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This study uses the methods of experimental economics to investigate possible reasons for the lack of empirical support for the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are large enough, producers may choose to (partially) ignore the dynamic component...
Persistent link: https://www.econbiz.de/10010340880
-round strategy method experiment to directly elicit people's strategies. Between rounds participants can adjust their strategy and … experiment are subjected to an evolutionary competition. The strategies people use are very heterogeneous although aggregate …
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experiment, we study the endowment effect in lotteries with the same payoffs as the games in the first part. Our findings provide …
Persistent link: https://www.econbiz.de/10011339153
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experiment, we study the endowment effect in lotteries with the same payoffs as the games in the first part. Our findings provide …
Persistent link: https://www.econbiz.de/10013014082
works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice …
Persistent link: https://www.econbiz.de/10011283474
verdict. In this experiment we examine the relationship between evidence of which the strength is known, subjective …
Persistent link: https://www.econbiz.de/10011377092
Persistent link: https://www.econbiz.de/10003850863
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