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First- and second-order subjective expectations in strategic decision-making: Experimental evidence

Manski, Charles F.; Neri, Claudia - In: Games and Economic Behavior 81 (2013) C, pp. 232-254

We study first- and second-order subjective expectations (beliefs) in strategic decision-making. We elicit probabilistically both first- and second-order beliefs and apply the method to a Hide-and-Seek experiment. We study the relationship between choice and beliefs in terms of whether observed...

Persistent link: https://www.econbiz.de/10010738051

Gender differences in trust and trustworthiness: Individuals, single sex and mixed sex groups

Chaudhuri, Ananish; Paichayontvijit, Tirnud; Shen, Lifeng - In: Journal of Economic Psychology 34 (2013) C, pp. 181-194

We explore gender differences in trust and trustworthiness between male and female individuals and groups consisting of two members of the same sex to understand if single sex groups behave differently from individuals of the same sex. We find some differences in the early rounds such as: (i)...

Persistent link: https://www.econbiz.de/10010747607

Between-game rule learning in dissimilar symmetric normal-form games

Haruvy, Ernan; Stahl, Dale O. - In: Games and Economic Behavior 74 (2012) 1, pp. 208-221

Rule learning posits that decision makers, rather than choosing over actions, choose over behavioral rules with different levels of sophistication. Rules are reinforced over time based on their historically observed payoffs in a given game. Past works on rule learning have shown that when...

Persistent link: https://www.econbiz.de/10010597534

Equilibrium selection in static and dynamic entry games

Duffy, John; Ochs, Jack - In: Games and Economic Behavior 76 (2012) 1, pp. 97-116

We experimentally assess the predictive power of two equilibrium selection principles for binary N-player entry games with strategic complementarities. In static entry games, we test the theory of global games which posits that players play games of complete information as if they were playing a...

Persistent link: https://www.econbiz.de/10010664595

An experimental test of a committee search model

Hizen, Yoichi; Kawata, Keisuke; Sasaki, Masaru - In: European Economic Review 61 (2013) C, pp. 59-76

The objective of this paper is to design a laboratory experiment for an infinite-horizon sequential committee search …, compared with single-agent search, the search duration is longer for committee search under the unanimity rule, but is shorter … for committee search in which at least one vote is required to stop searching. In addition, according to estimates from …

Persistent link: https://www.econbiz.de/10010665910

Does self-relevance affect information processing? Experimental evidence on the response to performance and non-performance feedback

Ertac, Seda - In: Journal of Economic Behavior & Organization 80 (2011) 3, pp. 532-545

In many settings, individuals are confronted with decision problems that involve information relevant to their self-image. This paper uses an experiment to explore whether the self-relevance of information influences information processing. The experiment implements two information processing...

Persistent link: https://www.econbiz.de/10010576946

Nonparametric learning rules from bandit experiments: The eyes have it!

Hu, Yingyao; Kayaba, Yutaka; Shum, Matthew - In: Games and Economic Behavior 81 (2013) C, pp. 215-231

How do people learn? We assess, in a model-free manner, subjectsʼ belief dynamics in a two-armed bandit learning experiment. A novel feature of our approach is to supplement the choice and reward data with subjectsʼ eye movements during the experiment to pin down estimates of subjectsʼ...

Persistent link: https://www.econbiz.de/10011049849

Relative performance information in asset markets: An experimental approach

Schoenberg, Eric J.; Haruvy, Ernan - In: Journal of Economic Psychology 33 (2012) 6, pp. 1143-1155

An important issue in the study of asset market bubbles is the extent to which traders are influenced by their perceived performance relative to other traders. Extant research on laboratory asset market bubbles has generally kept performance information private, effectively excluding such...

Persistent link: https://www.econbiz.de/10011051392

Discount Pricing

Armstrong, Mark; Chen, Yongmin - C.E.P.R. Discussion Papers - 2013

options, and there is less incentive to search. We also discuss a behavioral model where the propensity to buy increases when …

Persistent link: https://www.econbiz.de/10011083448

Search Costs, Demand-Side Economies and the Incentives to Merge under Bertrand Competition

Moraga-González, José-Luis; Petrikaite, Vaiva - C.E.P.R. Discussion Papers - 2013

search sequentially for satisfactory deals. In the pre-merger symmetric equilibrium, consumers visit firmsrandomly. However … non-merging stores, and only when they do not find a satisfactory product there they visit the merging firms. As search … products of the constituent firms, which generates sizable search economies. We show that such demand-side economies can confer …

Persistent link: https://www.econbiz.de/10011083482