727 research outputs found
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Tempus Fugit: Time Pressure in Risky Decisions [Dataset]
No full textWe study the effects of time pressure on risky decisions for pure gain prospects, pure loss prospects, and mixed prospects involving both gains and losses. In two experiments we find that time pressure has no effect on risk attitudes for gains, but increases risk aversion for losses. For mixed prospects, subjects become simultaneously more loss averse and more gain seeking under time pressure, depending on the framing of the prospects. The results suggest the importance of aspiration levels, and thus the overall probability to break even, under time pressure. We discuss the implications of our findings for decision-making situations that involve time pressure
Higher Order Risk Attitudes, Demographics, and Financial Decisions [Dataset]
No full textWe study the prevalence of the higher order risk attitudes of prudence and temperance in an experiment with a large demographically representative sample of participants. Under expected utility, prudence and temperance are defined by a convex first, and concave second, derivative of the utility function, a
nd have direct implications for saving behavior and portfolio choice. In the experiment, participants make pairwise choices that distinguish prudent from imprudent, and temperate from intemperate, behavior. We correlate individuals' risk aversion, prudence, and temperance levels to their demographic profiles and their financial decisions outside the experiment. We observe that the majority of individuals' decisions are consistent with risk aversion, prudence, and temperance. Prudence is positively correlated with saving, as predicted by precautionary saving theory. Temperance is negatively correlated with the riskiness of portfolio choices
Sick Pay Provision in Experimental Labor Markets [Dataset]
No full textSick pay is a common provision in most labor contracts. This paper employs an experimental gift exchange environment to explore two related questions using both managers and undergraduates as subjects. First, do workers reciprocate generous sick pay with higher effort? Second, do firms benefit from offering sick pay? Our main finding is that workers do reciprocate generous sick pay with higher effort. However, firms benefit from offering sick pay in terms of profits only if there is competition among firms for workers. Consequently, competition leads to a higher voluntary provision of sick pay relative to a monopsonistic labor market
Out-of-pocket Expenditure on Chronic Non-communicable Diseases in Rural Malawi [Dataset]
No full textData was collected in household survey conducted in the 2 rural districts of Thyolo and Chiradzulu in southern Malawi. The main purpose of the study was to determine the factors that influence health seeking behaviour of people with chronic non-communicable diseases (NCDs) as well as the costs related to NCDs. The main areas covered in the survey were household socio economic status, demographic information of all houshold members, presence of NCDs and health seeking behaviour during the last 4 weeks. Major variables include: age, sex, household expenditure, self reported NCD, nature of NCD, symptoms of NCD, treatment at formal care facility and related costs. GPS coordinates were collected to calculate straight line distance from households to the nearest public health facility
On the role of social wage comparisons in gift-exchange experiments [Dataset]
No full textThis study extends a bilateral gift-exchange experiment by Clark et al. (2010). We investigate how the provision of either quantitative or qualitative information on the average wage paid in all worker–employer relationships impacts the wage set by employers and worker performance. We find that information on the average wage reduces (increases) both wage offers and effort levels in one-shot (repeated) relationships
Stability of the Cournot Process - Experimental Evidence [Dataset]
No full textWe report results of experiments designed to test the predictions of the best-reply process. In a Cournot oligopoly with four firms, the best-reply process should theoretically explode if demand and cost functions are linear. We find, however, no experimental evidence of such instability. Moreover, we find no differences between a market which theoretically should not converge to Nash equilibrium and one which should converge because of inertia. We investigate the power of several learning dynamics to explain this unpredicted stability
Willingness to Pay for Voluntary Climate Action and Its Determinants: Field-Experimental Evidence [Dataset]
No full textThe determinants of individual, voluntary climate action (VCA) in combating climate change and its potential scale are frequently debated in public but largely underresearched. We provide estimates of the willingness to individually reduce EU greenhouse gas emissions by one ton, using the European Union Emissions Trading Scheme. Estimates are derived from an online field experiment with a large, highly heterogenous, and Internet-representative sample of voting-aged Germans. Jointly estimating willingness to pay (WTP), non-indifference to VCA, and prior knowledge, we uncover important determinants of preferences for VCA, such as education, the information structure among the population, and exogenous environmental conditions
Does Information about Competitors' Actions Increase or Decrease Competition in Experimental Oligopoly Markets? [Dataset]
No full textThis paper investigates the impact the publication of firm-specific data has on the competitiveness of experimental oligopoly markets. We compare two treatments: in one, firms are informed about their rivals’ actions and profits. In the other, firms are only given aggregate information about their rivals’ actions (average quantities or prices). We find that more information leads to more competition. In the treatment where aggregate information is given, we confirm the theoretical result that Bertrand markets are more competitive than Cournot markets
PatTR: Patent Translation Resource
No full textPatTR is a sentence-parallel corpus extracted from the MAREC patent collection. The current version contains more than 22 million German-English and 18 million French-English parallel sentences collected from all patent text sections as well as 5 million German-French sentence pairs from patent titles, abstracts and claims. The corpus is sorted by language pairs and by text sections of a patent document, namely title, abstrac
t, claims and description. Parallel data from title, abstract and claims sections were extracted from documents belonging to the European Patent Office (
EPO) and the World Intellectual Property Organization (WIPO) corpora in MAREC. Both resources feature multilingual documents that contain for example both an English and a German abstract. Since there are no multilingual descriptions, data from this section were collected by exploiting patent families to align German and French documents from the EPO corpus to English documents from the United S
tates Patent and Trademark Office (USPTO) corpus, following Utiyama, Masao and Isahara, Hitoshi: A Japanese-English patent parallel corpus. MT summit XI (2007), 475--482. All sections were sentence-aligned using the Gargantua aligner. Preprocessing was done automatically. Sentence boundaries were detected using the Europarl processing tools. <br
/> For a detailed description of the corpus construction process, please see the publications above
WikiCLIR: A Cross-Lingual Retrieval Dataset from Wikipedia
No full textWikiCLIR is a large-scale (German-English) retrieval data set for Cross-Language Information Retrieval (CLIR). It contains a total of 245,294 German single-sentence queries with 3,200,393 automatically extracted relevance judgments for 1,226,741 English Wikipedia articles as documents. Queries are well-formed natural language sentences that allow large-scale training of (translation-based) ranking models.
The corpus contains training, development and testing subsets randomly split on the query level. Relevance judgments for Cross-Language Information Retrieval (CLIR) are constructed from the inter-language links between German and English Wikipedia articles. A relevance level of (3) is assigned to the (English) cross-lingual mate, and level (2) to all other (English) articles that link to the mate, AND are linked by the mate. Our intuition for this level (2) is that arti
cles in a bidirectional link relation to the mate are likely to either define similar concepts or are instances of the concept defined by the mate.
For a more detailed description of the corpus construction process, see the above publication