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Learning Direction Theory and the Winner s Curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - 2001
We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an unknown value. A winner’s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can account for this. However, other influences on...
Persistent link: https://www.econbiz.de/10010317651
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Learning Direction Theory and the Winner’s Curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - University of Bonn, Germany - 2001
We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an unknown value. A winner’s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can account for this. However, other influences on...
Persistent link: https://www.econbiz.de/10004989615
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Learning Direction Theory and the Winner’s Curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - In: Experimental Economics 8 (2005) 1, pp. 5-20
We report an experiment on a decision task by Samuelson and Bazerman (1985). Subjects submit a bid for an item with an unknown value. A winner’s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can account for this. However, other influences on...
Persistent link: https://www.econbiz.de/10005711678
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Learning direction theory and the winners curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - 2001
We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an unknown value. A winner s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can account for this. However, other influences on...
Persistent link: https://www.econbiz.de/10011539130
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Learning direction theory and the winner's curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - In: Experimental economics : a journal of the Economic … 8 (2005) 1, pp. 5-20
Persistent link: https://www.econbiz.de/10002900495
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Learning Direction Theory and the Winner#8217s Curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - In: Experimental economics : a journal of the Economic … 8 (2005) 1, pp. 5-20
Persistent link: https://www.econbiz.de/10006017052
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Learning direction theory and the winners curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - 2001
Persistent link: https://www.econbiz.de/10013430409