Showing 1 - 10 of 5,726
Persistent link: https://www.econbiz.de/10010191021
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
I experimentally investigate how vague language changes the nature of communication in a biased strategic information transmission game. Counterintuitively, when both precise and imprecise messages can be sent, in aggregate, senders are more accurate, and receivers trust them more than when only...
Persistent link: https://www.econbiz.de/10013367782
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
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
-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
This paper develops and tests a model of sequential decision making where a first stage of ranking a set of alternatives is followed by a second stage of determining the value of these same alternatives. The model assumes a boundedly rational Bayesian decision maker who is uncertain about...
Persistent link: https://www.econbiz.de/10014101839
This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean …-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of … JMG's ideas of self-fulfilling mistakes. Some of our learning-to-forecast laboratory experiments with human subjects have …
Persistent link: https://www.econbiz.de/10011590425
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
Bidding challenges learning theories since experiences with the same bid vary stochastically:the same choice can result … learning theories. Our experimental results suggest that a version of reinforcementlearning which accounts for loss aversion …
Persistent link: https://www.econbiz.de/10005866949