Behavioral and Experimental Economics

Summer School Experimental Economics

The Behavioral and Experimental Economics group has an influential position in this field in the Netherlands and Europe. CREED, the Amsterdam-based group, focuses particularly on three main projects: economics of political decision making; bounded rationality and institutions and experimental economics. The research of the Rotterdam-based group focuses on two broad themes: decision under risk and uncertainty and intertemporal choice.

Cooperative Behavior, Strategic Interaction and Complex Systems

This research group focuses on: (non-)cooperative game theory; nonlinear dynamics and complex systems; bounded rationality, learning and heterogenous expectations; dynamic models of collective behavior and social networks & dynamic optimization.

Econometrics and Operations Research

Research themes: time series econometrics, panel data, Bayesian econometrics, applied econometrics and econometric methodology. Applications can be found in areas as diverse as monetary economics, labor economics, marketing and asset pricing. Some fellows in this group focus on operations research.

Finance

The Finance group at TI spans many of the core fields in finance: asset pricing, corporate finance, financial econometrics, market microstructure, and financial institutions.

Labor, Health, Education and Development

At TI, a large group of fellows works in different areas of labour, health, education and development.

Macroeconomics and International Economics

Fellows in the Macroeconomics and International Economics group carry out research on growth, innovation, international trade and factor mobility, the role of economic geography, banking and monetary economics, and fiscal policy.

Organizations and Markets

The Organizations and Markets (OM) group spans many areas in (applied) microeconomics, including the economics of organizations, industrial organization, entrepreneurship, innovation, and auctions.

Spatial, Transport and Environmental Economics

The STEE group addresses four themes: urban and regional dynamics, land use, transportation, and environment and resources. Many fellows combine policy research with fundamental research.

Author(s)
Email
j.h.sonnemans@uva.nl
Journal
The Journal of Law, Economics, and Organization, 2012, 28, 687-716

In criminal cases, the task of the judge is foremost to transform the uncertainty about the facts into the certainty of the verdict. An extensive literature shows that people deviate from rationality when dealing with probability. It seems therefore unavoidable that in difficult criminal cases, miscarriages of justice occur, but this is hard to study in the field. In a laboratory experiment, we examine the relationship between evidence of which the diagnostic value is known, subjective probability of guilt and errors in verdicts for abstract criminal cases. We look at two situations: (1) all evidence is given and (2) evidence can be acquired. In both situations, verdicts are inaccurate. For given evidence, errors are biased toward the most serious type, unfounded conviction. In the situation where evidence can be acquired, participants do not acquire enough which results in many mistakes, evenly divided over unfounded convictions and unfounded acquittals. We suggest ways to reduce error.

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