Showing 1 - 10 of 553
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 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
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
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
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
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
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
This paper examines the effect of peers on individual risk taking. In the absence of informational motives, we investigate why social utility concerns may drive peer effects. We test for two main channels: utility from payoff differences and from conforming to the peer. We show experimentally...
Persistent link: https://www.econbiz.de/10009691154
Self-signaling theory argues that individuals partly behave prosocially to create or uphold a favorable self-image. To study self-signaling theory, we investigate whether increasing self-image concerns affects charitable giving. In our experiment subjects divide 20 euros between themselves and a...
Persistent link: https://www.econbiz.de/10010250033
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
Persistent link: https://www.econbiz.de/10011523747