John Zizzo - 2001 - Behavioral and Brain Sciences 24 (3):432-433.
    Hertwig and Ortmann (H&O) rightly criticize the usage of deception. However, stationary replication may often have no ecological validity. Many economic experiments are not interactive; when they are, there is not much specifically validating H&O's psychological views on script enactment. Incentives in specific market structures may scaffold even zero rational decision-making, but this says very little about individual psychology.
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  14.  17
    Implicit Learning of (Boundedly) Rational Behaviour.Daniel John Zizzo - 2000 - Behavioral and Brain Sciences 23 (5):700-701.
    Stanovich & West's target article undervalues the power of implicit learning (particularly reinforcement learning). Implicit learning may allow the learning of more rational responses–and sometimes even generalisation of knowledge–in contexts where explicit, abstract knowledge proves only of limited value, such as for economic decision-making. Four other comments are made.
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  15.  11
    Anger and Economic Rationality.Daniel John Zizzo - 2008 - Journal of Economic Methodology 15 (2):147-167.
    This paper evaluates the rationality of anger in the light of a standard notion of economic rationality. Whether anger is rational or otherwise cannot be answered in general, but will depend on the economic setting. As long as anger can be explained as a preference in a parsimonious and stable utility function, it does not make sense to talk of anger as rational or irrational. The production of anger is subtly mediated by many cognitive factors. These (and the anger?induced cognitive (...)
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  16.  11
    From Reinforcement of Acts to Reinforcement of Social Preferences.Daniel John Zizzo - 2002 - Behavioral and Brain Sciences 25 (2):282-283.
    Rachlin rightly highlights behavioural reinforcement, conditional cooperation, and framing. However, genes may explain part of the variance in altruistic behaviour. Framing cannot be used to support his theory of altruism. Reinforcement of acts is not identical to reinforcement of patterns of acts. Further, many patterns of acts could be reinforced, and Rachlin's altruism is not the most likely candidate.
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  17.  11
    The Indeterminacy of the Beliefs, Preferences, and Constraints Framework.Daniel John Zizzo - 2007 - Behavioral and Brain Sciences 30 (1):44-45.
    The beliefs, preferences, and constraints framework provides a language that economists, and possibly others, may largely share. However, it has got so many levels of indeterminacy that it is otherwise almost meaningless: when no evidence can ever be a problem for scientific construct Z, then there is a problem for Z, for nothing can also be considered supportive of Z. (Published Online April 27 2007).
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