Philipp C. Wichardt

Philipp C. Wichardt
University of Rostock · Institut für Volkswirtschaftslehre

About

120
Publications
3,135
Reads
How we measure 'reads'
A 'read' is counted each time someone views a publication summary (such as the title, abstract, and list of authors), clicks on a figure, or views or downloads the full-text. Learn more
569
Citations
Citations since 2017
19 Research Items
321 Citations
20172018201920202021202220230102030405060
20172018201920202021202220230102030405060
20172018201920202021202220230102030405060
20172018201920202021202220230102030405060

Publications

Publications (120)
Article
The personality trait of sensation seeking (SS) plays a prominent role in health-related risk behaviors and is associated with psychopathology, emotion regulation, and delinquency. Despite this high relevance, hardly any ultra-short self-report measures optimized for test duration exist for the assessment of SS. An exception is the Brief Sensation...
Article
This paper reports results from a classroom dictator game comparing the effects of three different sets of standard instructions. The results show that seemingly small and typically unreported differences in standard instructions induce different perceptions regarding entitlement and ownership of the money to be distributed, and that these percepti...
Poster
OBJECTIVES: Focussing on German subjects, this study tries to assess people’s willingness to co-pay for pharmaceuticals and potential determinants influencing their decision. While pricing decisions are usually made by political institutions on behalf of the population, the aim of this study is to shed some light on the actual preferences of the la...
Poster
Full-text available
OBJECTIVES: Pharmaceutical prices are subject to political discussion worldwide. With Germany being a reference country in the European Union its pharmaceutical prices are of particular importance. This study analyses the factors influencing the outcome of pharmaceutical price negotiations between the National Association of Statutory Health Insura...
Article
Full-text available
This paper reports the results from a statistical analysis of pharmaceutical price negotiations in Germany, where the pricing system was changed in 2011 in order to tie prices more to the benefits of the pharmaceuticals. A multiple linear regression of 187 pharmaceuticals which were assessed from 2011 to 2017 suggests that, despite the change, the...
Article
Full-text available
This paper reports the results from a statistical analysis of pharmaceutical price negotiations in Germany, where the pricing system was changed in 2011 in order to tie prices more to the benefits of the pharmaceuticals. A multiple linear regression of 187 pharmaceuticals which were assessed from 2011 to 2017 suggests that, despite the change, the...
Article
Full-text available
Integrating individual inequity aversion (Fehr and Schmidt in Q J Econ 114:817–868, 1999) into a utilitarian social welfare function, we derive a simple welfare measure which comprises both GDP and income inequality as measured by the Gini-index.
Article
Full-text available
This paper proposes a simple framework to model social preferences in a way that explicitly separates economic incentives from social (context) effects and allows for uncertainty also about the latter. Moreover, it allows non-economic cost associated with the deviation from some norm to be more discriminatory than just “right” or “wrong.” We refer...
Article
How can an argument that is based on assumptions known to be false deliver any insightful conclusions let alone be used for policy recommendations? Over the years, a variety of concerns regarding (micro-)economic modelling and its relevance for real life have been expressed along these lines. Adding to this methodological discussion, I take serious...
Article
Relying on the framework provided by Schwartz's theory of personal values, we investigated whether values can help explain prosocial behaviour. We first distinguished value‐expressive behaviours from value‐ambivalent behaviours. The former are compatible with primarily one value or with congruent values, the latter with mutually conflicting values....
Article
This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate authority to a potentially biased but better informed agent. Assuming the agents’ outside option to be determined by market beliefs about their type, interim evaluations (a) provide a possibility for the principal to potentially separate...
Article
How do people trade off efficiency against equality concerns? To study this question, we conducted a modified mini ultimatum game (N=120) in which proposers were asked to choose between offering 8:2 and y:y, y∈{5, 4.5, 4,.., 0.5}; all offers in Euro. According to the data, 58 of 60 proposers have a unique switching point towards the unequal split a...
Article
Many loan commitment contracts contain a material adverse change clause which allows banks to renege or step back from their commitment based on rather subjective claims regarding the borrowers' prospective financial situation. While this sounds like an attractive option for banks, empirical evidence shows that, despite its frequent appearance in c...
Article
