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Learning direction theory and the winners curse

Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - 2001

We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an unknown value. A winner s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can account for this. However, other influences on...

Persistent link: https://www.econbiz.de/10011539130

Fair salaries and the moral costs of corruption

Abbink, Klaus - 2000

In a bribery experiment, we test the hypothesis that distributive fairness considerations make relatively well-paid public officials less corruptible. Corrupt decisions impose damages to workers whose wage is varied in two treatments. However, there is no apparent difference in behaviour.

Persistent link: https://www.econbiz.de/10011538846

How to play 3x3-games : a strategy method experiment

Selten, Reinhard; Abbink, Klaus; Buchta, Joachim; … - 2000

We report an experiment that uses the strategy method (Selten 1967) to elicit subjects' general strategy for playing any 2-person 3x3-game with integer payoffs between 0 and 99. Each two subjects' strategies play 500000 games in each of the 5 tournaments. For games with pure strategy equilibria...

Persistent link: https://www.econbiz.de/10011539702

The framing of games and the psychology of play

Dufwenberg, Martin; Gächter, Simon; Hennig-Schmidt, Heike - 2010

Psychological game theory can provide rational-choice-based framing effects; frames influence beliefs, beliefs …-shot public good games we show that frames affect subject’s first- and second-order beliefs, and contributions. From a … contributions are related to second- and first-order beliefs, respectively. Our results are consistent with either. -- Framing …

Persistent link: https://www.econbiz.de/10008986776

The framing of games and the psychology of play

Dufwenberg, Martin (contributor); … - 2008

Psychological game theory can help provide a rational choice explanation of framing effects; frames influence beliefs …, beliefs influence motivations. We explain this theoretically, and explore the empirical relevance experimentally. In a 2 …×2 design of one-shot public good games we show that frames affect subject's first- and second-order beliefs, and contributions …

Persistent link: https://www.econbiz.de/10003782356

An experimental test of design alternatives for the British 3G/UMTS auction

Abbink, Klaus; Irlenbusch, Bernd; Pezanis-Christou, Paul; … - 2001

In spring 2000, the British government auctioned off licences for Third Generation mobile telecommunications services. In the preparation of the auction, two designs involving each a hybrid of an English and a sealed-bid auction were suggested by the government: a discriminatory and a uniform...

Persistent link: https://www.econbiz.de/10011540075