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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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Can we manage first impressions in cooperation problems? An experimental study on "Broken (and Fixed) Windows"
Engel, Christoph; Kube, Sebastian; Kurschilgen, Michael - 2011
Cooperation problems are at the heart of many everyday situations. In this paper, we propose a very simple and light-handed mechanism to sustain cooperation and test its performance in a rich laboratory environment. The mechanism moderates cooperation by controlling experiences, more...
Persistent link: https://www.econbiz.de/10010281841
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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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Can we manage first impressions in cooperation problems? : an experimental study on "Broken (and Fixed) Windows"
Engel, Christoph; Kube, Sebastian; Kurschilgen, Michael - 2011
Cooperation problems are at the heart of many everyday situations. In this paper, we propose a very simple and light-handed mechanism to sustain cooperation and test its performance in a rich laboratory environment. The mechanism moderates cooperation by controlling experiences, more...
Persistent link: https://www.econbiz.de/10009007141
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Repeated Experience and Consistent Risk Preferences
Charness, Gary; Chemaya, Nir - 2023
experience and learning can yield more stable outcomes and provide a more accurate representation of individual risk preferences …
Persistent link: https://www.econbiz.de/10014350808
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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