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student ability distribution and across region, with the most pronounced increases in competition being found among higher … in response to the growth in competition. We also discuss the theoretical implications of increased competition on longer …-term measures of learning and achievement and attempt to test them empirically; the evidence and related literature, while limited …
Persistent link: https://www.econbiz.de/10012463379
investigate this claim using a simple model of Bayesian learning. Two individuals with different priors observe the same infinite … behavior in a range of circumstances. We illustrate how the type of learning outlined in this paper interacts with economic …
Persistent link: https://www.econbiz.de/10012466013
We analyze the behavior of game-show contestants who play a one-shot game called Friend or Foe. While it is a weakly dominant strategy not to cooperate, almost half the contestants on the show choose to play friend.' Remarkably, the behavior of contestants remains unchanged even when stakes are...
Persistent link: https://www.econbiz.de/10012468893
We explore a model of non-Bayesian information aggregation in networks. Agents non-cooperatively choose among Friedkin-Johnsen type aggregation rules to maximize payoffs. The DeGroot rule is chosen in equilibrium if and only if there is noiseless information transmission...leading to consensus....
Persistent link: https://www.econbiz.de/10013190991
main organizing principle behind various salient features of contemporary political competition, including individual …
Persistent link: https://www.econbiz.de/10014372458
leads to the overweighting of unlikely but salient events--the dominant force when learning from simultaneous information …--whereas imperfect recall leads to the underweighting of such events--the dominant force when learning sequentially. A series of studies … show that, when learning from simultaneous information, people are overoptimistic about and are attracted to assets that …
Persistent link: https://www.econbiz.de/10014486240
How quickly does marginal utility fall with increasing consumption? It depends on the dimension along which we consider concavity of the utility function. This paper estimates the distribution of heterogeneous curvature parameters in individuals' utility functions from hypothetical choice data,...
Persistent link: https://www.econbiz.de/10014468277
The influence of behavioral biases on aggregate outcomes like prices and allocations depends in part on self-selection: whether rational people opt more strongly into aggregate interactions than biased individuals. We conduct a series of betting market, auction and committee experiments using 15...
Persistent link: https://www.econbiz.de/10013334479
to bigger gains in expected revenue than increasing competition through inclusion. Our model of superiority …
Persistent link: https://www.econbiz.de/10013361988
a framework that combines two systems, namely "model-free" and "model-based" learning. We import this framework into a …
Persistent link: https://www.econbiz.de/10014247999