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Variety Aversion and Information Overload: An Experimental Approach
Kaiser, Karen - Banco de México - 2011
This paper analyzes the effect of information overload on preference or aversion for variety. According to the model, a rational decision maker who suffers from information overload, faces a two-stage decision process, and is choosing from a set of unknown goods will find it optimal at some...
Persistent link: https://www.econbiz.de/10009023315
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Social anchor effects in decision-making under ambiguity
Lahno, Amrei M. - Volkswirtschaftliche Fakultät, … - 2014
dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …
Persistent link: https://www.econbiz.de/10010897328
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The Role of Information Feedback in Local Reserve Energy Auction Markets
Madlener, Reinhard; Rosen, Christiane - Institut für Future Energy Consumer Needs and Behavior … - 2013
last couple of decades, several studies on feedback information in games and its role in learning have been conducted. Some … of the most notable ones are the results in learning direction theory (Selten & Stoecker, 1986), impulse balance theory … learning and the change in bidder behavior for the divisible good auction case. However, the impact of the competitive …
Persistent link: https://www.econbiz.de/10010840304
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Peer Effects in Risk Taking
Lahno, Amrei M.; Serra-Garcia, Marta - CESifo - 2012
We examine peer effects in risk taking with complete information and compare explanations for peer effects based on relative payoff concerns to explanations that allow peer choices to matter. We vary experimentally whether individuals can condition a simple lottery choice on the lottery choice,...
Persistent link: https://www.econbiz.de/10010739341
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The values of ex-ante and ex-post communication in dictator games
Langenbach, Pascal - Max-Planck-Institut zur Erforschung von … - 2014
In the dictator game, the recipient’s opportunity to send a message to the dictator increases giving. The effect is equally strong if the message is written before or after the dictator has decided (experiment 1). Recipients have a stronger willingness to pay for ex-ante communication, however...
Persistent link: https://www.econbiz.de/10010781566
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Payments or persuasion: common pool resource management with price and non-price measures
Delaney, Jason J.; Jacobson, Sarah - Economics Department, Williams College - 2013
We use lab experiments to study policies that address common pool resource overuse. We look at a price mechanism, specifically a Pigouvian subsidy, and four non-price interventions. The non-price policies are information alone, information with a normative message, communication alone, and...
Persistent link: https://www.econbiz.de/10011268626
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The Power of Reasoning: Experimental Evidence
Dugar, Subhasish; Bhattacharya, Haimanti - Department of Economics, University of Utah - 2008
This paper presents an experimental investigation of how a systematic variation in the cognitive demands on subjects affects the optimal play. The innovation of this paper is the choice of a game, which we call the Game of Position. This is a two-player zero-sum game characterized by a...
Persistent link: https://www.econbiz.de/10005434799
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Fungibility, Labels, and Consumption
Abeler, Johannes; Marklein, Felix - Institute for the Study of Labor (IZA) - 2008
Fungibility of money is a central principle in economics. It implies that any unit of money is substitutable for another and that the composition of income is irrelevant for consumption. We find in a field experiment that even in a simple, incentivized setup many subjects do not treat money as...
Persistent link: https://www.econbiz.de/10005822688
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Does Collusion without Communication Exist?
Muren, Astri; Pyddoke, Roger - Nationalekonomiska institutionen, Stockholms Universitet - 1999
Tacit cartels did not arise in experimental triopoly markets even with the help of detailed instructions to prospective cartel members on how to coordinate actions. In duopoly markets tacit cartels were successful, with winning bids and supporting "pass" bids increasing gradually. A simulated...
Persistent link: https://www.econbiz.de/10005419577
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Too many charities? Insight from an experiment with multiple public goods and contribution thresholds
Corazzini, Luca; Cotton, Christopher; Valbonesi, Paola - Dipartimento di Scienze Economiche "Marco Fanno", … - 2013
We present results from an experiment with multiple public goods, where each good produces benefits only if total contributions to it reach a minimum threshold. The experiment allows us to compare contributions in a benchmark treatment with a single public good and in treatments with more public...
Persistent link: https://www.econbiz.de/10011156736