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Cross-game learning and cognitive ability in auctions

Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin; … - 2021

study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account cognitive skills … losses from high bids are more salient than in SPAs. Experience in FPAs causes substantial cross-game learning for … bid shading by cognitively more able participants, resulting in lower profits in FPAs. Thus, cross-game learning has the …

Persistent link: https://www.econbiz.de/10012668312

The tradeoff between redistribution and effort : evidence from the field and from the lab

Buch, Claudia M.; Engel, Christoph - 2012

Building on a theoretical model we test the hypothesis that effort choices and preferences for redistribution are simultaneously determined. Using cross-country panel data from the World Value Survey, we find that it is important to model preferences for redistribution and effort choices...

Persistent link: https://www.econbiz.de/10009535110

Imitation : theory and experimental evidence

Alpesteguia, Jose; Huck, Steffen; Oechssler, Joerg - 2003

We introduce a generalized theoretical approach to study imitation models and subject themodels to rigorous experimental testing. In our theoretical analysis we find that the differentpredictions of previous imitation models are due to different informational assumptions, notto different...

Persistent link: https://www.econbiz.de/10011509505

Buy-It-Now" or "Sell-It-Now" auctions : effects of changing bargaining power in sequential trading mechanisms

Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2015

We study experimentally the effect of bargaining power in two sequential mechanisms that offer the possibility to trade at a fixed price before an auction. In the "Buy-It-Now" format, the seller has the bargaining power and offers a price prior to the auction; whereas in the "Sell-It-Now"...

Persistent link: https://www.econbiz.de/10011406561

More effort with less pay : on information avoidance, belief design and performance

Huck, Steffen; Szech, Nora; Wenner, Lukas M. - 2015

In a tedious real effort task, subjects know that their piece rate is either low or ten times higher. When subjects are informed about their piece rate realization, they adapt their performance. One third of subjects nevertheless forego this instrumental information when given the choice - and...

Persistent link: https://www.econbiz.de/10011346303

Behavioral economics as applied to firms : a primer

Armstrong, Mark; Huck, Steffen - 2010

We discuss the literatures on behavioral economics, bounded rationality and experimental economics as they apply to firm behaviour in markets. Topics discussed include the impact of imitative and satisficing behavior by firms, outcomes when managers care about their position relative to peers,...

Persistent link: https://www.econbiz.de/10003937240