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Learning by Bidding: Evidence from a Large-Scale Natural Experiment

Hanousek, Jan; Kocenda, Evzen - Center for Economic Research and Graduate Education and … - 2005

Learning is a subject of intense research in experimental economics. We contribute to this debate by presenting persuasive evidence that learning took place among uninformed heterogeneous agents on a quasi-stock market during a large-scale natural experiment that by size, incentives, and...

Persistent link: https://www.econbiz.de/10005146552

How Certain Is the Uncertainty Effect?

Rydval, Ondrej; Ortmann, Andreas; Prokosheva, Sasha; … - Center for Economic Research and Graduate Education and … - 2009

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so-called uncertainty effect, namely, that people value a binary lottery over non-monetary outcomes less than other people value the lottery’s worse outcome. While the authors implemented a verbal...

Persistent link: https://www.econbiz.de/10008528422

How financial incentives and cognitive abilities affect task performance in laboratory settings: An illustration

Rydval, Ondrej; Ortmann, Andreas - Center for Economic Research and Graduate Education and … - 2004

Drawing on Gneezy and Rustichini (2000), we illustrate that subjects' cognitive abilities seem at least as important for their performance as do financial incentives they face. Theorists should thus pay more attention to the ability aspect of cognitive production.

Persistent link: https://www.econbiz.de/10005357527

Capital and Labor Effects in a Recall Task: More Evidence in Support of Camerer and Hogarth (1999)

Rydval, Ondrej - Center for Economic Research and Graduate Education and … - 2005

This paper extends existing evidence on the interaction and relative productivity of cognitive effort and cognitive capital in an experimental environment. I focus on the impact of task-specific cognitive capital, which is central to the capital-labor argument of Camerer and Hogarth (1999) as...

Persistent link: https://www.econbiz.de/10005086608

Valuing a Risky Prospect Less than Its Worst Outcome: Uncertainty Effect or Task Ambiguity?

Ortmann, Andreas; Prokosheva, Sasha; Rydval, Ondrej; … - Center for Economic Research and Graduate Education and … - 2007

Gneezy, List and Wu [Q. J. Econ. 121 (2006) 1283-1309] document that lotteries are often valued less than the lotteries’ worst outcomes. We show how to undo this result.

Persistent link: https://www.econbiz.de/10005086624

Why Can’t a Woman Bid More Like a Man?

Chen, Yan; Katuscak, Peter; Ozdenoren, Emre - Center for Economic Research and Graduate Education and … - 2005

in the first-price auction, while we find no evidence of a gender difference in the likelihood of dominant strategy play … in the second-price auction. At a biological level, in the first-price auction, women during menstruation, when the … estrogen level is lowest, do not bid differently from men. The gender difference in the first-price auction is driven by women …

Persistent link: https://www.econbiz.de/10005178142

The Causal Effect of Cognitive Abilities on Economic Behavior: Evidence from a Forecasting Task with Varying Cognitive Load

Rydval, Ondrej - Center for Economic Research and Graduate Education and … - 2012

We identify the causal effect of cognitive abilities on economic behavior in an experimental setting. Using a forecasting task with varying cognitive load, we identify the causal effect of working memory on subjects' forecasting performance, while also accounting for the effect of other...

Persistent link: https://www.econbiz.de/10010842911

Paying for Banking Services: What Determines the Fees?

Dvorak, Pavel; Hanousek, Jan - Center for Economic Research and Graduate Education and … - 2009

We analyze a unique dataset to test an empirical model of retail bank fee determinants in five Central European countries. Due to the data structure we can cope with heterogeneity and cross-subsidization by employing a representative fee index instead of using variables associated with...

Persistent link: https://www.econbiz.de/10008536803

Creating a Winner's Curse via Jump Bids

Ettinger, David; Michelucci, Fabio - Center for Economic Research and Graduate Education and … - 2015

would otherwise disappear in the course of an open ascending auction. The eect of the winner's curse is to create allocative …

Persistent link: https://www.econbiz.de/10011261195

Analysis of Electricity Industry Liberalization in Great Britain: How Did the Bidding Behavior of Electricity Producers Change?

Tashpulatov, Sherzod N. - Center for Economic Research and Graduate Education and … - 2010

Promoting competition among electricity producers is crucial for ensuring allocative efficiency and lower electricity prices. In this paper, I empirically examine the electricity market of England and Wales in order to analyze to what extent the regulatory reforms were successful in promoting...

Persistent link: https://www.econbiz.de/10008642457