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Hanaki, Nobuyuki; Magnus, Jan R.; Yoo, Donghoon - 2021

Common sense is a dynamic concept and it is natural that our (statistical) common sense lags behind the development of statistical science. What is not so easy to understand is why common sense lags behind as much as it does. We conduct a survey among Japanese students and try to understand why...

Persistent link: https://www.econbiz.de/10012793790

The curse of knowledge increases self-selection into competition: Experimental evidence

Danz, David - 2014

-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative …

Persistent link: https://www.econbiz.de/10010397879

Negotiation under the curse of knowledge

Pierrot, Thibaud - 2019

negotiation situations. We report the results of a laboratory experiment that was designed to isolate the effect of the curse of …

Persistent link: https://www.econbiz.de/10012141849

Price bubbles sans dividend anchors: Evidence from laboratory stock markets

Hirota, Shinichi; Sunder, Shyam - 2005

We experimentally explore how investor decision horizons influence the formation of stock prices. We find that in long-horizon sessions, where investors collect dividends till maturity, prices converge to the fundamental levels derived from dividends through backward induction. In short-horizon...

Persistent link: https://www.econbiz.de/10010332266

Aggregation and convergence in experimental general equilibrium economies constructed from naturally occurring preferences

Crockett, Sean; Friedman, Daniel; Oprea, Ryan - 2017

Prior laboratory experiments have studied general equilibrium economies constructed from "induced preferences" for artificial goods. We introduce new methods that allow us to study economies constructed instead from subjects' actual, "homegrown" preferences. Our subjects reveal their preferences...

Persistent link: https://www.econbiz.de/10011763083

Portfolio inertia under ambiguity

Asano, Takao - 2004

We consider individual's portfolio selection problems. Introducing the concept of ambiguity, we show the existence of portfolio inertia under the assumptions that decision maker's beliefs are captured by an inner measure, and that her preferences are represented by the Choquet integral with...

Persistent link: https://www.econbiz.de/10010332296

Everyday econometricians: Selection neglect and overoptimism when learning from others

Barron, Kai; Huck, Steffen; Jehiel, Philippe - 2019

In this paper, we design an investment game which allows us to study the influence of selection when learning from … others. Using the theoretical study of selection neglect in Jehiel (2018) as a guide, we test (i) for the presence of … selection neglect in this investment context, and (ii) some comparative static predictions of the model. We find strong evidence …

Persistent link: https://www.econbiz.de/10011984926

Experiments on risk attitude: The case of Chinese students

Sasaki, Shunichiro; Xie, Shiyu; Ohtake, Fumio; Qin, Jie; … - 2006

subjects were more risk averse in the buying experiment than in the selling experiment, suggesting the endowment effect. In the … selling experiment, subjects were risk loving when there was a low win probability and risk averse with a high win probability …, whereas they were risk averse in the buying experiment. Using the prize money won during the experiment as a measure of wealth …

Persistent link: https://www.econbiz.de/10010332238

College admissions and the role of information: An experimental study

Pais, Joana; Pintér, Agnes; Veszteg, Róbert F. - 2008

We analyze two well-known matching mechanisms-the Gale-Shapley, and the Top Trading Cycles (TTC) mechanisms-in the experimental lab in three different informational settings, and study the role of information in individual decision making. Our results suggest that-in line with the theory-in the...

Persistent link: https://www.econbiz.de/10010332350

Difference or ratio: Implication of status preference on stagnation

Ono, Yoshiyasu; Yamada, Katsunori - 2012

specification persistent shortages of aggregate demand and employment can arise. Furthermore, using the data of an experiment of …

Persistent link: https://www.econbiz.de/10010332371

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