Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017 was awarded to Richard Thaler (University of Chicago, United States) for his analyses in behavioural economics. Fellow Martijn van den Assem studied, together with Thaler and Dennie van Dolder (VU Amsterdam), decision-making behaviour in situations where a lot of money is at stake. Insights into this are relevant because of the scepticism about the generalisability of findings that are based on experiments, where nothing or hardly anything is at stake. In this research they looked at risk behaviour, cooperation and negotiating behaviour. Read the full paper here.
Article citation: Dennie van Dolder, Martijn J. van den Assem, Colin F. Camerer, and Richard H. Thaler, ‘Standing United or Falling Divided? High Stakes Bargaining in a TV Game Show.’ American Economic Review, Vol. 105, Issue 5 (May 2015), pp. 402-07
Read more on the website of VU Amsterdam.