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Are Expectations Formed by the Anchoring-and-adjustment Heuristic? – An Experimental Investigation
Roos, Michael W. M.; Luhan, Wolfgang J. - 2008
Previous experimental investigations have shown that expectations are not perfectly rational due to bias. Traditional adaptive models, however, in many cases do not perfectly describe the formation of expectations either. This paper makes two contributions to the experimental literature on the...
Persistent link: https://www.econbiz.de/10010264725
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The curse of knowledge increases self-selection into competition: Experimental evidence
Danz, David - 2014
The psychology literature provides ample evidence that people have difficulties taking the perspective of less informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...
Persistent link: https://www.econbiz.de/10010396967
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The curse of knowledge increases self-selection into competition: Experimental evidence
Danz, David - 2014
The psychology literature provides ample evidence that people have difficulties taking the perspective of less-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader...
Persistent link: https://www.econbiz.de/10010397879
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Honestly, why are you donating money to charity? An experimental study about self-awareness in status- seeking behavior
Kataria, Mitesh; Regner, Tobias - 2012
treatment. After the real effort task subjects were asked to state their retrospective beliefs about their performance in public …
Persistent link: https://www.econbiz.de/10010291831
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Correlation Neglect in Belief Formation
Enke, Benjamin; Zimmermann, Florian - 2013
and treat correlated information as independent. In consequence, people's beliefs are excessively sensitive to well …-connected information sources, implying a pattern of overshooting beliefs. Additionally, in an experimental asset market, correlation …
Persistent link: https://www.econbiz.de/10010328793
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Correlation Neglect in Belief Formation
Enke, Benjamin; Zimmermann, Florian - 2013
and treat correlated information as independent. In consequence, people’s beliefs are excessively sensitive to well …-conncected information sources, implying a pattern of “overshooting” beliefs. Additionally, in an experimental asset market, correlation …
Persistent link: https://www.econbiz.de/10010312978
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Correlation Neglect in Belief Formation
Enke, Benjamin; Zimmermann, Florian - 2013
and treat correlated information as independent. In consequence, people's beliefs are excessively sensitive to well …-connected information sources, implying a pattern of overshooting beliefs. Additionally, in an experimental asset market, correlation …
Persistent link: https://www.econbiz.de/10010319432
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Other-regarding behaviour: Testing guilt- and reciprocity-based models
Regner, Tobias; Harth, Nicole S. - 2010
beliefs and actions into the utility function. We test the robustness of two types of intentions-based models (guilt aversion … and reciprocity). In addition to incentivised elicitation of first- and second-order action beliefs, we assess … intentions-based models. Both second-order beliefs and the weighting factor that depends on a participant's sensitivity to guilt …
Persistent link: https://www.econbiz.de/10010281670
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On the complexity of forming mental models
Kendall, Chad; Oprea, Ryan - In: Quantitative Economics 15 (2024) 1, pp. 175-211
complexity metrics, we find that all three patterns are well organized by metrics suggested by Lipman (1995) and Gabaix (2014 …
Persistent link: https://www.econbiz.de/10014536981
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Everyday econometricians: Selection neglect and overoptimism when learning from others
Barron, Kai; Huck, Steffen; Jehiel, Philippe - 2019
In this paper, we design an investment game which allows us to study the influence of selection when learning from others. Using the theoretical study of selection neglect in Jehiel (2018) as a guide, we test (i) for the presence of selection neglect in this investment context, and (ii) some...
Persistent link: https://www.econbiz.de/10011984926