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Experimenting with Financial Professionals

Huber, Christoph; König-Kersting, Christian - 2022

generalizability, aim to synthesize the relevant experimental results, and discuss the key methodological considerations in …

Persistent link: https://www.econbiz.de/10014319989

Experiments in finance - A survey of historical trends

Huber, Christoph; Kirchler, Michael - 2022

Experiments can complement other methods in identifying causal relationships and in measuring behavioral deviations from theoretical predictions. While the experimental method has long been central in many scientific disciplines, it was almost nonexistent in finance until the 1980s. To survey...

Persistent link: https://www.econbiz.de/10014319991

Tensions Between the Resource Damage and the Private Benefits of Appropriation in the Commons

Blanco, Esther; Lopez, Maria Claudia; Walker, James M. - 2013

This study examines appropriation decisions in a linear appropriation game setting with variations in the resource damage from appropriation and simultaneous variations in the resource damage and the opportunity cost of conservation, where the ratio of these two variables is held constant. In...

Persistent link: https://www.econbiz.de/10010312229

Appropriation in the commons: variations in the opportunity costs of conservation

Blanco, Esther; Lopez, Maria Claudia; Walker, James M. - 2012

This study examines individual and group behavior in a linear appropriation game setting. Subjects make decisions from a menu of eight games, without feedback. Four treatment conditions vary the magnitude of the opportunity cost of conservation, including symmetric and asymmetric treatments. A...

Persistent link: https://www.econbiz.de/10010312245

The effect of random shocks on reciprocal behavior in dynamic principal-agent settings

Kerschbamer, Rudolf; Oexl, Regine - 2021

Previous work has shown that unobservable random shocks on output have a detrimental effect on effort provision in short-term ('static') employment relationships. Given the prevalence of long-term ('dynamic') relationships in firms, we investigate whether the impact of shocks is similarly...

Persistent link: https://www.econbiz.de/10012873010

Strive to be first or avoid being last: An experiment on relative performance incentives.

Dutcher, E. Glenn; Balafoutas, Loukas; Lindner, Florian; … - 2013

behavior in all mechanisms is consistent with basic directional and reinforcement learning. …

Persistent link: https://www.econbiz.de/10010312236

Confusion and Reinforcement Learning in Experimental Public Goods Games

Bayer, Ralph-C.; Renner, Elke; Sausgruber, Rupert - 2009

. The results show that reinforcement learning leads to dynamics similar to those observed in standard public goods games … explained by reinforcement learning. According to our estimates, learning only accounts for 41 percent of the decay in …, differ strongly from the learning dynamics, while a learning model estimated from the limited information treatment tracks …

Persistent link: https://www.econbiz.de/10010294798

Motivated reasoning, information avoidance, and default bias

Momsen, Katharina; Schneider, Sebastian O. - 2022

We investigate whether the presence of a default interacts with the willingness of decision-makers to gather, process and consider information. In an online experiment, where about 2,300 participants choose between two compiled charity donation options worth $100, we vary the availability of...

Persistent link: https://www.econbiz.de/10014319987

Seller opportunism in credence good markets: The role of market conditions

Momsen, Katharina; Ohndorf, Markus - 2022

We report the results of an experiment to systematically investigate the influence of different settings in credence good markets on opportunism in the sellers' decisions. We find that, as predicted by a cognitive dissonance model, the specific choice of the design features might be less...

Persistent link: https://www.econbiz.de/10014319992

Monetary Policy, Inflation Illusion and the Taylor Principle: An Experimental Study

Luhan, Wolfgang; Scharler, Johann - 2013

We develop a simple experimental setting to evaluate the role of the Taylor principle, which holds that the nominal interest rate has to respond more than one-for-one to fluctuations in the inflation rate. In our setting, the average inflation rate fluctuates around the inflation target if the...

Persistent link: https://www.econbiz.de/10010312239