[VCEE Seminar] VCEE Seminar 24.1.2020

[Mailing list of the VCEE seminar series]

Dear all,

You are cordially invited to attend the VCEE seminar on Friday, Jan 24  from
10:00-12:00 (SR 1, Ground floor). We have two speakers: Dotan Persitz (U Tel
Aviv) and 

Gönül Dogan (U Köln)

 

10:00-11:00 Dotan Persitz (U Tel Aviv)
Titel: ``Design Invariance in the Classic Consumer Choice Problem``.

 

		

If you are interested in meeting Dotan Persitz after the seminar (meeting
slots of 30' , room no 05.641 please register via this doodle-link: 

https://doodle.com/poll/h9u6guwagcg3vzgz

 


11:00-12:00 Gönül Dogan  (U Köln)
Titel: Pyramid Schemes
with Kenan Kalaycı and Priscilla Man
Abstract.
Ponzi and pyramid schemes promise a large return for investors with limited
risk. In reality, most investors lose money when such schemes collapse due
to a lack of new entrants. In an online experiment without deception, we
invite participants to invest their endowment in a pyramid-like investment
scheme with a negative expected return. We find that more than half of the
subjects are willing to invest in the scheme regardless of their age,
gender, years of schooling, trust levels, and income. Complexity of the
decision-making in the pyramid scheme plays an important role in investment;
the size of the group, difficulty of calculating average payoff outcomes as
well as the percentage of losers contribute to complexity. Risk tolerance
and preference for positively skewed outcomes partially explain investment
decisions. Our findings suggest that pyramid schemes can be attractive even
in the absence of deceptive recruitment efforts by scheme founders.

 

 

 

		

 

If you are interested in meeting Gönül Dogan  after the seminar (meeting
slots of 30' , room no 05.510b  please register via this doodle-link: 

		

https://doodle.com/poll/xsh9wad2769imya9

 

Best regards,

Gabriele Prochaska

 

University of Vienna

 <http://econ.univie.ac.at/> Department of Economics

Oskar-Morgenstern-Platz 1

1090 Vienna

 

 

 

 

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