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Naïve learning in social networks with random communication

Heidergott, Bernd; Huang, Jiaping; Lindner, Ines - 2018

We study social learning in a social network setting where agents receive independent noisy signals about the truth. Agents naïvely update beliefs by repeatedly taking weighted averages of neighbors' opinions. The weights are fixed in the sense of representing average frequency and intensity of...

Persistent link: https://www.econbiz.de/10011801379

Diffusion of behavior in network games orchestrated by social learning

Huang, Jiaping; Koster, Maurice; Lindner, Ines - 2013

The novelty of our model is to combine models of collective action on networks with models of social learning. Agents are connected according to an undirected graph, the social network, and have the choice between two actions: either to adopt a new behavior or technology or stay with the default...

Persistent link: https://www.econbiz.de/10010227321

More hedging instruments may destablize markets

Brock, William A.; Hommes, Cars H.; Wagener, Florian … - 2008

This paper formalizes the idea that more hedging instruments may destabilize markets when traders are heterogeneous and adapt their behavior according to experience based reinforcement learning. We investigate three different economic settings, a simple mean-variance asset pricing model, a...

Persistent link: https://www.econbiz.de/10011349702

The self-perception theory vs. a dynamic learning model

Swank, Otto H. - 2006

motivation may undermine intrinsic motivation. The self-perception (SP) theory developed by Bem (1972) explains this finding. The … crux of this theory is that people remember their past decisions and the extrinsic rewards they received, but they do not … recall their intrinsic motives. In this paper I show that the SP theory can be modeled as a variant of a conventional dynamic …

Persistent link: https://www.econbiz.de/10011349711

Bubbles, crashes and information contagion in large-group asset market experiments

Hommes, Cars H.; Kopányi-Peuker, Anita; Sonnemans, Joep - 2019

We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants) and large markets (about 100 participants). In...

Persistent link: https://www.econbiz.de/10011979625

Bubble formation and (in)efficient markets in learning-to-forecast and -optimise experiments

Te, Bao; Hommes, Cars H.; Makarewicz, Tomasz - 2015

This experiment compares the price dynamics and bubble formation in an asset market with a price adjustment rule in three treatments where subjects (1) submit a price forecast only, (2) choose quantity to buy/sell and (3) perform both tasks. We find deviation of the market price from the...

Persistent link: https://www.econbiz.de/10011333057

Decision and strategies in a sequential search experiment

Sonnemans, Joep - 1997

The strategy method is becoming an important tool in experimentalmethodology. This study examines how well this method works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice solving the problem andformulating strategies, they play...

Persistent link: https://www.econbiz.de/10011283474

Deliberation, information aggregation and collective decision making

Swank, Otto H.; Wrasai, Phongthorn - 2003

We study a model of collective decision making with endogenous information collection.Agents collect information about the consequences of a project, communicate, and then vote onthe project. We examine under what conditions communication may increase the probability thatgood decisions are made....

Persistent link: https://www.econbiz.de/10011325966

Learning, forecasting and optimizing : an experimental study

Te, Bao; Duffy, John; Hommes, Cars H. - 2012

Persistent link: https://www.econbiz.de/10010191021

Behavioral learning equilibria

Hommes, Cars H.; Zhu, Mei - 2013

Persistent link: https://www.econbiz.de/10010191433

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