PUBLICACIONES

The Effect of Consequential Thinking on Trust Game Behavior

ISI: The Effect of Consequential Thinking on Trust Game Behavior

TERRY CONNOLLY., TAMAR KUGLER., EDGAR KAUSEL E.

2009 - Journal of Behavioral Decision Making - Vol. 22, Nº 2, Pp 101-119

Abstract

Contrary to rational Expected Monetary Value (EMV) predictions that no money will be transferred in Trust Games, in experiments players make positive transfers. Theorists have proposed modifying the Sender’s utility function while retaining utilitymaximization assumptions to account for this behavior. Such accounts assume that Senders can grasp the possible outcomes of their choices, their probabilities, and utilities. In reality, however, Senders’ choices are unexpectedly complex, and the assumption that they approximate expected utility maximization is highly implausible. Instead, we suggest that Senders are guided by general propensities to trust others. Two experiments examine the effect of inducing consequential thought on Sender behavior. One induced consequential thought directly; the other did so indirectly. The amount sent was significantly reduced following either manipulation. This suggests that models of Sender behavior in Complex Trust Games should not assume that participants routinely engage in consequential thinking (CT) of the depth that would be required for utility maximization.

Keywords

Trust, Consequential thinking, Regret, Game.

¿Quieres seguir leyendo? [Accede a la publicación completa]

La Universidad de Chile propone mejorar los sesgos generados hacia las mujeres en el mundo laboral

Es necesario fortalecer y transferir herramientas conceptuales sobre el impacto que generan las diferencias de género en el trabajo. El pasado 09 de Agosto. El Observatorio de Gest...

Profesor David Díaz converso en CNN Internacional sobre "Data Transfer Proyect"

El Data Transfer Project, ¿quién será dueño de la información?   Las gigantes tecnológicas lanzan un nuevo plan para permitir a sus usuarios t...

Todos los Derechos © 2014 | Departamento de Administración - Facultad de Economía y Negocios - Universidad de Chile - Diagonal Paraguay 257, torre 26, oficina 1101, piso 11, Santiago, Chile.