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March, Christoph - 2016

The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …

Persistent link: https://www.econbiz.de/10011434567

The expected externality mechanism in a Level-k environment

Gorelkina, Olga - 2015

Mechanism design theory strongly relies on the concept of Nash equilibrium. However, studies of experimental games show that Nash equilibria are rarely played and that subjects may be thinking only a finite number of iterations. We study one of the most influential benchmarks of mechanism design...

Persistent link: https://www.econbiz.de/10010471710

Public statistics and private experience : varying feedback information in a take-or-pass game

Danz, David; Huck, Steffen; Jehiel, Philippe - 2015

We study how subjects in an experiment use different forms of public information about their opponents' past behavior. In the absence of public information, subjects appear to use rather detailed statistics summarizing their private experiences. If they have additional public information, they...

Persistent link: https://www.econbiz.de/10011437784

Initial beliefs uncertainty and information weighting in the estimation of models with adaptive learning

Galimberti, Jaqueson K. - 2021

Persistent link: https://www.econbiz.de/10012601834

Behavioral and experimental macroeconomics and policy analysis : a complex systems approach

Hommes, Cars H. - 2018

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...

Persistent link: https://www.econbiz.de/10011929804

Adverse selection, heterogeneous beliefs, and evolutionary learning

Buchen, Clemens; Palermo, Alberto - 2021

version of a cobweb model. In an evolutionary learning set-up, which is imitative, principals can have different beliefs about …

Persistent link: https://www.econbiz.de/10012607986

Heterogeneous Beliefs and Imperfect Competition in Sequential Auction Markets

Boco, Herve - 2014

This paper analyzes a multi-auction setting in which informed strategic agents are endowed with heterogeneous noisy signals about the liquidation value of a risky asset. We solve for the unique linear equilibrium. One result is that when the variance of the noise is small which leads to a strong...

Persistent link: https://www.econbiz.de/10013060893

Endogenously (non-)Ricardian beliefs

Branch, William A.; Gasteiger, Emanuel - 2019

This paper develops a theory of endogenously (non-)Ricardian beliefs. That is, whether Ricardian Equivalence holds in an equilibrium depends on endogenous private sector beliefs. The novelty here is a restricted perceptions viewpoint: in complex forecasting environments, agents forecast...

Persistent link: https://www.econbiz.de/10011988962

Belief formation in a signalling game without common prior : an experiment

Possajennikov, Alexandre - 2012

Using belief elicitation, the paper investigates the formation and the evolution of beliefs in a signalling game in which a common prior on Sender's type is not induced. Beliefs are elicited about the type of the Sender and about the strategies of the players. The experimental subjects often...

Persistent link: https://www.econbiz.de/10009535526

Erwartungsbildung, individuelle Entscheidungen und das Lernen ökonomischer Zusammenhänge

Heinemann, Maik - 2001

Persistent link: https://www.econbiz.de/10001546527

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