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This survey discusses behavioral and experimental macroeconomics emphasizing a complex systems perspective. The economy consists of boundedly rational heterogeneous agents who do not fully understand their complex environment and use simple decision heuristics. Central to our survey is the...
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The black box method was developed as an "asocial control" to allow for payoff-based learning while eliminating social responses in repeated public goods games. Players are told they must decide how many virtual coins they want to input into a virtual black box that will provide uncertain...
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player can obtain a signal for free (as in the experiment by Anderson and Holt, 1997, American Economic Review), the case of …
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