We designed four observational learning experiments to identify the key channels that, along with Bayes … observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in …

survey on methodological points, with particular attention to the role of experiments within theoretical and empirical … scholarship, the core ingredients of a well done experiment, and common distinctions between experimental economics and other …

This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The … order to disentangle different choice dynamics, they devise a laboratory experiment with a novel experimental task in which …

overconfidence. Cognitive uncertainty represents a decision maker's uncertainty about her action optimality. We present a simple …

shocks and investigates whether such biases affect firms’ decision-making in the future. We use unique administrative survey … rigid response to learning new information in the huge unexpected changes. Specifically, before the exogenous shock, overall … bias in managerial cognition diminished when uncertainty decreases. We show the existence of moderates and an anchoring …

knowledge. This systematic cognitive bias alters many predictions derived from game theory which involve an asymmetry of … negotiation situations. We report the results of a laboratory experiment that was designed to isolate the effect of the curse of …

knowledge. This systematic cognitive bias alters many predictions derived from game theory which involve an asymmetry of … negotiation situations. We report the results of a laboratory experiment that was designed to isolate the effect of the curse of …