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I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity. In a between-subjects design I vary whether subjects learn choices made individually by a "peer" in a first part when facing the same task a second time, and whether prospects...
Persistent link: https://www.econbiz.de/10010364762
Persistent link: https://www.econbiz.de/10012102365
We use a laboratory experiment to study how mutual payoff information affects play in strategic settings. Subjects play … the Prisoner's Dilemma or Stag Hunt game against randomly re-matched opponents under two information treatments. In our … partial-information treatment subjects are shown only their own payoffs, while in our full-information treatment they are …
Persistent link: https://www.econbiz.de/10013213631
In an information cascade experiment participants are confronted with artificial predecessors predicting in line with … coinciding predictions of predecessors are observed, regardless of whether additional information is revealed by these …
Persistent link: https://www.econbiz.de/10010343945
In this paper, we report the results of experiments designed to test whether individuals and groups abide by the axioms of monotonicity, with respect to first-order stochastic dominance and Bayesian updating, when making decisions in the face of risk. The results indicate a significant number of...
Persistent link: https://www.econbiz.de/10014055667
", which ensures that the old information is used correctly after an unforeseen event materializes. We find that participants …
Persistent link: https://www.econbiz.de/10012306040
", which ensures that the old information is used correctly after an unforeseen event materializes. We find that participants …
Persistent link: https://www.econbiz.de/10012307444
irreversible effects, but where the decision-maker can improve her information about the true future preferences. This problem was …
Persistent link: https://www.econbiz.de/10014023926
Consider an investment problem with strategic complementarities and incomplete information about returns. This paper … shows that investors aggregate their private information in equilibrium by trading a token and observing its market price … over multiple rounds before making the investment decision. This result is robust to the information environment. The paper …
Persistent link: https://www.econbiz.de/10014239114
Decision makers often take risky decisions on the behalf of others rather than for themselves. Competing theoretical models predict both, higher as well as lower levels of risk aversion when taking risk for others, and the experimental evidence is mixed. In our within-subject design, money...
Persistent link: https://www.econbiz.de/10010519127