This paper reports the results of informational cascades experiments where two different decision-making systems, anti …-seniority, but it increases the risk for creating negative cascades, (3) for both systems, rational complete cascades occur less … frequently than those which the Bayesian theory predicts, (4) subjects in seniority put equal weight on private signals and on …

outcomes after the search. The players' reservation value tends to decrease with their level of risk aversion. We propose a … this scenario, risk-averse players tend to increase their reservation value and extend their search duration. We also test … our theory in a laboratory experiment with a search game to track subjects' behavior and use a multiple price list and a …

that is roughly consistent with the benchmark theory. …

belief about the own rank in a real effort task, and subjects' risk preferences. In this paper I am able to replicate these … males. Additionally, I show that individual characteristics are more important for the entry decision in more competitive …

belief about the own rank in a real effort task, and subjects' risk preferences. In this paper I am able to replicate these … males. Additionally, I show that individual characteristics are more important for the entry decision in more competitive …

Actors in various settings have been increasingly relying on algorithmic tools to support their decision-making. Much … - decision-makers cannot verify the quality of such goods, even after "consuming" them. Based on this finding, we test two … algorithm, it remarkably decreases human decision-making performance. In the second treatment, we reveal the task's correct …