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The behavioral impact of emotions in a power to take game : an experimental study

Bosman, Ronald; Winden, Frans A. A. M. van - 1999

nothing) or the highest level of punishment (destroyeverything). (4) Expectations have a significant effect on the … punishment behavior. (3) Thereare discontinuous "jumps" in the behavior of responders. They either chooseno punishment (destroy … probabilityof punishment but not on the intensity of experienced emotion. We explainthis last result in terms of norm …

Persistent link: https://www.econbiz.de/10011301155

Coordination of expectations in asset pricing experiments

Hommes, Cars H.; Sonnemans, Joep; Tuinstra, Jan; … - 2003

We investigate expectation formation in a controlled experimental en-vironment. Subjects are asked to predict the price in a standard asset pricingmodel. They do not have knowledge of the underlying market equilibrium equa-tions, but they know all past realized prices and their own predictions....

Persistent link: https://www.econbiz.de/10011333274

Individual expectations and aggregate macro behavior

Assenza, Tiziana; Heemeijer, Peter; Hommes, Cars H.; … - 2013

Persistent link: https://www.econbiz.de/10010191431

Who can predict their own Demise? : accuracy of longevity expectations by education and cognition

Bago d'Uva, Teresa; Erdogan Ciftci, Esen; O'Donnell, Owen; … - 2015

Biased longevity expectations will lead to suboptimal decisions regarding saving, retirement, annuitization and health …, with consequences for wellbeing in old age. Systematic differences in the accuracy of longevity expectations may partly … veracity of expectations are due to the less educated and cognitively able responding less to changes in objective mortality …

Persistent link: https://www.econbiz.de/10010532122

From self-fulfilling mistakes to behavioral learning equilibria

Hommes, Cars H. - 2017

This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean …-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of …

Persistent link: https://www.econbiz.de/10011590425

A statistical explanation of the Dunning-Kruger effect

Magnus, Jan R.; Peresetsky, Anatoly A. - 2021

An explanation of the Dunning-Kruger effect is provided which does not require any psychological explanation, because it is derived as a statistical artefact. This is achieved by specifying a simple statistical model which explicitly takes the (random) boundary constraints into account. This...

Persistent link: https://www.econbiz.de/10012665994

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

Learning, forecasting and optimizing : an experimental study

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

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

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 …

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

Committees of experts in the lab

Renes, Sander; Visser, Bauke - 2018

Theory predicts that committees of experts may take decisions that look good but are bad and that they show a united front to impress evaluators. Although evaluators see through this behavior, committees persist in it only to avoid worse assessments. We investigate this theory in the lab, using...

Persistent link: https://www.econbiz.de/10011895939

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