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 start with diffuse uniform beliefs and update them in view of …

markets. It demonstrates the cost of a fine-tuning strategy and the benefits from a quick implementation of price reform. The …

belief of the audience, which generates a sample selection problem. This paper experimentally studies how people form beliefs …