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What does economics assume about people's knowledge? : who knows?
Caleiro, António - 2007 - 1st version: April 15, 2007, this version: October 16, 2007
rationality behaviour by people. Quite recent developments in the Economics of Knowledge, i.e. the so-called learning models, have …
Persistent link: https://www.econbiz.de/10011502970
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Learning, forecasting and optimizing : an experimental study
Te, Bao; Duffy, John; Hommes, Cars H. - 2012
Persistent link: https://www.econbiz.de/10010191021
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A General Model of Boundedly Rational Observational Learning : Theory and Evidence
Mueller-Frank, Manuel - 2015
This paper introduces a model of boundedly rational observational learning, which is rationally founded and applicable …
Persistent link: https://www.econbiz.de/10013027986
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Cognitive ability, character skills, and learning to play equilibrium : a level-k analysis
Gill, David; Prowse, Victoria L. - 2014
understand better how subjects with different cognitive abilities learn differently, we estimate a structural model of learning … ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable …
Persistent link: https://www.econbiz.de/10010364492
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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
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Variety aversion and information overload: An experimental approach
Kaiser, Karen - 2011
This paper analyzes the effect of information overload on preference or aversion for variety. According to the model, a rational decision maker who suffers from information overload, faces a two-stage decision process, and is choosing from a set of unknown goods will find it optimal at some...
Persistent link: https://www.econbiz.de/10010322601
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Preferences-Dependent Learning in the Centipede Game
Gamba, Astrid - 2015
learning process of individuals with different preference types (more and less pro-social) and coarse information regarding the …
Persistent link: https://www.econbiz.de/10013014085
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On the Behavior of Proposers in Ultimatum Games
Brenner, Thomas; Vriend, Nicolaas J. - 2003
-payoff-maximizing offer. Second, considering a range of learning theories (from optimal to boundedly rational), we explain that this is an … inherent feature of the learning task faced by the proposers, and we provide some insights into the actual learning behavior of …
Persistent link: https://www.econbiz.de/10014075019
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Variety Aversion and Information Overload: An Experimental Approach
Kaiser, Karen - Banco de México - 2011
This paper analyzes the effect of information overload on preference or aversion for variety. According to the model, a rational decision maker who suffers from information overload, faces a two-stage decision process, and is choosing from a set of unknown goods will find it optimal at some...
Persistent link: https://www.econbiz.de/10009023315
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Boundedly rational opinion dynamics in social networks : does indegree matter?
Battiston, Pietro; Stanca, Luca M. - 2015
This paper investigates opinion dynamics and social influence in directed communication networks. We study the theoretical properties of a boundedly rational model of opinion formation in which individuals aggregate the information they receive from their neighbors by using weights that are a...
Persistent link: https://www.econbiz.de/10010510796