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The Origin of the Winnerâ€™s Curse: A Laboratory Study

Charness, Gary B; Levin, Dan - Department of Economics, University of California-Santa … - 2007

The Winnerâ€™s Curse (WC) is one of the most robust and persistent deviations fromtheoretical predictions that has been established in experimental economics and claimed to exist in many field environments. There have been many attempts to explain the winnerâ€™s curse, such as ignoring...

Persistent link: https://www.econbiz.de/10011131668

Herding and Contrarian Behavior in Financial Markets: An Internet Experiment

Drehmann, Mathias; Oechssler, Joerg; Roider, Andreas - Department of Economics, University of California-Santa … - 2003

We report results of an internet experiment designed to test the theory of informational cascades in financial markets … consulting firm, participated in the experiment. As predicted by theory, we find that the presence of a flexible market price …

Persistent link: https://www.econbiz.de/10011131663

Auction Equilibrium with Costly Information Acquisition

Guzman, Rolando M; Kolstad, Charles D. - Department of Economics, University of California-Santa … - 1997

This paper presents a simple model of auction equilibrium. The distinctive feature of the model is that each bidder may …

Persistent link: https://www.econbiz.de/10010538313

An Unlucky Feeling: Persistent Overestimation of Absolute Performance with Noisy Feedback

Grossman, Zachary; Owens, David - Department of Economics, University of California-Santa … - 2011

How does overconfidence arise and persist in the face of experience and feedback? We examine experimentally how individuals' beliefs about their absolute, as opposed to relative, performance on a quiz react to noisy, but unbiased, feedback. Participants believe themselves to have received...

Persistent link: https://www.econbiz.de/10010678013

Delegating to a Powerless Intermediary: Does It Reduce Punishment?

Grossman, Zachary; Oexl, Regine - Department of Economics, University of California-Santa … - 2011

Beyond the classical reasons of efficiency, commitment, the distribution of information, or incentive provision, a person may also delegate decision rights so as to avoid blame for an unpopular or immoral decision. We show that by delegating to an intermediary, a dictator facing an allocation...

Persistent link: https://www.econbiz.de/10010678019

Broken Promises: An Experiment

Charness, Gary B; Dufwenberg, Martin - Department of Economics, University of California-Santa … - 2008

We test whether promises per se are effective in enhancing cooperative behavior in a form of trust game. In a new treatment, rather than permitting free-form messages, we instead allow only a bare promise-only message to be sent (or not). We find that bare promises are much less effective in...

Persistent link: https://www.econbiz.de/10010538323

Promises & Partnership

Charness, Gary B; Dufwenberg, Martin - Department of Economics, University of California-Santa … - 2006

We examine experimentally the impact of communication on trust and cooperation. Our design admits observation of promises, lies, and beliefs. The evidence is consistent with people striving to live up to othersâ€™ expectations in order to avoid guilt, as can be modeled using psychological...

Persistent link: https://www.econbiz.de/10011131677

Access Pricing, Quality Degradation, and Foreclosure in the Internet

Foros, Oystein; Kind, Hans Jarle; Sørgard, Lars - Department of Economics, University of California-Santa … - 2003

Persistent link: https://www.econbiz.de/10011131639

Internet Job Search and Unemployment Durations

Kuhn, Peter; Skuterud, Mikal Skuterud - Department of Economics, University of California-Santa … - 2002

diffusion of internet access in the late 1990â€™s. Which types of persons incorporated the internet into their job search … of internet job search derived from the December 1998 and August 2000 CPS Computer and Internet Supplements, matched with … job search outcomes from subsequent CPS files. We find that internet searchers are positively selected on observables, but …

Persistent link: https://www.econbiz.de/10011131666

Social and Moral Norms in the Laboratory

Charness, Gary; Schram, Arthur - Department of Economics, University of California-Santa … - 2012

Social norms involve observation by others and external sanctions for violations,while moral norms involve introspection and internal sanctions. We develop a simple model ofindividual preferences that incorporates moral and social norms. We then examine dictatorchoices, where we create a shared...

Persistent link: https://www.econbiz.de/10010678008