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When does the price affect the taste? : results from a wine experiment
Almenberg, Johan; Dreber, Anna - 2009 - Rev. March 2, 2010
attribute information concerning wine. -- Price-Quality Heuristic ; Attribute Information ; Role of Expectations ; Marketing … is received, affects how the good is experienced. The good in question was wine, and the price was either high or low …. Our results suggest that hosts offering wine to guests can safely reveal the price: much is gained if the wine is …
Persistent link: https://www.econbiz.de/10003826777
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When Does the Price Affect the Taste? Results from a Wine Experiment
Almenberg, Johan - 2010
is received, affects how the good is experienced. The good in question was wine, and the price was either high or low …. Our results suggest that hosts offering wine to guests can safely reveal the price: much is gained if the wine is … expensive, and little is lost if it is cheap. Disclosing the high price before tasting the wine produces considerably higher …
Persistent link: https://www.econbiz.de/10013152920
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Correlation neglect in belief formation
Enke, Benjamin; Zimmermann, Florian - 2013
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such context many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10009748615
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Deception and self-deception
Schwardman, Peter; Weele, Joël J. van der - 2016
We experimentally investigate the determinants of overconfidence and test the hypothesis, advanced by Robert Trivers …
Persistent link: https://www.econbiz.de/10011441641
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Correlation Neglect in Belief Formation
Enke, Benjamin - 2013
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10013082140
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Correlation Neglect in Belief Formation
Enke, Benjamin - 2013
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10013072106
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Testing Models of Belief Bias : An Experiment
Coutts, Alexander - 2019
Optimistic beliefs affect important areas of economic decision making, yet direct knowledge on how belief biases operate remains limited. To better understand these biases I introduce a theoretical framework that trades off anticipatory benefits against two potential costs of forming biased...
Persistent link: https://www.econbiz.de/10012904062
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Correlation neglect in belief formation
Enke, Benjamin; Zimmermann, Florian - 2013
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10010211474
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Correlation neglect in belief formation
Enke, Benjamin; Zimmermann, Florian - 2013
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10009740017
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True overconfidence, revealed through actions : an experiment
Cheung, Stephen L.; Johnstone, Lachlan - 2017
We report an experiment that infers true overconfidence in relative ability through actions, as opposed to reported beliefs. Subjects choose how to invest earnings from a skill task when the returns depend solely upon risk, or both risk and relative placement, enabling joint estimation of...
Persistent link: https://www.econbiz.de/10011612902