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Individual psychology, market scaffolding, and behavioral tests
Published online by Cambridge University Press: 06 November 2001
Abstract
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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- © 2001 Cambridge University Press