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There are many important decision problems where learning through experimentation is costly or impossible. In these …. In this paper, we design an investment game which allows us to study the influence of selection when learning from others … degree of bias due to selection neglect increases when other decision makers become more informed, or become more rational …
Persistent link: https://www.econbiz.de/10011982107
individual's intrinsic ability and on an external variable. We analyze the mistakes made by decision-makers who hold inaccurate … external factors if they fail. They are too easily dissatisfied with their environment, which leads them to experiment in … variable environments and revise their self-confidence over time. In contrast, underconfident decision-makers might be trapped …
Persistent link: https://www.econbiz.de/10011930663
How can naivete about present bias persist despite experience? To answer this question, our experiment investigates … the nature of the task at the second date further shows that learning is unencumbered by a change in environment. Our …
Persistent link: https://www.econbiz.de/10011976128
longitudinal experiment over four weeks, individuals have to complete a cumbersome task of unknown length. They are exposed to … (motivated procrastination) turns out to be robust to accounting for decision-makers' time preferences and emotional responses …, and looms largest for decision makers who tend to not acquire information that may include negative news. …
Persistent link: https://www.econbiz.de/10014487122
Do agents believe to be agreeing more with others in the long-run? This paper designs an experiment to study how … disagreement regardless of cognitive ability. Learning about the state of the world has little effect on the evolution of perceived …
Persistent link: https://www.econbiz.de/10014477417
To address the impact of regulation on ethical concerns of consumers, we study the example of minimum wages. In our experimental market, consumers have monopsony power, firms set prices and wages, and workers are passive recipients of a wage payment. We find that the majority of consumers...
Persistent link: https://www.econbiz.de/10012236843
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
This paper presents an experiment on a coordination game with extrinsic random signals, in which we systematically vary …
Persistent link: https://www.econbiz.de/10011596121
This paper develops a theory in which heterogeneity in political preferences produces a partisan disagreement about … objective facts. A political decision involving both idiosyncratic preferences and scientific knowledge is considered. Voters … voters' intrinsic preferences or because of rigidities in the political process. The theory predicts that providing mixed …
Persistent link: https://www.econbiz.de/10011899691
them. Through a pre-registered and theory-guided laboratory experiment, we provide evidence that such reciprocal …
Persistent link: https://www.econbiz.de/10014476792