Subject ▸ Heterogeneity

A Life-Span Perspective on Life Satisfactio

The German population is ageing due to decreasing birth rates and increasing life expectancy. To sustain the German pension system, legal retirement age is increased step by step to 67 years. This raises questions about how to enable and motivate older individuals to work that long. Hence, it is important to understand whether they represent a homogeneous group that can be addressed through specific measures and instruments. Life-span theory points to systematic changes as well as increased heterogeneity with age.

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Loss Aversion and Learning to Bid

Bidding challenges learning theories. Even with the same bid, experiences vary stochastically: the same choice can result in either a gain or a loss. In such an environment, the question arises of how the nearly universally documented phenomenon of loss aversion affects the adaptive dynamics. We analyse the impact of loss aversion in a simple auction using the experienced-weighted attraction model of learning. Our experimental results suggest that individual learning dynamics are highly heterogeneous and affected by loss aversion to different degrees.

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Individual and collective choice and voting in common pool resource problem with heterogeneous actors

In this paper we investigate the effects of heterogeneity in common pool resource (CPR) problems. We examine whether heterogeneity impedes or facilitates coordination on an efficient use of a CPR by proposing and voting on allocation schemes. In a full information design we compare extractions and voting behavior in heterogeneous and homogeneous groups. If the CPR is extracted individually, we find no difference in efficiency between heterogeneous and homogeneous groups. However, when groups can vote on allocation schemes, homogeneous groups are more likely to reach an efficient agreement than heterogeneous groups.

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