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We study the impact of advice or observation on the depth of reasoning in an experimental beauty-contest game. Both sources of information trigger faster convergence to the equilibrium. Yet, we find that subjects who receive naïve advice outperform uninformed subjects permanently, whereas...
Persistent link: https://www.econbiz.de/10011350357
Persistent link: https://www.econbiz.de/10010249727
We study the impact of advice or observation on the depth of reasoning in an experimental beauty-contest game. Both sources of information trigger faster convergence to the equilibrium. Yet, we find that subjects who receive naive advice outperform uninformed subjects permanently, whereas...
Persistent link: https://www.econbiz.de/10009728176
Persistent link: https://www.econbiz.de/10003422891
Persistent link: https://www.econbiz.de/10003465078
Persistent link: https://www.econbiz.de/10003478465
We utilize a laboratory experiment to compare effort provision under optimal tournament contracts with different …
Persistent link: https://www.econbiz.de/10011337036
and punishment. We test the model s predictions in a laboratory experiment and find that the combination of reward and …
Persistent link: https://www.econbiz.de/10010340563
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012657858
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012607585