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Learning in networks: An experimental study using stationary concepts

Berninghaus, Siegfried; Neumann, Thomas; Vogt, Bodo - 2011

Our study analyzes theories of learning for strategic interactions in networks. Participants played two of the 2 x 2 … order shown by Selten and Chmura. This result supports our view that learning in networks is different from learning in …

Persistent link: https://www.econbiz.de/10010286462

The minority of three-game: An experimental and theoretical analysis

Chmura, Thorsten; Güth, Werner; Pitz, Thomas; … - 2010

decision rules, and that only a quarter of them decide according to the toss of a fair coin. Reinforcement learning is the most …

Persistent link: https://www.econbiz.de/10010281623

(Non-) behavioral economics: a programmatic assessment

Güth, Werner - 2007

Economic theory has evolved without paying proper attention to behavioral approaches, especially to social, economic, and cognitive psychology. This has recently changed by including behavioral economics courses in many doctoral study programs. Although this new development is most welcome, the...

Persistent link: https://www.econbiz.de/10010263842

Optimistic, but not in control: Life-orientation and the theory of mixed control

Urbig, Diemo; Monsen, Erik - 2009

Why are some people more optimistic about their life than others? Literature on locus of control suggests that optimism is associated with the belief that one's life outcomes are controlled by internal factors, such as ability, instead of external factors, such as powerful others or chance....

Persistent link: https://www.econbiz.de/10010266644

On the evolution of preferences

Gamba, Astrid - 2011

A common feature of the literature on the evolution of preferences is that evolution favors nonmaterialistic preferences only if preference types are observable at least to some degree. We argue that this result is due to the assumption that in each state of the evolutionary dynamics some...

Persistent link: https://www.econbiz.de/10010281643

Learning foundation for the cursed equilibrium

Miettinen, Topi - 2008

Recent literature has questioned the existence of a learning foundation for the partially cursed equilibrium. This …

Persistent link: https://www.econbiz.de/10010266678

Auctions and leaks: A theoretical and experimental investigation

Fischer, Sven; Güth, Werner; Kaplan, Todd R.; Zultan, Ro'i - 2017

In first- and second-price private value auctions with sequential bidding, second movers may discover the first movers' bid. Equilibrium behavior in the first-price auction is mostly unaffected but there are multiple equilibria in the second- price auction. Consequently, comparative statics...

Persistent link: https://www.econbiz.de/10011788770

Behavioral social learning

March, Christoph; Ziegelmeyer, Anthony - 2009

We revisit the economic models of social learning by assuming that individuals update their beliefs in a non … heterogeneous updating rules in a simple social learning environment reconciles equilibrium predictions with laboratory evidence …. Additionally, a model of social learning with bounded private beliefs and sufficiently rich updating rules corresponds to a model …

Persistent link: https://www.econbiz.de/10010267092

The use and effect of social capital in new venture creation: Solo entrepreneurs vs. new venture teams

Cantner, Uwe; Stützer, Michael - 2010

This paper examines the use of social capital in the venture creation process. We compare solo entrepreneurs (n=182) and new venture teams (n=274) from a random sample of start-ups in innovative industries and test social capital use and its effects on firm performance. Our results reveal that...

Persistent link: https://www.econbiz.de/10010271190

Trust in generosity: An experiment of the repeated Yes-No game

Güth, Werner; Otsubo, Hironori - 2014

This paper reports results of a 100-round Yes-No game experiment conducted under the random matching protocol. In contrast to ultimatum bargaining, the responder in the Yes-No game decides whether to accept without knowing the proposer's offer. Although both games have the same solution outcome...

Persistent link: https://www.econbiz.de/10010500156