Selected Publications

. Malleable Lies: Communication and Cooperation in a High Stakes TV Game Show. Accepted at Management Science, 2019.

Journal article Working paper on SSRN

. Risky Choice in the Limelight. In Review of Economics and Statistics, 2016.

Journal article Working paper on SSRN Media: Financial Times Media: The Times Blog: The Conversation

. Number Preferences in Lotteries. In Judgment and Decision Making, 2016.

Journal article Working paper on SSRN Media: Wall Street Journal Media: NOS (Dutch) Media: Algemeen Dagblad (Dutch) Media: BNR (Dutch)

. Standing United or Falling Divided? High Stakes Bargaining in a TV Game Show. In American Economic Review, P&P, 2015.

Journal article Working paper on SSRN

Other Publications

. The Evil Eye: Eye Gaze and Competitiveness in Social Decision Making. In European Journal of Social Psychology, 2018.

Journal article Working paper on SSRN Blog: The Conversation

. Comparing Uncertainty Aversion Towards Different Sources. In Theory and Decision, 2017.

Journal article Working paper on SSRN

. Coöperatie in Spelshows (Cooperation in Game Shows). In Samenwerking in sociale dilemma’s; Voorbeelden van Nederlands onderzoek, 2012.

Download from SSRN

. Social Motives in Network Formation: An Experiment. In International Conference on Game Theory for Networks, 2009.

Download from SSRN

Working Papers

Prince: An Improved Method for Measuring Incentivized Preferences

Cathleen A. Johnson, Aurélien Baillon, Han Bleichrodt, Zhihua Li, Dennie van Dolder, Peter P. Wakker

This paper introduces the Prince incentive system for measuring preferences. Prince is a variation of the random incentive system that enhances isolation and makes incentive compatibility more transparent to subjects. It allows for the precise and direct elicitation of indifference values as with matching while having the clarity and validity of choice lists. Prince avoids the opaqueness of Becker-DeGroot-Marschak’s mechanism and precludes strategic behavior in adaptive experiments. Using Prince, we shed new light on willingness to accept and the major components of decision under uncertainty: utilities, subjective beliefs, and ambiguity attitudes. Prince outperforms a classical implementation of the random incentive system.

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Incentives, Performance and Choking in Darts

Bouke Klein Teeselink, Rogier J.D. Potter van Loon, Martijn J. van den Assem, Dennie van Dolder

This paper examines the effect of incentives on the performance of darts players. We analyze four data sets covering a total of 28,761 darts matches of professional, amateur, and youth players. The game of darts offers an attractive natural research setting, because performance can be observed at the individual level and without obscuring effects of risk considerations and behavior of others. We find that amateur and youth players perform better under moderately higher incentives, but choke when the incentives are really high. Professional players similarly display better performance under higher incentives, but appear less susceptible of choking. These results speak to a growing literature on the limits of increasing incentives as a recipe for better performance.

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Can the Market Divide and Multiply? A Case of 807 Percent Mispricing under Short-Selling Constraints

Marc B.J. Schauten, Martijn J. van den Assem, Dennie van Dolder, Remco C.J. Zwinkels

This paper documents a strong violation of the law of one price surrounding a large-size rights issue. If prices are right, the relation between the prices of shares and rights should follow the outcome of a simple calculation. In the case of Royal Imtech N.V. prices deviated sharply from the theoretical prediction. Throughout the term of the rights, investors were buying shares at prices that were up to nine times what they should have been given the price of the rights. Short-selling constraints explain the failure of arbitrage as a safeguard of market efficiency.

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Teaching

At the VU Amsterdam I teach Behavioral Finance and Real Estate (3rd year undergraduate). This course provides a behavioral perspective on real estate decision making and markets. Students learn how behavioral biases affect the decisions of participants in real estate markets, and how the bounded rationality of market participants can explain real estate market dynamics. In my part of the course, I provide students with a psychological perspective on negotiations, property valuations, and mortgage choices.

In addition, I provide tutorials in Finance (2nd year undergraduate). In this course we build the foundation for the study of corporate finance and investments. The focus is on financial decision-making in theory and practice. Our coverage of core finance topics includes: i) capital budgeting, ii) asset pricing, and iii) financial investment.

Finally, I supervise MSc theses on topics related to behavioral finance. Interested students can contact me by email.

Previously, I taught tutorials in behavioural economics and supervised BSc and MSc theses on topics related to behavioral economics and behavioral finance at Erasmus University Rotterdam.

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