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Satisficing in time-sensitive bandit learning
Russo, Daniel; Van Roy, Benjamin - In: Mathematics of operations research 47 (2022) 4, pp. 2815-2839
Persistent link: https://www.econbiz.de/10014311390
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The endowment effect as blessing
Frenkel, Sivan; Heller, Yuval; Teper, Roee - 2017
We study the idea that seemingly unrelated behavioral biases can coevolve if they jointly compensate for the errors that any one of them would give rise to in isolation. We suggest that the "endowment effect" and the "winner's curse" could have jointly survived natural selection together. We...
Persistent link: https://www.econbiz.de/10011661133
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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
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Cognitive ability, character skills, and learning to play equilibrium : a level-k analysis
Gill, David; Prowse, Victoria L. - 2014
In this paper we investigate how cognitive ability and character skills influence behavior, success and the evolution … 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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Cognitive ability, character skills, and learning to play equilibrium : a level-k analysis
Gill, David; Prowse, Victoria - 2014
Persistent link: https://www.econbiz.de/10010365624
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Social Reciprocity
Carpenter, Jeffrey P.; Matthews, Peter Hans - 2004
We define social reciprocity as the act of demonstrating one's disapproval, at some personal cost, for the violation of widely-held norms (e.g., don't free ride). Social reciprocity differs from standard notions of reciprocity because social reciprocators intervene whenever a norm is violated...
Persistent link: https://www.econbiz.de/10010271935
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The role of implicit motives in strategic decision-making : computational models of motivated learning and the evolution of motivated agents
Merrick, Kathryn - In: Games 6 (2015) 4, pp. 604-636
affiliation-motivated individuals engaged in game-play. The first model captures learning by motivated agents during strategic … interactions. The second model captures the evolution of a society of motivated agents. It is demonstrated that misperception, when …
Persistent link: https://www.econbiz.de/10011384060
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A behavioral study of "noise" in coordination games
Mäs, Michael; Nax, Heinrich H. - In: Journal of economic theory 162 (2016), pp. 195-208
Persistent link: https://www.econbiz.de/10011593098
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Learning to be overconfident
Gervais, Simon; Odean, Terrance - 1997
Persistent link: https://www.econbiz.de/10000966483
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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