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Limited depth of reasoning and failure of cascade formation in the laboratory
Kübler, Dorothea; Weizsäcker, Georg - 2000
player can obtain a signal for free (as in the experiment by Anderson and Holt, 1997, American Economic Review), the case of …
Persistent link: https://www.econbiz.de/10009612571
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Does cascade behavior in information cascades reflect Bayesian updating? : an experimental study
Oberhammer, Clemens; Stiehler, Andreas - 2001
Updating behavior in cascade experiments is usually investigated on the basis of urn prediction. But urn predictions alone can only provide a very rough information on individual updating behavior. Therefore, we implement a BDM mechanism. Subjects have to submit maximum prices that they are...
Persistent link: https://www.econbiz.de/10009613603
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Combining rational choice and evolutionary dynamics : the indirect evolutionary approach
Königstein, Manfred; Müller, Wieland - 1999
that are well known from game theory and evolutionary game theory to solve these games. For illustration we include two …
Persistent link: https://www.econbiz.de/10009580475
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On the regulation of social norms
Kübler, Dorothea - 2000
A model is developed to understand how norms can be influenced by "norm entrepreneurs", e.g. lawmakers, government agencies, unions etc. Two instruments of influencing the dynamics of normfollowing behavior are analyzed, namely transforming the (monetary) incentives and changing the meaning or...
Persistent link: https://www.econbiz.de/10009583884
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From full to bounded rationality : the limits of unlimited rationality
Güth, Werner; Kliemt, Hartmut - 2001
choice making. We illustrate why this role is not being fulfilled well by standard models of full rationality and that … theories of bounded rationality are needed not only for better predictions, but also for developing better advice. Our main … point is that one cannot succeed here without studying how theories of bounded rationality causally influence the behavior …
Persistent link: https://www.econbiz.de/10009612562
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Strategies, heuristics and the relevance of risk aversion in a dynamic decision problem
Müller, Wieland - 1999
economic theory suggests to solve the decision problem. But since real decision makers can hardly be expected to behave …
Persistent link: https://www.econbiz.de/10009581111
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On saving and investing : an experimental study of intertemporal decision making in a complex stochastic environment
Anderhub, Vital; Güth, Werner; Knust, Florian - 2000
The experimental situation presents a complex stochastic intertemporal allocation problem. First, two initial chance moves select one of three possible termination probabilities which then determines whether "life" lasts 3,4,5, or 6 periods. Compared to Anderhub et al. (1997) participants are...
Persistent link: https://www.econbiz.de/10009582396
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The relevance of equal splits : on a behavioral discontinuity in ultimatum games
Güth, Werner; Huck, Steffen; Müller, Wieland - 1998
The findings on the ultimatum game are considered as belonging to the most robust experimental results. In this paper we present a slightly altered version of the mini ultimatum game of Bolton and Zwick (1995). Whereas in the latter exactly equal splits were feasible in our games these were...
Persistent link: https://www.econbiz.de/10009574884
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Employment duration and resistance to wage reductions : experimental evidence
Burda, Michael C.; Güth, Werner; Kirchsteiger, Georg; … - 1998 - Rev.
employees to accept lower wages as well? As an alternative to reviewing statistical data, we have performed an experiment with a … lower competitive wage in the second phase of an employment relationship that is known to both parties. The experiment casts …
Persistent link: https://www.econbiz.de/10009578579
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Co-evolution of preferences and information in simple games of trust
Güth, Werner; Kliemt, Hartmut; Peleg, Bezalel - 1998
In standard rational choice modelling decisions are made according to given information and preferences. In the model presented here the 'information technology' of individual decision makers as well as their preferences evolve in a dynamic process. In this process decisions are made rationally...
Persistent link: https://www.econbiz.de/10009578580