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There are many important decision problems where learning through experimentation is costly or impossible. In these situations, individuals may try to learn from observing the outcomes of others who have made similar decisions. Often, however, information about others comprises a selected...
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external factors if they fail. They are too easily dissatisfied with their environment, which leads them to experiment in …
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We study a model of task completion with the opportunity to learn about own self-control problems over time. While the agent is initially uncertain about her future self-control, in each period she can choose to learn about it by paying a non-negative learning cost and spending one period. If...
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We investigate experimentally whether social learners appreciate the redundancy of information conveyed by their observed predecessors' actions. Each participant observes a private signal and enters an estimate of the sum of all earlier-moving participants' signals plus her own. In a first...
Persistent link: https://www.econbiz.de/10011899219
We demonstrate in a laboratory experiment in which subjects play a two-player Cournot-Tullock game over hundreds of …
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experiment. We ask subjects to design strategies that will play in their place. We find that eliciting strategies has negligible …
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