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Ambiguous Information and Market Entry: An Experimental Study
Brandts, Jordi; Yao, Lan - Volkswirtschaftliche Fakultät, … - 2010
We study experimentally how entry into a market with uncertain capacity is affected by the type of information potential entrants have available. Our focus is on behavior in a two-market entry game. In the risky information market there are two possible market capacities, both known to occur...
Persistent link: https://www.econbiz.de/10008646848
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Do ambiguity effects survive in experimental asset markets?
Füllbrunn, Sascha; Rau, Holger; Weitzel, Utz - Volkswirtschaftliche Fakultät, … - 2013
Despite ample evidence of ambiguity preferences in individual decision making, experimental studies of ambiguity … in finance with ambiguity preferences, it is not a given that individual ambiguity effects survive in markets. We … assets. Our results suggest that markets are able to wash out ambiguity effects, which we do observe in an individual …
Persistent link: https://www.econbiz.de/10011111031
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Ellsberg Paradox and Second-order Preference Theories on Ambiguity: Some New Experimental Evidence
Yang, Chun-Lei; Yao, Lan - Volkswirtschaftliche Fakultät, … - 2011
We study the two-color problem by Ellsberg (1961) with the modification that the decision maker draws twice with replacement and a different color wins in each draw. The 50-50 risky urn turns out to have the highest risk conceivable among all prospects including the ambiguous one, while all...
Persistent link: https://www.econbiz.de/10008833271
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Single vote multiple seats elections. Didactics of district versus proportional representation, using the examples of the United Kingdom and The Netherlands
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2010
executive (President) are riddled with voting paradoxes. Superior to a single vote are some methods with preference orderings …
Persistent link: https://www.econbiz.de/10008533262
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Obedience to Rules with Mild Sanctions: The Roles of Peer Punishment and Voting
Chen, Josie I - Volkswirtschaftliche Fakultät, … - 2014
help make such rules effective include the presence of informal sanctions by peers, and implementation through voting. I … study the impact of non-deterrent formal sanctions on voluntary contributions to a public good in a laboratory experiment … after both implemented and randomly overridden voting. I find that informal sanctions strengthen the effect of formal ones …
Persistent link: https://www.econbiz.de/10011107459
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Endowment as a blessing
Frenkel, Sivan; Heller, Yuval; Teper, Roee - Volkswirtschaftliche Fakultät, … - 2012
Experimental evidence and field data suggest that agents hold two seemingly unrelated biases: failure to account for the fact that the behavior of others reflects their private information (“winner's curse”), and a tendency to value a good more once it is owned (“endowment effect”). In...
Persistent link: https://www.econbiz.de/10011259069
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Knowing me, imagining you: Projection and overbidding in auctions
Breitmoser, Yves - Volkswirtschaftliche Fakultät, … - 2015
People overestimate the probability that others share their values or preferences. I introduce type projection equilibrium (TPE) to capture such projection in Bayesian games. TPE allows each player to believe his opponents share his type with intermediate probability \rho. After establishing...
Persistent link: https://www.econbiz.de/10011167228
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Cursed beliefs with common-value public goods
Cox, Caleb - Volkswirtschaftliche Fakultät, … - 2014
, despite the absence of free-riding incentives. In a laboratory experiment, subjects indeed under-contribute relative to …
Persistent link: https://www.econbiz.de/10011109699
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Institution design in social dilemmas: How to design if you must?
Rockenbach, Bettina; Wolff, Irenaeus - Volkswirtschaftliche Fakultät, … - 2009
Considerable experimental evidence has been collected on how to solve the public-good dilemma. In a 'first generation' of experiments, this was done by presenting subjects with a pre-specified game out of a huge variety of rules. A 'second generation' of experiments introduced subjects to two...
Persistent link: https://www.econbiz.de/10005108453
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Experimental Evidence on Valuation and Learning with Multiple Priors
Qiu, Jianying; Weitzel, Utz - Volkswirtschaftliche Fakultät, … - 2013
Abstract Popular models for decision making under ambiguity assume that people use not one but multiple priors. This …. This holds under ambiguity, but not in a comparison treatment under risk. …
Persistent link: https://www.econbiz.de/10011258993