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The Decision Maker Matters: Individual versus Group Behaviour in Experimental Beauty-Contest Games
Kocher, Martin G.; Sutter, Matthias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
Economics has devoted little attention so far as to whether the type of decision maker matters for economic decisions. However, many important decisions like those on monetary policy or a company’s business strategy are made by (small) groups rather than an individual. We compare behaviour of...
Persistent link: https://www.econbiz.de/10005866848
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On the Absorbability of the Guessing Game Theory -A Theoretical and Experimental Analysis
Morone, Andrea; Sandri, Serena; Uske, Tobias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972)and further elaborated by Güth and Kliemt (2004), discusses the problem whether atheory can survive its own acceptance. Whereas this holds for strategic equilibria accordingto the assumptions on which they are based,...
Persistent link: https://www.econbiz.de/10005866646
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Adjustment Dynamics and Rational Play in Games
Swinkels, Jeroen M. - 1991
game theory, simple models of imitation, models of experimentation and adjustment, and some simple learning dynamics. We …
Persistent link: https://www.econbiz.de/10012235814
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Religion and trust: an experimental study
Tan, Jonathan H. W.; Vogel, Claudia - 2005
We investigate the relationship between religion and trust. Using a questionnaire, we measure: i) general religiosity, and; ii) the extent of religious beliefs, experience, and ritual. These are then analyzed with behaviour in a trust game (Berg et al., Games and Economic Behaviour, 1995), which...
Persistent link: https://www.econbiz.de/10010297242
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Competition and fatigue at work
Angelova, Vera; Giebe, Thomas; Ivanova-Stenzel, Radosveta - 2018
We study theoretically and experimentally the role of fatigue and recovery within a competitive work environment. At work, agents usually make their effort choice in response to competition and monetary incentives. At the same time, they have to take into account fatigue, which accumulates over...
Persistent link: https://www.econbiz.de/10011985278
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Knowing Me, Imagining You: Projection and Overbidding in Auctions
Breitmoser, Yves - 2017
Overbidding in auctions has been attributed to e.g. risk aversion, loser regret, level-k, and cursedness, relying on varying identifying assumptions. I argue that \"type projection\'\" organizes these findings and largely captures observed behavior. Type projection formally models that people...
Persistent link: https://www.econbiz.de/10011932901
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How Do Sellers Benefit From Buy-It-Now Prices in Ebay Auctions? -- an Experimental Investigation
Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2018
In Buy-It-Now (BIN, hereafter) auctions, sellers can make a \"take-it-or-leave-it\" price offer (BIN price) prior to an auction. We analyse experimentally how eBay sellers set BIN prices and whether they benefit from offering them. Using the real eBay environment in the laboratory, we find that...
Persistent link: https://www.econbiz.de/10011932962
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Are strategies anchored?
Ivanova-Stenzel, Radosveta; Seres, Gyula - 2019
Anchoring is one of the most studied and robust behavioral biases, but there is little knowledge about its persistence in strategic settings. This article studies the role of anchoring bias in private-value auctions. We test experimentally two different anchor types. The announcement of a random...
Persistent link: https://www.econbiz.de/10012290342
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Cross-game Learning and Cognitive Ability in Auctions
Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin G. - 2022
ability. We study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account …-game learning for cognitively less able participants but does not affect overbidding for the cognitively more able. Vice versa …, 'cross-game learning' may rather be understood as 'cross-game transfer', as it has the potential to benefit bidders with …
Persistent link: https://www.econbiz.de/10014467730
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An Experimental Test of the Global-Game Selection in Coordination Games with Asymmetric Players
Heinemann, Frank - 2023
In symmetric binary-choice coordination games, the global-game selection (GGS) has been proven to predict a high proportion of observed choices correctly. In these games, the GGS is identical to the best response to Laplacian beliefs about the fraction of players choosing either action. This...
Persistent link: https://www.econbiz.de/10014467731