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sunk cost behavior, rather than algorithmic thinking (fluid intelligence) or the personality trait of openness. We …
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Interactions between players with private information and opposed interests are often prone to bad advice and inefficient outcomes, e.g. markets for financial or health care services. In a deception game we investigate experimentally which factors could improve advice quality. Besides advisor...
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Two experimental treatments are used to study the effects of auction risk across five mechanisms. The first canonical, baseline treatment features only strategic risk and replicates the standard results that overbidding relative to the risk neutral Nash equilibrium is prevalent in all common...
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Status and reputation concerns are conjectured to be important especially in markets with information asymmetries … between buyers and sellers, such as in credence goods markets. To investigate the effects of status and reputation on …-mail requests to insurance brokers asking for an appointment. We find that status nudging and, with a larger effect size, reputation …
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