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Is more information always better? Experimental financial markets with asymmetric information
Huber, Jürgen; Kirchler, Michael; Sutter, Matthias - Universität <Innsbruck> / Sozial- und …; … - 2004
We study the value of information in financial markets by asking whether having more information always leads to higher … returns. We address this question in an experiment where single traders have different information levels about an asset …’s intrinsic value. In our treatments we vary the nature of the information and the trading mechanism. We find that only the very …
Persistent link: https://www.econbiz.de/10005866871
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Financial Market in the Laboratory, anExperimental Analysis of some Stylized Facts
Morone, Andrea - Max-Planck-Institut für Ökonomik <Jena> - Abteilung … - 2005
. By means of a laboratory experiment, we will investigate the effect of quantity and quality of information,present in a … financial market, upon its stylized facts, showing how both quality and quantity of information might havean impact on …
Persistent link: https://www.econbiz.de/10005866822
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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 in either a gain or a loss. In such an environment thequestion arises how the nearly universally documented phenomenon of loss aversion affectsthe adaptive dynamics. We analyze...
Persistent link: https://www.econbiz.de/10005866949
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On the Acceptance of Apologies
Fischbacher, Urs; Utikal, Verena - Thurgauer Wirtschaftsinstitut <Kreuzlingen> - 2010
An apology is a strong and cheap device to restore social or economic relationships thathave been disturbed. In a laboratory experiment we find that harmdoers use apologies inparticular if they fear punishment and when their intentions cannot be easily inferred. Afteroffenses with ambiguous...
Persistent link: https://www.econbiz.de/10009302678
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On the Absorbability of the Guessing Game Theory -A Theoretical and Experimental Analysis
Morone, Andrea; Sandri, Serena; Uske, Tobias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972)and further elaborated by Güth and Kliemt (2004), discusses the problem whether atheory can survive its own acceptance. Whereas this holds for strategic equilibria accordingto the assumptions on which they are based,...
Persistent link: https://www.econbiz.de/10005866646
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Signaling with Performance and the Effect of Competition
Suzuki, Toru - Max-Planck-Institut zur Erforschung von … - 2010
Candidates compete to persuade a decision maker. The decision maker wishes toselect a candidate who possesses a certain ability. Then, as a signaling, each candidatedecides whether to perform a task whose performance statistically re‡ects the ability.However, since the cost of the performance...
Persistent link: https://www.econbiz.de/10009248917
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I will survive! Gender discrimination in a household saving decisions experiment
Büchner, Susanne; Dittrich, Dennis A. V. - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2002
We investigate the gender specific inter-temporal allocation behavior ofspouses with different deterministic life expectations in an experimentwhere the gender of one's partner is known. In each period of theirlife both partners propose a consumption level one of which is thenrandomly...
Persistent link: https://www.econbiz.de/10005867075
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Interpersonal allocation behavior in a household savings experiment
Anderhub, Vital; Dittrich, Dennis; Güth, Werner; … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
We investigate the intertemporal and interpersonal allocation behavior ofspouses with different deterministic life expectations in an experiment. In eachperiod of their life both partners propose a consumption level one of which isthen randomly implemented. In spite of the complex dynamics...
Persistent link: https://www.econbiz.de/10005867110
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The investment game with asymmetric information
Coricelli, Giorgio; González Morales, Luis G.; … - 2003
We analyze the effects of introducing asymmetric information and expectations in the investment game (Berg et al., 1995 …
Persistent link: https://www.econbiz.de/10005845178
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Noisy leadership: An experimental approach
Güth, Werner; Müller, Wieland; Spiegel, Yossi - Max-Planck-Institut zur Erforschung von … - 2002
We examine the strategic behavior of leaders and followers in sequential duopoly experiments in which followers either perfectly observe the leaders' actions or else observe nothing. (...)
Persistent link: https://www.econbiz.de/10005845209