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knowledge of rational machines.Originality/value: To our knowledge, this is the first time that this double-experiment …
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In our laboratory experiment, subjects, in sequence, have to predict the value of a good. The second subject in the … another experiment, we directly test the LRTU model and find support for it. …
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In our laboratory experiment, subjects, in sequence, have to predict the value of a good. We elicit the second subject … generalization of the Maximum Likelihood Updating rule. In another experiment, we directly test this theory and find support for it. …
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