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 …

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 …

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 …

, we test the relevance of their input variables (second-order beliefs and general dispositions for guilt/reciprocity). The … data confirm the predictions of belief-dependant models. Both second-order beliefs and a participant's sensitivity to guilt …/reciprocity are relevant for the decisions taken. Second-order beliefs appear to have an inverse U-shaped effect on the extent of kind …

(outgroup treatment). Dictators condition their amount sent on second-order beliefs. I find that, the positive influence of … second-order beliefs on how much the dictator sends is stronger in the ingroup treatment than in the outgroup treatment. From …

theory on moral emotions to belief-dependant models in economics. We find that - in addition to second-order beliefs and …

performance feedback, leading to overly pessimistic beliefs. This is in contrast to the corresponding self-irrelevant setup, where …