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Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10010718532
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10013072106
candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment …
Persistent link: https://www.econbiz.de/10005051581
We conduct a laboratory experiment to shed light on the cognitive limitations that may affect the way decision makers …
Persistent link: https://www.econbiz.de/10012963774
We present an experiment to investigate the source of disappointment aversion in a sequential real-effort competition … Prowse experiment, where the latter treatment removes the scope for social comparisons. If disappointment aversion simply …
Persistent link: https://www.econbiz.de/10012953949
candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment …
Persistent link: https://www.econbiz.de/10012764390
It has been argued that guilt aversion (the aversion to violate others' expectations) and the compliance to descriptive social norms (the aversion to act differently than others in the same situation) are important drivers of human behavior. We show in a formal model that both motives are...
Persistent link: https://www.econbiz.de/10012916569
subjective beliefs of players. In a laboratory experiment we measure subjects’ certainty equivalents for three coordination games …
Persistent link: https://www.econbiz.de/10005094385
In this paper we test the AK model of growth with laboratory experiments. In each period, agents produce and trade …
Persistent link: https://www.econbiz.de/10009651181
strength. We then present three experiments that study main predictions and implications of the model. The first is a simple … principal-agent experiment that shows that consistency is valued by others and that this value is anticipated. The second … experiment underlines the crucial role of early commitment for consistency preferences. Finally we show how preferences for …
Persistent link: https://www.econbiz.de/10009228620