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Loss aversion and learning to bid
Dittrich, Dennis Alexis Valin; Güth, Werner; Kocher, Martin - Max-Planck-Institut für Ökonomik <Jena> - Abteilung … - 2005
Bidding challenges learning theories since experiences with the same bid vary stochastically:the same choice can result … learning theories. Our experimental results suggest that a version of reinforcementlearning which accounts for loss aversion …
Persistent link: https://www.econbiz.de/10005866949
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The Minority of Three-Game: An Experimental and Theoretical Analysis
Chmura, Thorsten; Güth, Werner; Pitz, Thomas; … - Wirtschaftswissenschaftliche Fakultät, … - 2010
decision rules, and that only a quarter of them decide according to the toss of a fair coin. Reinforcement learning is the most …
Persistent link: https://www.econbiz.de/10008671388
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The minority of three-game: An experimental and theoretical analysis
Chmura, Thorsten; Güth, Werner; Pitz, Thomas; … - 2010
decision rules, and that only a quarter of them decide according to the toss of a fair coin. Reinforcement learning is the most …
Persistent link: https://www.econbiz.de/10010281623
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Who Cares When Value (Mis)Reporting May Be Found Out? An Acquiring-a-Company Experiment with Value Messages and Information Leaks
Di Cagno, Daniela; Güth, Werner; Lohse, Tim; Marazzi, … - 2023
We modify the Acquiring-a-Company game to study lying in ultimatum bargaining. Privately informed sellers send messages about the alleged value of their company to potential buyers. Via random information leaks, buyers can learn the true value before proposing a price which the seller finally...
Persistent link: https://www.econbiz.de/10014377381
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The minority of three-game: an experimental and theoretical analysis
Chmura, Thorsten; Güth, Werner; Pitz, Thomas; … - 2010
decision rules, and that only a quarter of them decide according to the toss of a fair coin. Reinforcement learning is the most … ; Mixed strategy ; Learning models ; Experiments …
Persistent link: https://www.econbiz.de/10008689027
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Who Cares When Value (Mis)Reporting May Be Found Out? An Acquiring-a-Company Experiment with Value Messages and Information Leaks
Di Cagno, Daniela; Güth, Werner; Lohse, Tim; Marazzi, … - 2023
We modify the Acquiring-a-Company game to study lying in ultimatum bargaining. Privately informed sellers send messages about the alleged value of their company to potential buyers. Via random information leaks, buyers can learn the true value before proposing a price which the seller finally...
Persistent link: https://www.econbiz.de/10014354913
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Loss Aversion and Learning to Bid
Dittrich, Dennis Alexis Valin - 2009
Bidding challenges learning theories, since with the same bid, experiences vary stochastically: the same choice can … experienced-weighted attraction model. Our experimental results suggest that individual learning dynamics are highly heterogeneous …
Persistent link: https://www.econbiz.de/10013155297
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Who Cares When Value (Mis)reporting May Be Found Out?
di Cagno, Daniela Teresa; Güth, Werner; Lohse, Tim; … - 2022
In an ultimatum bargaining, we investigate lying as falsely stating what one privately knows without, however, excluding that others find out the truth. Specifically, we modify the Acquiring-a-Company game. Privately informed sellers send messages about the alleged value of their company to...
Persistent link: https://www.econbiz.de/10013307087
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Who cares when value (mis)reporting may be found out? : an acquiring-a-company experiment with value messages and information leaks
Di Cagno, Daniela; Güth, Werner; Lohse, Tim; Marazzi, … - 2023
We modify the Acquiring-a-Company game to study lying in ultimatum bargaining. Privately informed sellers send messages about the alleged value of their company to potential buyers. Via random information leaks, buyers can learn the true value before proposing a price which the seller finally...
Persistent link: https://www.econbiz.de/10014265847
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An experimental analysis of bounded rationality: Applying insights from behavioral economics to information systems
Brecht, Franziska; Günther, Oliver; Güth, Werner; … - Wirtschaftswissenschaftliche Fakultät, … - 2011
The paradigm of bounded rationality considers the limited ability of individuals to make consistent and rational choices. Due to the scarcity of research on this phenomenon in information systems, we conducted an experimental study investigating decision-making regarding risk preferences and...
Persistent link: https://www.econbiz.de/10009391903