I examine the behavior of subjects in common value auctions with both experienced and inexperienced bidders in the same market. Subjects know that they are competing against both experienced and inexperienced subjects and can observe bidding behavior of their opponents after an auction round....

In this paper, I present an empirical model of learning under ambiguity in the context of clinical trials. Patients are concern with learning the treatment effect of the experimental drug, but face the ambiguity of random group assignment. A two dimensional Bayesian model of learning is proposed...

We analyse belief formation in social networks in a laboratory experiment. Our 3 x 3 design varies the network structure and the amount of information agents have about it. Agents observe an imperfect private signal on the true state of the world and then repeatedly guess the true state,...