How do people perceive a social dilemma such as the Prisoner’s Dilemma if the problem is framed focusing entirely on monetary incentives – as commonly done in laboratory experiments? Focusing on the involved conflict between strategic and moral incentives, we designed a two-stage experiment to analyse both the subjects’ judgement (Part 1) and their...
Article
This paper considers the effects of a two-period interaction on the decision of a principal to delegate authority to a potentially biased but better informed agent. Compared to the (repeated) one-period case, the agent's first period actions may also signal his type which in turn impacts wages in Period 2. As a result, biased agents have an incenti...
Article
Purpose The paper emphasises the general relevance of social norms and social associations for cooperative behaviour in less or non‐social economic contexts, focusing in particular on economic laboratory experiments, and to illustrate the underlying psychological driving forces. Design/methodology/approach The argument focuses on the interplay bet...
Article
Full-text available
The authors examined the proposal that personality disorder categories may denote particular detrimental combinations of personality dimensions. A multiround economic exchange game (ten round trust game), conducted with university students pre-selected on basis of their personalities (N = 164), provided a framework within which to investigate inabi...
Article
This paper proposes an extension of the valuation equilibrium concept (Jehiel and Samet, 2007), which partly endogenises the underlying grouping of actions. The effect on equilibrium predictions is illustrated in a burning money game.
Article
This paper considers the endogenous formation of an institution to provide a public good. If the institution governs only its members, players have an incentive to free ride on the institution formation of others and the social dilemma is simply shifted to a higher level. Addressing this second-order social dilemma, we study the effectiveness of th...
Article
It is a well known fact that for any finite extensive form game G there is a strategy profile σ which, together with an appropriate system of beliefs μ, constitutes a sequential equilibrium of G (Kreps and Wilson, 1982). However, as we demonstrate in this paper, there are sequential equilibria that crucially rely on a very specfic choice of μ for t...
Article
This paper provides an argument for the advantage of a preference for identity‐consistent behaviour from an evolutionary point of view. Within a stylized model of social interaction, it is shown that the development of cooperative social norms is greatly facilitated if the agents possess a preference for identity‐consistent behaviour. As compliance...
Article
We examined the interactive effects of personal values and situational power on proposer and responder behavior in an ultimatum bargaining game. The current literature suggests that situational power could moderate the influence of personal values on behavior. For proposers (N = 107), high scores on the Self-Transcendence vs. Self-Enhancement value...
Article
In this paper, we study the individual payoff effects of overconfident self-perception in teams. In particular, we demonstrate that the welfare of an overconfident agent in a team of one rational and one overconfident agent or a team of two overconfident agents can be higher than that of the members of a team of two rational agents. This result hol...
Article
This paper reconsiders the valuation equilibrium concept (Jehiel and Samet, 2007) and proposes an additional regularity condition concerning the players' equilibrium strategies. The condition, which requires equilibrium strategies to induce the same local behaviour at all nodes with 'similar' optimal actions, increases both the predictive power and...
Article
The provision of public goods is often hindered by a lack of powerful institutions that can sanction free riders or otherwise enforce private contributions to the public good. The simple deposit based solution introduced by Gerber and Wichardt (J Public Econ 93:429-439, 2009) solves this problem, but may require prohibitively large deposits, in par...
Article
This paper compares two prominent empirical measures of individual risk attitudes - the Holt and Laury (2002) lottery-choice task and the multi-item questionnaire advocated by Dohmen, Falk, Huffman, Schupp, Sunde and Wagner (forthcoming) - with respect to (a) their correlation with actual risk-taking behaviour in the lab - here the amount sent in a...
Article
This paper investigates the effectiveness of two instruments designed to defer termination in the centipede game: an insurance against termination by the opponent, and an option to offer the opponent a bonus for not terminating the game. The rational prediction in both cases is passing until close to the end. Empirically, however, only the bonus op...
Article
This paper suggests a potential rationale for the recent empirical finding that overconfident agents tend to self-select into more competitive environments (e.g. Dohmen and Falk, 2006). In particular, it shows that moderate overconfidence in a contest can improve the agent's performance relative to an unbiased opponent and can even lead to an advan...
Article
