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This paper reports experimental evidence on behaviour in an Ultimatum Game where responders have low structural information and feedback so that they have to learn the nature of the game during repeated play. The results lend support to the view that certain learning conditions are less...
Persistent link: https://www.econbiz.de/10005125583
We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10005407609
The results of Ultimatum Game experiments are often quoted as evidence for the role of fairness in bargaining or in … of pairs of players shows that different types of players coexist in the subject pool. Whereas previous experiments found …
Persistent link: https://www.econbiz.de/10005408237
In experimental studies pairs that repeatedly play the simple coordination game mutual fate control may regularly fail to coordinate when they are given little in-formation, i.e. when subjects are uninformed about the payoff matrix and feed-back is limited to their own payoff. Our experimental...
Persistent link: https://www.econbiz.de/10005550889
simultaneously, announcing any positions they choose on any issues. To us, salience is simply the discussion of an issue in a … campaign. If both candidates and voters are expected utility maximizers, we find salience results, in that candidates typically …-Schmeidler to illustrate how robust nonsalience and salience of issues might be generated. …
Persistent link: https://www.econbiz.de/10005118536
Our study concerns bargaining behavior in situations where one party is in a stronger position than the other. We investigate both the tradeoff the favored party makes between pursuing his strategic advantage and giving weight to other players' concern for fairness, and the tradeoff the...
Persistent link: https://www.econbiz.de/10005556668
We conduct experiments of a cheap-talk game with incomplete information in which one sender type has an incentive to … misrepresent her type. Although that Sender type mostly lies in the experiments, the Receiver tends to believe the Sender …
Persistent link: https://www.econbiz.de/10005556670
We study a class of interactive decision making situations in which each agent must choose to participate in one of several lotteries with commonly known prizes. In contrast to the widely studied paradigm of choice between gambles in individual decision making under risk, the probability of...
Persistent link: https://www.econbiz.de/10005556674
We study experimentally two versions of a model in which a buyer and a seller bargain over the price of a good; however, the buyer can choose to leave the negotiation table to search for other alternatives. Under one version, if the buyer chooses to search for a better price, the opportunity to...
Persistent link: https://www.econbiz.de/10005556687
This article reports the results of a market experiment designed to test the predictions of the constant relative risk aversion model and to study the importance of information feedback in repeated first-price sealed-bid auctions. The data reveal that introduction of price information feedback...
Persistent link: https://www.econbiz.de/10005556692