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Strategic sophistication of individuals and teams in experimental normal-form games
Sutter, Matthias; Czermak, Simon; Feri, Francesco - 2010
We present an experiment on strategic thinking and behavior of individuals and teams in one-shot normal-form games …. Besides making choices, decision makers have to state their first- and second-order beliefs. We find that teams play the Nash …
Persistent link: https://www.econbiz.de/10010269696
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Strategic sophistication of adolescents: Evidence from experimental normal-form games
Czermak, Simon; Feri, Francesco; Rützler, Daniela; … - 2010
We examine the strategic sophistication of adolescents, aged 10 to 17 years, in experimental normal-form games. Besides making choices, subjects have to state their first- and second-order beliefs. We find that choices are more often a best reply to beliefs if any player has a dominant strategy...
Persistent link: https://www.econbiz.de/10010272677
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Social networks
de Martí, Joan; Zenou, Yves - 2009
We survey the literature on social networks by putting together the economics, sociological and physics/applied mathematics approaches, showing their similarities and differences. We expose, in particular, the two main ways of modeling network formation. While the physics/applied mathematics...
Persistent link: https://www.econbiz.de/10010275834
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Deferred Compensation and Gift Exchange : An Experimental Investigation into Multi-Period Labor Markets
Wallace, Brian; Seltzer, Andrew J.; Huck, Steffen - 2004
-period experiment. In equilibrium, firms will offer deferred compensation: first period productivity is positive and wages are zero …, while third period productivity is zero and wages are positive. The experiment produces strong evidence that deferred … computer. Finally, we find that firm players who are initially hesitant to defer compensation learn over time that it is …
Persistent link: https://www.econbiz.de/10010261943
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Mutual monitoring in teams: theory and experimental evidence on the importance of reciprocity
Carpenter, Jeffrey P.; Bowles, Samuel; Gintis, Herbert - 2006
Monitoring by peers is often an effective means of attenuating incentive problems. Most explanations of the efficacy of mutual monitoring rely either on small group size or on a version of the Folk theorem with repeated interactions which requires reasonably accurate public information...
Persistent link: https://www.econbiz.de/10010267388
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Individual responsibility and the funding of collective goods
Lévy-Garboua, Louis; Montmarquette, Claude; Villeval, … - 2007
experiment based on a game in the first stage of which subjects can voluntarily contribute to the funding of a collective good …
Persistent link: https://www.econbiz.de/10010268361
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Incentive effects on risk attitude in small probability prospects
Lefèbvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities … predicted by the prospect theory. But under high stakes, we provide some evidence that risk seeking behavior is dramatically …
Persistent link: https://www.econbiz.de/10010277023
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Incentive Effects on Risk Attitude in Small Probability Prospects
Lefèbvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - Institute for the Study of Labor (IZA) - 2009
prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities … predicted by the prospect theory. But under high stakes, we provide some evidence that risk seeking behavior is dramatically …
Persistent link: https://www.econbiz.de/10008527318
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Choosing the Joneses : Endogenous Goals and Reference Standards
Knell, Markus; Falk, Armin - 2004
A growing economic literature stresses the importance of relative comparisons, e.g., for savings and consumption or happiness. In this literature it is usually assumed that reference standards against which people compare themselves are exogenously given. In contrast findings from social...
Persistent link: https://www.econbiz.de/10010261901
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Social preferences in childhood and adolescence: A large-scale experiment
Sutter, Matthias; Feri, Francesco; Kocher, Martin G.; … - 2010
Social preferences have been shown to be an important determinant of economic decision making for many adults. We … present a large-scale experiment with 883 children and adolescents, aged eight to seventeen years. Participants make decisions … less prominent motivating force of allocation decisions. At the same time, efficiency concerns increase in importance for …
Persistent link: https://www.econbiz.de/10010269867