Purpose The purpose of this paper is to explore the question of how far costly transfers of economic benefits to others, often understood in economics as instances of (behavioural) altruism, can be motivated by individual group status concerns, i.e. without the common reference to other‐regarding preferences. Design/methodology/approach Results fr...
Article
In this paper, we reconsider the valuation equilibrium concept (Jehiel and Samet, 2007) and partly endogenise the grouping of actions entailed in the concept. In particular, we allow players to differentiate between a priori similar actions based on differences in the preceding history. Yet, doing so is costly. Applying the modified valuation equil...
Article
This paper reports data from an ultimatum mini-game in which responders first had to choose whether or not to participate. Participation was costly, but the participation cost was smaller than the minimum payoff that a responder could guarantee himself in the ultimatum game. Compared to a standard treatment, we find that the rejection rate of unfav...
Article
Full-text available
Three studies predicted and found that the individual's conformism values are one determinant of whether behaviour is guided by other personal values or by social norms. In Study 1 (N=50), pro-gay law reform participants were told they were either in a minority or a majority in terms of their attitude towards the law reform. Only participants who w...
Article
This paper provides an example showing that for finite extensive form games without perfect recall existence of Nash equilibria in behaviour strategies is not guaranteed in general.
Article
This paper proposes a simple two-stage mechanism to establish positive contributions to public goods in the absence of powerful institutions to provide the public good and to sanction free-riders. In this mechanism players commit to the public good by paying a deposit prior to the contribution stage. If there is universal commitment, deposits are i...
Article
This paper proposes a simple two-stage mechanism to establish positive contributions to public goods in the absence of powerful institutions to provide the public good and to sanction free-riders. In this mechanism players commit to the public good by paying a deposit prior to the contribution stage. If there is universal commitment, deposits are i...
Article
This paper reports data from an ultimatum mini-game in which responders first had to choose whether or not to participate. Participation was costly, but the participation cost was smaller than the minimum payoff that a responder could guarantee himself in the ultimatum game. Compared to a standard treatment, we find that the rejection rate of unfav...
Article
Full-text available
Economic Sociology. The European Newsletter
Article
This paper investigates the effectiveness of two instruments designed to defer termination in the centipede game: an insurance against termination by the opponent, and an option to offer the opponent a bonus for not terminating the game. The rational prediction in both cases is passing until close to the end. Empirically, however, only the bonus op...
Article
This paper proposes a bounded rationality approach to model equilibrium play in games. It is based on the observation that decision makers often do not seem to fully distinguish between different but seemingly similar decisions and tend to treat such similar decisions in a standardised/habitual way. To capture this, each player's information partit...
Article
This article reports data from a questionnaire study indicating that in a consumer choice problem, additional choice options can cause a tangible disutility that people prefer to avoid if the additional options exhibit features that conflict with those of the old ones, for example, lottery tickets (gambling) and health-care products (health and rel...
Article
This paper provides an argument for the advantage of a preference for identity-consistent behaviour from an evolutionary point of view. Within a stylised model of social interaction, we show that the development of cooperative social norms is greatly facilitated if the agents of the society possess a preference for identity consistent behaviour. As...
Article
Corruption in the public sector erodes tax compliance and leads to higher tax evasion. Moreover, corrupt public officials abuse their public power to extort bribes from the private agents. In both types of interaction with the public sector, the private agents are bound to face uncertainty with respect to their disposable incomes. To analyse effect...
Article
Purpose - The paper emphasises the general relevance of social norms and social associations for cooperative behaviour in less or non-social economic contexts, focusing in particular on economic laboratory experiments, and to illustrate the underlying psychological driving forces. Design/methodology/approach - The argument focuses on the interplay...
Article
Purpose - The purpose of this paper is to explore the question of how far costly transfers of economic benefits to others, often understood in economics as instances of (behavioural) altruism, can be motivated by individual group status concerns, i.e. without the common reference to other-regarding preferences. Design/methodology/approach - Results...

Network

Cited By