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Enke, Benjamin; Zimmermann, Florian - Institute for the Study of Labor (IZA) - 2013

Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...

Persistent link: https://www.econbiz.de/10010706055

Correlation Neglect in Belief Formation

Enke, Benjamin; Zimmermann, Florian - CESifo - 2013

Persistent link: https://www.econbiz.de/10010718532

Nonparametric learning rules from bandit experiments: The eyes have it!

Hu, Yingyao; Kayaba, Yutaka; Shum, Matthew - In: Games and Economic Behavior 81 (2013) C, pp. 215-231

experiment. A novel feature of our approach is to supplement the choice and reward data with subjectsʼ eye movements during the … experiment to pin down estimates of subjectsʼ beliefs. Estimates show that subjects are more reluctant to “update down” following … rules are smaller (by about 25% of average earnings by subjects in this experiment) than what would be obtained from a fully …

Persistent link: https://www.econbiz.de/10011049849

Relative performance information in asset markets: An experimental approach

Schoenberg, Eric J.; Haruvy, Ernan - In: Journal of Economic Psychology 33 (2012) 6, pp. 1143-1155

An important issue in the study of asset market bubbles is the extent to which traders are influenced by their perceived performance relative to other traders. Extant research on laboratory asset market bubbles has generally kept performance information private, effectively excluding such...

Persistent link: https://www.econbiz.de/10011051392

Learning, Generalization and the Perception of Information: an Experimental Study

Novarese, Marco; Lanteri, Alessandro; Tibaldeschi, Cesare - Volkswirtschaftliche Fakultät, … - 2010

This article experimentally explores the way in which human agents learn how to process and manage new information. In an abstract setting, players should perform an everyday task: selecting information, making generalizations, distinguishing contexts. The tendency to generalize is common to all...

Persistent link: https://www.econbiz.de/10008788790

Does self-relevance affect information processing? Experimental evidence on the response to performance and non-performance feedback

Ertac, Seda - In: Journal of Economic Behavior & Organization 80 (2011) 3, pp. 532-545

-image. This paper uses an experiment to explore whether the self-relevance of information influences information processing. The … experiment implements two information processing tasks that are identical from a theoretical perspective, but differ in the type …

Persistent link: https://www.econbiz.de/10010576946

Correlation Neglect in Belief Formation

Enke, Benjamin; Zimmermann, Florian - University of Bonn, Germany - 2013

Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such context many people neglect these correlations in the updating process and treat correlated information as independent. In...

Persistent link: https://www.econbiz.de/10010895827

An Experimental Test of a Committee Search Model

Hizen, Yoichi; Kawata, Keisuke; Sasaki, Masaru - Institute for the Study of Labor (IZA) - 2012

The objective of this paper is to design a laboratory experiment for an infinite-horizon sequential committee search …

Persistent link: https://www.econbiz.de/10010884170

Individual learning: theory formation, and feedback in a complex task

Novarese, Marco; Lanteri, Alessandro - Volkswirtschaftliche Fakultät, … - 2007

We present an experiment for the study of learning in a complex task which requires both memorisation and the ability … the end of the experiment) the subjects start refining them to include a larger subset of the information, this causes …

Persistent link: https://www.econbiz.de/10005790147

How Certain Is the Uncertainty Effect?

Rydval, Ondrej; Ortmann, Andreas; Prokosheva, Sasha; … - Center for Economic Research and Graduate Education and … - 2009

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so-called uncertainty effect, namely, that people value a binary lottery over non-monetary outcomes less than other people value the lottery’s worse outcome. While the authors implemented a verbal...

Persistent link: https://www.econbiz.de/10008528422