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In a market with stochastic demand at most one seller can acquire costly information about demand. Other sellers entertain idiosyncratic beliefs about the market demand and whether there exists an informed seller. These idiosyncratic beliefs co-evolve with the potential insider's inclination to...
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This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show … low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision … behaviour ; decision-making experiments …
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A general framework is described specifying how boundedly rational decision makers generate their choices. Starting … new decision routines (by applying "New Problem Solver"). Our admittedly bold attempt is loosely related to some stylized …
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