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Our study compares individual and team bidding in standard auction formats: first-price, second-price and ascending …
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We report results from a laboratory experiment that explores the effects of preference communication and leader selection mechanisms in group decision-making. In a setting where all members of a group get the same payoff based on the group leader's decision of how much risk to take, we study the...
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We designed four observational learning experiments to identify the key channels that, along with Bayes … actions, but they overweight their low quality signals relative to public information. Experiments 2-4 reveal that non …) overemphasis on low (resp. medium) quality signals is caused by wrong expectations about others' strategy. A model of intuitive …
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We present an experiment on strategic thinking and behavior of individuals and teams in one-shot normal-form games. Besides making choices, decision makers have to state their first- and second-order beliefs. We find that teams play the Nash strategy significantly more often, and their choices...
Persistent link: https://www.econbiz.de/10010294792