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Cross-game learning and cognitive ability in auctions

Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin; … - 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/10014476711

Beliefs and actions in the trust game : creating instrumental variables to estimate the causal effect

Costa-Gomes, Miguel A.; Huck, Steffen; Weizsäcker, Georg - 2012

In many economic contexts, an elusive variable of interest is the agent's belief about relevant events, e.g. about other agents' behavior. A growing number of surveys and experiments ask participants to state beliefs explicitly but little is known about the causal relation between beliefs and...

Persistent link: https://www.econbiz.de/10009583740

Expectations of reciprocity when competitors share information : experimental evidence

Ganglmair, Bernhard; Holcomb, Alex; Myung, Noah - 2019

Informal exchange of information among competitors has been well-documented in a variety of industries, and one's expectation of reciprocity shown to be a key determinant. We use an indeterminate horizon centipede game to establish a feedback loop in the laboratory and show that an individual's...

Persistent link: https://www.econbiz.de/10012055632

Nudging cooperation

Barron, Kai; Nurminen, Tuomas - 2018

This paper experimentally studies two simple interventions aimed at increasing public goods provision in settings in which accurate feedback about contributions is not available. The first intervention aims to exploit lying aversion by requiring subjects to send a non-verifiable ex post...

Persistent link: https://www.econbiz.de/10011982104

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/10012138992

Designing contests between heterogeneous contestants : an experimental study of tie-breaks and bid-caps in all-pay auctions

Llorente-Saguer, Aniol; Sheremeta, Roman M.; Szech, Nora - 2016

A well-known theoretical result in the contest literature is that greater heterogeneity decreases performance of contestants because of the "discouragement effect." Leveling the playing field by favoring weaker contestants through bid-caps and favorable tie-breaking rules can reduce the...

Persistent link: https://www.econbiz.de/10011473683

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/10014476806

Imitation under stress

Buckert, Magdalena; Oechssler, Joerg; Schwieren, Christiane - 2014

Imitating the best strategy from the previous period has been shown to be an important heuristic, in particular in relatively complex environments. In this experiment we test whether subjects are more likely to use imitation if they are under stress. Subjects play a repeated Cournot oligopoly....

Persistent link: https://www.econbiz.de/10010457243

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/10011902715

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 tend...

Persistent link: https://www.econbiz.de/10011698267

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