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Measuring strategic uncertainty in coordination games
Heinemann, Frank; Nagel, Rosemarie; Ockenfels, Peter - Department of Economics and Business, Universitat … - 2004
subjective beliefs of players. In a laboratory experiment we measure subjects’ certainty equivalents for three coordination games … into account. Subjects’ behavior is consistent with probabilistic beliefs about the aggregate outcome, but inconsistent … with probabilistic beliefs about individual behavior. …
Persistent link: https://www.econbiz.de/10005827518
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Stable sunspot equilibria in a cash-in-advance economy
Evans, George W.; Honkapohja, Seppo; Marimon, Ramon - Department of Economics and Business, Universitat … - 2004
We analyze a monetary model with flexible labor supply, cash-inadvance constraints and seigniorage-financed government deficits. If the intertemporal elasticity of substitution of labor is greater than one, there are two steady states, one determinate and the other indeterminate. If the...
Persistent link: https://www.econbiz.de/10005827487
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Cognitive bubbles
Bosch-Rosa, Ciril; Meissner, Thomas; Bosch-Domènech, Antoni - Department of Economics and Business, Universitat … - 2015
Smith et al. (1988) reported large bubbles and crashes in experimental asset markets, a result that has been replicated by a large literature. Here we test whether the occurrence of bubbles depends on the experimental subjects' cognitive sophistication. In a two-part experiment, we first run a...
Persistent link: https://www.econbiz.de/10011127588
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Pre-play communication and credibility: A test of Aumann's conjecture
Charness, Gary - Department of Economics and Business, Universitat … - 1998
The effectiveness of pre-play communication in achieving efficient outcomes has long been a subject of controversy. In some environments, cheap talk may help to achieve coordination. However, Aumann conjectures that, in a variant of the Stag Hunt game, a signal for efficient play is not...
Persistent link: https://www.econbiz.de/10005772240
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Heterogeneity, selection and labor market disparities
Bonfiglioli, Alessandra; Gancia, Gino - Department of Economics and Business, Universitat … - 2013
We study the incentives to improve ability in a model where heterogeneous firms and workers interact in a labor market characterized by matching frictions and costly screening. When effort in improving ability raises both the mean and the variance of the resulting ability distribution, multiple...
Persistent link: https://www.econbiz.de/10011250933
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Can sanctions induce pessimism? An experiment
Galbiati, Roberto; Schlag, Karl; Weele, Joël van der - Department of Economics and Business, Universitat … - 2009
. Sanctions introduced in the second round by the experimenter lead to more optimistic beliefs and higher efforts. This is not …
Persistent link: https://www.econbiz.de/10005772160
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Determinants of linear judgment: A meta-analysis of lens model studies
Karelaia, Natalia; Hogarth, Robin - Department of Economics and Business, Universitat … - 2007
The mathematical representation of Brunswik’s lens model has been used extensively to study human judgment and provides a unique opportunity to conduct a meta-analysis of studies that covers roughly five decades. Specifically, we analyze statistics of the “lens model equation” (Tucker,...
Persistent link: https://www.econbiz.de/10005827439
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Elicited beliefs and social information in modified dictator games: What do dictators believe other dictators do?
Iriberri, Nagore; Rey-Biel, Pedro - Department of Economics and Business, Universitat … - 2008
beliefs about other subjects’ actions in the same modified dictator games to test how much of the existent heterogeneity in … beliefs about others’ actions. In particular, Selfish individuals cannot conceive others being non-Selfish while Social …
Persistent link: https://www.econbiz.de/10005827497
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Let's (not) talk about sex: The effect of information provision on gender differences in performance under competition
Iriberri, Nagore; Rey-Biel, Pedro - Department of Economics and Business, Universitat … - 2011
We study how gender differences in performance under competition are affected by the provision of information regarding rival’s gender and/or differences in relative ability. In a laboratory experiment, we use two tasks that differ regarding perceptions about which gender outperforms the...
Persistent link: https://www.econbiz.de/10009327881
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Salience and consumer choice
Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - Department of Economics and Business, Universitat … - 2010
We present a theory of context-dependent choice in which a consumer's attention is drawn to salient attributes of goods, such as quality or price. An attribute is salient for a good when it stands out among the good's attributes, relative to that attribute's average level in the choice set (or...
Persistent link: https://www.econbiz.de/10008756410