Similar Search Results

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

Duopoly Competition, Escape Dynamics and Non-cooperative Collusion

Janjgava, Batlome; Slobodyan, Sergey - Center for Economic Research and Graduate Education and … - 2011

cooperative motives. In contrast to Green and Porter (1984), our results show that in a model with learning, breakdown of a cartel …

Persistent link: https://www.econbiz.de/10009358657

Growth of Electoral Fraud in Non-Democracies: The Role of Uncertainty

Vorobyev, Dmitriy - Center for Economic Research and Graduate Education and … - 2010

because of learning through Bayesian updating and, thus, as the deterrent role of fraud intolerance uncertainty declines, the …

Persistent link: https://www.econbiz.de/10008751894

Free Entry and Social Efficiency under Unknown Demand Parameters

Janjgava, Batlome - Center for Economic Research and Graduate Education and … - 2013

In the paper, I examine free entry in homogeneous product markets and its social efficiency. Previous research on free entry in homogeneous product markets has shown that under Cournot oligopoly with fixed setup costs the free entry equilibrium always delivers excessive entry. In contrast, I...

Persistent link: https://www.econbiz.de/10010842905

Learning about Disaster Risk: Joint Implications for Consumption and Asset Prices

Gillman, Max; Kejak, Michal; Pakos, Michal - Center for Economic Research and Graduate Education and … - 2014

Rietz (1988) and Barro (2006) subject consumption and dividends to rare disasters in the growth rate. We extend their framework and subject consumption and dividends to rare disasters in the growth persistence. Wemodel growth persistence by means of two hidden types of economic slowdowns:...

Persistent link: https://www.econbiz.de/10010842914

Dynamics of Consumption and Dividends over the Business Cycle

Pidkuyko, Myroslav - Center for Economic Research and Graduate Education and … - 2014

We examine a trivariate time series model that is subject to a regime switch, where the shifts are governed by an unobserved, two-state variable that follows a Markov process. The analysis is performed in a Bayesian framework developed by Albert and Chib (1993), where the unobserved states are...

Persistent link: https://www.econbiz.de/10011106509

Steiner, Jakub; Stewart, Colin - Center for Economic Research and Graduate Education and … - 2007

We study a learning process in which subjects extrapolate from their experience of similar past strategic situations to … the current decision problem. When applied to coordination games, this learning process leads to contagion of behavior … contagion due to learning share the qualitative features of those from contagion due to incomplete information, but …

Persistent link: https://www.econbiz.de/10005146538

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 … quantify learning we develop new measures of individual performance during the bidding process when prices of goods vary over …

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

Speculation and Survival in Financial Markets

Kovac, Eugen - Center for Economic Research and Graduate Education and … - 2005

The paper analyzes a finite time economy with a single risky asset which pays a one-shot payoff (dividend). The payoff is random and its distribution is not known a priori. Agents observe public signals (random draws from the same distribution) and update their beliefs about the payoff. They...

Persistent link: https://www.econbiz.de/10005086602

Reversibility in Dynamic Coordination Problems

Kovac, Eugen; Steiner, Jakub - Center for Economic Research and Graduate Education and … - 2008

Agents at the beginning of a dynamic coordination process (1) are uncertain about actions of their fellow players and (2) anticipate receiving strategically relevant information later on in the process. In such environments, the (ir)reversibility of early actions plays an important role in the...

Persistent link: https://www.econbiz.de/10005086646