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dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …
Persistent link: https://www.econbiz.de/10010364762
Persistent link: https://www.econbiz.de/10010347112
play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10010366554
play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10003379095
ambiguous lotteries. In the second experiment the sample averages do not converge.If we define fictive learning in an experiment …, then we expect fictive learning in the first experiment, but no fictive learning in the second experiment. The surprising … finding in this paper is the presence of fictive learning in the second experiment. We attribute this counterintuitive result …
Persistent link: https://www.econbiz.de/10013084883
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
The unskilled-and-unaware problem describes a negative relationship between one’s skill level and self-assessment bias: the less skilled are, on average, more unaware of the absolute and relative quality of their performance. In this paper, we study whether, and to what extent, the...
Persistent link: https://www.econbiz.de/10011051337
Individuals belonging to a social group make judgments about their relative standing within the group as well as about the relative standing of their group among other groups. On average, individuals exhibit overconfidence bias in both types of judgments in a variety of settings. We hypothesize,...
Persistent link: https://www.econbiz.de/10011051357
We experimentally investigate the determinants of overconfidence and test the hypothesis, advanced by Robert Trivers, that overconfidence serves to more effectively persuade or deceive others. After performing a cognitively challenging task, half of our subjects are informed about the...
Persistent link: https://www.econbiz.de/10011441641
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
Persistent link: https://www.econbiz.de/10011523747