Three effects of apparently superficial changes in presentation (“framing effects” in a broad sense), were replicated together in the same repeated linear public goods experiment with real financial incentives. First, 32 repetitions were presented as four phases of 8 repetitions with a break and results summary in between. Contribution levels decayed during each phase but then persistently returne...... hiện toàn bộ
Daniel Friedman, Kai Pommerenke, Rajan Lukose, Garrett Milam, Bernardo A. Huberman
We seek to isolate in the laboratory factors that encourage and discourage the sunk cost fallacy. Subjects play a computer game in which they decide whether to keep digging for treasure on an island or to sink a cost (which will turn out to be either high or low) to move to another island. The research hypothesis is that subjects will stay longer on islands that were more costly to find. Eleven tr...... hiện toàn bộ