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Experimental games turned out to be remarkably productive tools for examining the nature of social preferences and social norms. This paper describes the methods and tools of experimental gametheory and provides a selection of games that have been useful. We also discuss the role of evolutionary...
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We study the pattern of correlations across a large number of behavioral regularities, with the goal of creating an empirical basis for more comprehensive theories of decision-making. We elicit 21 behaviors using an incentivized survey on a representative sample (n = 1;000) of the U.S....
Persistent link: https://www.econbiz.de/10011931952
We introduce DOSE - Dynamically Optimized Sequential Experimentation - and use it to estimate individual-level loss aversion in a representative sample of the U.S. population (N = 2,000). DOSE elicitations are more accurate, more stable across time, and faster to administer than standard...
Persistent link: https://www.econbiz.de/10011932012
The acknowledged importance of uncertainty in economic decision making has stimulated the search for neural signals that could influence learning and inform decision mechanisms. Current views distinguish two forms of uncertainty, namely risk and ambiguity, depending on whether the probability...
Persistent link: https://www.econbiz.de/10009450283
Neuroeconomics uses knowledge about brain mechanisms to inform economic analysis, and roots economics in biology. It opens up the "black box" of the brain, much as organizational economics adds detail to the theory of the firm. Neuroscientists use many tools— including brain imaging, behavior...
Persistent link: https://www.econbiz.de/10009450299
Market experiments designed to test whether individual errors are reduced by markets generally indicate that errors do make prices or trading volume irrational. For example, in markets for assets of uncertain value a "representativeness"- based theory predicts deviations of prices from Bayesian...
Persistent link: https://www.econbiz.de/10009450304
Linear models which fit regression equations to clinical judgments. then use the fitted parts of judgments as "bootstrapped" judgments, have outperformed clinical judgments in many tasks. Empirically, the phenomenon has been pervasive, but general conditions for the success of bootstrapping...
Persistent link: https://www.econbiz.de/10009450323