Tempus Fugit: Time Pressure in Risky Decisions

We 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 an experiment we find that risk aversion for gains is robust under time pressure whereas risk seeking for losses turns into risk aversion under time pressure. For mixed prospects, subjects become 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 under time pressure. We discuss the implications of our findings for decision making situations that involve time pressure

An Experimental Test of Precautionary Bidding

Auctions often involve goods exhibiting a common knowledge ex-post risk that is independent of buyers’ private values or their signals regarding common value components. Esö and White (2004) showed theoretically that ex-post risk leads to precautionary bidding for DARA bidders: Agents reduce their bids by more than their appropriate risk premium. Testing precautionary bidding with data from the field seems almost impossible. We conduct experimental first-price auctions that allow us to directly identify the precautionary premium and find clear evidence for precautionary bidding. Bidders are significantly better off when a risky object rather than an equally valued sure object is auctioned. Our results are robust if we control for potentially confounding decision biases

Tempus Fugit: Time Pressure in Risky Decisions

We 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 an experiment we find that risk aversion for gains is robust under time pressure whereas risk seeking for losses turns into risk aversion under time pressure. For mixed prospects, subjects become 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 under time pressure. We discuss the implications of our findings for decision making situations that involve time pressure.time pressure; risky decisions; risk aversion; loss aversion; gain seeking; aspiration level

An Experimental Test of Precautionary Bidding

Auctions often involve goods exhibiting a common knowledge ex-post risk that is independent of buyers’ private values or their signals regarding common value components. Esö and White (2004) showed theoretically that ex-post risk leads to precautionary bidding for DARA bidders: Agents reduce their bids by more than their appropriate risk premium. Testing precautionary bidding with data from the field seems almost impossible. We conduct experimental first-price auctions that allow us to directly identify the precautionary premium and find clear evidence for precautionary bidding. Bidders are significantly better off when a risky object rather than an equally valued sure object is auctioned. Our results are robust if we control for potentially confounding decision biases.precautionary bidding; prudence; auction; experiment

Trial to control woolly aphid by earwigs

In years of disadvantageous atmospheric conditions natural control of woolly aphid by its parasite A. mali is insufficient in the majority of cases. In organic fruit-growing a chemical control is not possible. Settlements of earwigs showed a complete and lasting control of the pest in the year of testing, 2005. Fruitdamages were not found

Trials to control European pear sucker

European pear sucker causes financial penalties in many pear orchards. Honey dew exudations reduce quality. Another problem is the transmission of pear decline. In years of high infestation chemical treatments are complicated. Neither cutisan- nor sugar-treatments showed an appreciable reduction of the pest in the year 2005

Versuche zur Regulierung des Birnenblattsaugers

European pear sucker causes financial penalties in many pear orchards. Honey dew exudations reduce qual-ity. Another problem is the transmission of pear decline. In years of high infestation chemical treatments are complicated. Neither cutisan- nor sugar-treatments showed an appreciable reduction of the pest in the year 2005

Versuch zur Regulierung der Blutlaus mittels Ohrwurmansiedlung

In years of disadvantageous atmospheric conditions natural control of woolly aphid by its parasite A. mali is insufficient in the majority of cases. In organic fruit-growing a chemical control is not possible. Settlements of earwigs showed a complete and lasting control of the pest in the year of testing, 2005. Fruit-damages were not found

Impatience and Uncertainty: Experimental Decisions Predict Adolecents' Field Behavior

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment. We relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of health related field behavior and saving decisions. In particular, more impatient children and adolescents are more likely to spend money on alcohol and cigarettes, have a higher body mass index (BMI) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of field behavior

Zweijährige Ergebnisse der RAK 5-Verwirrung gegen den Kleinen Fruchtwickler am Bodensee

Seit einigen Jahren verursacht der Kleine Fruchtwickler (Grapholita lobarzewskii) in der Obstregion Bodensee Schaden in Apfelanlagen. Der meist nesterartig auftretende Befall ist an den Früchten durch folgende Symptome charakterisiert: Kleiner Spiralgang um das Anbohrloch, saubere Fraßgänge in der Frucht, zweites Anbohrloch, welches mit dem ersten durch einen bogenförmigen Gang unter der Fruchthaut verbunden ist sowie gelegentlich sternförmig verlaufende Furchen im Bereich der Befallsstellen. Der Falterflug setzt in der Regel Ende Mai ein, hat einen Höhepunkt in der 2.-3. Juniwoche und endet im Juli. Sowohl IP-Betriebe, wie auch alternativ wirtschaftende Betriebe haben zur Zeit keine direkten Bekämpfungsmöglichkeiten. Die Pheromon-Verwirrung wäre eine interessante Alternative, insbesondere deshalb, weil bereits ein fertig formuliertes Produkt vorliegt