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Adaptive social learning
March, Christoph - 2016
The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …
Persistent link: https://www.econbiz.de/10011434567
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Norms, emotions, and culture in human cooperation and punishment : theory and evidence
Dhami, Sanjit S.; Wei, Mengxing - 2023
We consider the psychological and social foundations of human contributions and punishments in a voluntary contributions mechanism with punishment (VCMP). We eliminate 'dynamic economic linkages' between the two stages of our "modified" VCMP to rule out other potential explanations. We use a...
Persistent link: https://www.econbiz.de/10013494040
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Complexity and hyperbolic discounting
Enke, Benjamin; Graeber, Thomas Wilhelm; Oprea, Ryan - 2023
A large literature shows that people discount financial rewards hyperbolically instead of exponentially. While discounting of money has been questioned as a measure of time preferences, it continues to be highly relevant in empirical practice and predicts a wide range of real-world behaviors,...
Persistent link: https://www.econbiz.de/10014447758
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On the psychological foundations of ambiguity and compound risk aversion
Wu, Keyu; Fehr, Ernst; Hofland, Sean; Schonger, Martin - 2024
Ambiguous prospects are ubiquitous in social and economic life, but the psychological foundations of behavior under ambiguity are still not well understood. One of the most robust empirical regularities is the strong correlation between attitudes towards ambiguity and compound risk which...
Persistent link: https://www.econbiz.de/10014551421
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Learning from zero : how to make consumption-saving decisions in a stochastic environment with an AI algorithm
Shi, Rui - 2021 - This draft: August 16, 2021
This exercise offers an innovative learning mechanism to model economic agent's decision-making process using a deep … reinforcement learning algorithm. In particular, this AI agent is born in an economic environment with no information on the … adjusting its actions accordingly (i.e., online learning). I illustrate that the economic agent under deep reinforcement …
Persistent link: https://www.econbiz.de/10012603191
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Individual and developmental differences in the relationship of preferences and theory of mind
Leipold, Kristina; Vetter, Nora C.; Dittrich, Marcus; … - 2012
Theory of mind and individual preferences are important determinants in social decision making. The current study examined in a large sample whether being a cooperative preference type is related with better theory of mind skills. Furthermore, by testing adolescents and adults, we examined the...
Persistent link: https://www.econbiz.de/10009689352
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Intelligence disclosure and cooperation in repeated interactions
Lambrecht, Marco; Proto, Eugenio; Rustichini, Aldo; … - 2021
We investigate in a laboratory setting whether revealing information on intelligence affects behavior in games with repeated interactions. In our experimental design we communicate information on the cognitive ability of both players. We use three stage games: Prisoners' Dilemma (PD) and two...
Persistent link: https://www.econbiz.de/10012652718
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Correlation neglect in belief formation
Enke, Benjamin; Zimmermann, Florian - 2013
learning. …
Persistent link: https://www.econbiz.de/10010211474
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Reverse Bayesianism : revising beliefs in light of unforeseen events
Becker, Christoph; Melkonyan, Tigran A.; Proto, Eugenio; … - 2020
Bayesian Updating is the dominant theory of learning in economics. The theory is silent about how individuals react to …
Persistent link: https://www.econbiz.de/10012307444
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Deception under time pressure : conscious decision or a problem of awareness?
Konrad, Kai A.; Lohse, Tim; Simon, Sven A. - 2017
Time is a crucial determinant of deception, since some misreporting opportunities come as a surprise and require an intuitive decision while others allow for extensive reflection time. To be able to pursue a deceptive strategy, however, a subject must be aware of the misreporting opportunity....
Persistent link: https://www.econbiz.de/10011723505