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Persistent link: https://www.econbiz.de/10004877675
We investigate the "law of small numbers" using a unique panel data set on lotto gambling. Because we can track …
Persistent link: https://www.econbiz.de/10008925716
We investigate the "law of small numbers" using a unique panel data set on lotto gambling. Because we can track …
Persistent link: https://www.econbiz.de/10011091239
Persistent link: https://www.econbiz.de/10004079824
In laboratory experiments we explore the effects of communication and group decision making on investment behavior and on subjects’ proneness to behavioral biases. Most importantly, we show that communication and group decision making does not impact subjects’ overall proneness to biases...
Persistent link: https://www.econbiz.de/10010889828
The "gambler's fallacy" is the belief that the probability of an event is lowered when that event has recently occurred, even though the probability of the event is objectively known to be independent from one trial to the next. This paper provides evidence on the time pattern of lottery...
Persistent link: https://www.econbiz.de/10009192003
We present an experiment on strategic thinking and behavior of individuals and teams in one-shot normal-form games …
Persistent link: https://www.econbiz.de/10008599222
Many important decisions require strategic sophistication. We examine experimentally whether teams act more strategically than individuals. We let individuals and teams make choices in simple games, and also elicit first- and second-order beliefs. We find that teams play the Nash equilibrium...
Persistent link: https://www.econbiz.de/10010729788
We present an experiment on strategic thinking and behavior of individuals and teams in oneshot normal-form games …
Persistent link: https://www.econbiz.de/10008543208
, compete for a prize there is a need for intra-team coordination in order to win the inter-team competition. Introducing … reducing efforts. In our experiment we control the channels of communication by letting subjects communicate through an … efforts. We use team members? dialogues to explain these effects of communication, and check the robustness of our results. …
Persistent link: https://www.econbiz.de/10005399042