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Persistent bias in advice-giving
Chen, Zhuoqiong; Gesche, Tobias - 2016
We show that a one-off incentive to bias advice has a persistent effect on advisers' own actions and their future recommendations. In an experiment, advisers obtained information about a set of three differently risky investment options to advise less informed clients. The riskiest option was...
Persistent link: https://www.econbiz.de/10011663187
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Persistent bias in advice-giving
Chen, Zhuoqiong; Gesche, Tobias - 2017
We show that a one-off incentive to bias advice has persistent effects. In an experiment, some advisers were paid a bonus to recommend a lottery which only risk-seeking individuals should choose to a less informed client. Afterwards, they had to choose for themselves and make a second...
Persistent link: https://www.econbiz.de/10011784286
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Nonparametric learning rules from bandit experiments: The eyes have it!
Hu, Yingyao; Kayaba, Yutaka; Shum, Matt - 2010
(non-Bayesian) reinforcement learning model, than a Bayesian learning model. …How do people learn? We assess, in a distribution-free manner, subjects' learning and choice rules in dynamic two …-armed bandit (probabilistic reversal learning) experiments. To aid in identification and estimation, we use auxiliary measures of …
Persistent link: https://www.econbiz.de/10010277527
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Multiple behavioral rules in Cournot oligopolies
Alós-Ferrer, Carlos; Ritschel, Alexander - 2019
We show that economic decisions in strategic settings are co-determined by multiple behavioral rules. A simple model of intra-individual behavioral heterogeneity predicts testable differences depending on whether rules share a common prescription (alignment) or not (conflict), a classification...
Persistent link: https://www.econbiz.de/10012056814
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Individual characteristics and behavior in repeated games: An experimental study
Davis, Douglas; Ivanov, Asen; Korenok, Oleg - 2014
Using a laboratory experiment, we investigate whether a variety of behaviors in repeated games are related to an array of individual characteristics that are popular in economics: risk attitude, time preference, trust, trustworthiness, altruism, strategic skills in one-shot matrix games,...
Persistent link: https://www.econbiz.de/10011381009
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An externality-robust auction: Theory and experimental evidence
Bartling, Björn; Netzer, Nick - 2015
Behavioral robustness is essential in mechanism design. Existing papers focus on robustness as captured by dominant strategies. This paper studies the novel concept of externality-robustness, which addresses players' motives to affect other players' monetary payoffs. One example is externalities...
Persistent link: https://www.econbiz.de/10011420575
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Market experience is a reference point in judgments of fairness
Herz, Holger; Taubinsky, Dmitry - 2013
People's desire for fair transactions can play an important role in negotiations, organizations, and markets. In this paper, we show that markets can also shape what people consider to be a fair transaction. We propose a simple and generally-applicable model of path-dependent fairness...
Persistent link: https://www.econbiz.de/10010333105
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An externality-robust auction: Theory and experimental evidence
Bartling, Björn; Netzer, Nick - 2016
Behavioral robustness is essential in mechanism design. Existing papers focus on robustness as captured by dominant strategies. This paper studies the novel concept of externality-robustness, which addresses players' motives to affect other players' monetary payoffs. One example is externalities...
Persistent link: https://www.econbiz.de/10011663164
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The influences of social context on the measurement of distributional preferences
Greiff, Matthias; Ackermann, Kurt A.; Murphy, Ryan O. - 2016
Different social contexts have been used when measuring distributional preferences. This could be problematic as contextual variance may inadvertently muddle the measurement process. We use a within-subjects design and measure distributional preferences in resource allocation tasks with role...
Persistent link: https://www.econbiz.de/10011663183
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Does the absence of human sellers bias bidding behavior in auction experiments?
Bartling, Björn; Gesche, Tobias; Netzer, Nick - 2016
This paper studies the impact of the presence of human subjects in the role of a seller on bidding in experimental second-price auctions. Overbidding is a robust finding in second- price auctions, and spite among bidders has been advanced as an explanation. If spite extends to the seller, then...
Persistent link: https://www.econbiz.de/10011663184