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second experiment show that more intuitive decision makers rely more often on the “reinforcement heuristic” where successful …We use a 15-item self-report questionnaire known as “Faith in Intuition” to measure reliance on intuitive decision … experiment, we find that higher report scores are associated with an increased use of the representativeness heuristic …
Persistent link: https://www.econbiz.de/10011048217
We examine decision-making under risk and uncertainty in a laboratory experiment. The heart of our design examines how … one’s propensity to use Bayes’ rule is affected by whether this rule is aligned with reinforcement or clashes with it …. In some cases, we create environments where Bayesian updating after a successful outcome should lead a decision-maker to …
Persistent link: https://www.econbiz.de/10011131650
This paper models an agent in a three-period setting who does not update according to Bayes'Rule, and who is self-aware and anticipates her updating behavior when formulating plans. The agent is rational in the sense that her dynamic behavior is derived from a single stable preference order on a...
Persistent link: https://www.econbiz.de/10005200779
This paper models an agent in a three-period setting who does not update according to Bayes'Rule, and who is self-aware and anticipates her updating behavior when formulating plans. The agent is rational in the sense that her dynamic behavior is derived from a single stable preference order on a...
Persistent link: https://www.econbiz.de/10005504009
. This paper discusses scholarly psychological literature on the representativeness heuristic, overconfidence, attentional …
Persistent link: https://www.econbiz.de/10005464061
results in a wider context, and to provide some further - arguably more robust - estimates of the impact of non-response bias. …
Persistent link: https://www.econbiz.de/10005767252
The paper highlights the importance of the representativeness of survey samples, using the 1992 British Crime Survey as …
Persistent link: https://www.econbiz.de/10005572355
We use a novel field experiment which jointly tests two implicit assumptions of updating models in a joint framework …: that new information leads to new knowledge and that new knowledge can affect economic decisions. In the experiment, we … consistent with a model of incomplete learning, fatigue and either confirmation bias or costly search coupled with unbiased …
Persistent link: https://www.econbiz.de/10011220335
We use a novel field experiment which jointly tests two implicit assumptions of updating models in a joint framework …: that new information leads to new knowledge and that new knowledge can affect economic decisions. In the experiment, we … consistent with a model of incomplete learning, fatigue and either confirmation bias or costly search coupled with unbiased …
Persistent link: https://www.econbiz.de/10011220348
outside their ethnic group. In the experiment, Thai subjects observed information that came from Americans and other Thais …
Persistent link: https://www.econbiz.de/10005125584