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Shunning uncertainty: The neglect of learning opportunities
Trautmann, Stefan T.; Zeckhauser, Richard J. - In: Games and Economic Behavior 79 (2013) C, pp. 44-55
Financial, managerial, and medical decisions often involve alternatives whose possible outcomes have uncertain probabilities. In contrast to alternatives whose probabilities are known, these uncertain alternatives offer the benefits of learning. In repeat-choice situations, such learning brings...
Persistent link: https://www.econbiz.de/10011049682
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Bidding in private-value auctions with uncertain values
McGee, Peter - In: Games and Economic Behavior 82 (2013) C, pp. 312-326
auctions with uncertainty over final values in this experiment resulted in 18% and 27% of bids above the expected value of the … item in private-value first-price and English auctions, respectively. Risk-seeking preferences as measured on an individual … decision task cannot explain overbidding and the first-price auction results suggest that risk aversion may not be a good …
Persistent link: https://www.econbiz.de/10011049854
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Which hat to wear? Impact of natural identities on coordination and cooperation
Chen, Yan; Li, Sherry Xin; Liu, Tracy Xiao; Shih, Margaret - In: Games and Economic Behavior 84 (2014) C, pp. 58-86
effectively is a major challenge facing organizations. In an experiment conducted at a large public university in the United …
Persistent link: https://www.econbiz.de/10010753431
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Behavioral spillovers and cognitive load in multiple games: An experimental study
Bednar, Jenna; Chen, Yan; Liu, Tracy Xiao; Page, Scott - In: Games and Economic Behavior 74 (2012) 1, pp. 12-31
We present evidence from laboratory experiments of behavioral spillovers and cognitive load that spread across strategic contexts. In the experiments, subjects play two distinct games simultaneously with different opponents. We find that the strategies chosen and the efficiency of outcomes in...
Persistent link: https://www.econbiz.de/10010597542
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On the acceptance of apologies
Fischbacher, Urs; Utikal, Verena - In: Games and Economic Behavior 82 (2013) C, pp. 592-608
laboratory experiment in which apologies emerge endogenously, we find that harmdoers use apologies in particular if they fear …
Persistent link: https://www.econbiz.de/10010719487
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Profit-seeking punishment corrupts norm obedience
Xiao, Erte - In: Games and Economic Behavior 77 (2013) 1, pp. 321-344
become revenue for authorities and thus motivate profit-seeking punishment. In this paper, we design a novel experiment to …
Persistent link: https://www.econbiz.de/10011049700
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Identities, selection, and contributions in a public-goods game
Charness, Gary; Cobo-Reyes, Ramón; Jiménez, Natalia - In: Games and Economic Behavior 87 (2014) C, pp. 322-338
considerations. We conduct a public-goods experiment in which we permit endogenous group-formation. In a 2×2 design, we vary whether …
Persistent link: https://www.econbiz.de/10011049776
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Incentives and group identity
Masella, Paolo; Meier, Stephan; Zahn, Philipp - In: Games and Economic Behavior 86 (2014) C, pp. 12-25
This paper investigates in a principal–agent environment whether and how group membership influences the effectiveness of incentives and when incentives can have “hidden costs”, i.e., a detrimental effect. We show experimentally that in all interactions control mechanisms can have hidden...
Persistent link: https://www.econbiz.de/10011049787
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Impulse balance in the newsvendor game
Ockenfels, Axel; Selten, Reinhard - In: Games and Economic Behavior 86 (2014) C, pp. 237-247
One striking behavioral phenomenon is the “pull-to-center” bias in the newsvendor game: facing stochastic demand, subjects tend to order quantities between the expected profit maximizing quantity and mean demand. We show that the impulse balance equilibrium, which is based on a simple...
Persistent link: https://www.econbiz.de/10011049800
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A dynamic Ellsberg urn experiment
Dominiak, Adam; Duersch, Peter; Lefort, Jean-Philippe - In: Games and Economic Behavior 75 (2012) 2, pp. 625-638
behaviorally the link between conditional and unconditional preferences. To test the descriptive validity of these rationality … concepts, we conduct a dynamic extension of Ellsbergʼs 3-color experiment. We find that more subjects act in line with …
Persistent link: https://www.econbiz.de/10011049819