Showing 1 - 10 of 697
A classic argument in economics is that experience in the market place will eliminate mistakes and cognitive biases. Internet auctions are a popular market were some bidders gather extensive experience. In a unique data set from a Scandinavian auction site I question if and what bidders learn....
Persistent link: https://www.econbiz.de/10005070468
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 start with diffuse uniform beliefs and update them in view of …
Persistent link: https://www.econbiz.de/10009535526
-armed bandit (probabilistic reversal learning) experiments. To aid in identification and estimation, we use auxiliary measures of … subjects' beliefs, in the form of their eye-movements during the experiment. Our estimated choice probabilities and learning … accordance with current beliefs. Moreover, the beliefs implied by our nonparametric learning rules are closer to those from a …
Persistent link: https://www.econbiz.de/10010277527
Consumer prices in many markets are persistently dispersed both across retail outlets and over time. While the cross sectional distribution of prices is stable, individual stores change their position in the distribution over time. It is a challenge to model oligopolistic price adjustment to...
Persistent link: https://www.econbiz.de/10010278131
Consumer prices in many markets are persistently dispersed both across retail outlets and over time. While the cross sectional distribution of prices is stable, individual stores change their position in the distribution over time. It is a challenge to model oligopolistic price adjustment to...
Persistent link: https://www.econbiz.de/10005772961
sophisticated beliefs about others. Here we are interested in learning that occurs between games where the set of actions is not … occurs by switching from non-belief-based strategies to belief-based strategies. The sophistication of the beliefs themselves …
Persistent link: https://www.econbiz.de/10010597534
experiment to pin down estimates of subjectsʼ beliefs. Estimates show that subjects are more reluctant to “update down” following …
Persistent link: https://www.econbiz.de/10011049849
This paper experimentally investigates the nature of impulses in impulse learning. Particularly, we analyze whether positive feedback (i.e., yielding a superior payo in a game) or negative feedback (i.e., yielding an inferior payo in a game) leads to a systematic change in the individual...
Persistent link: https://www.econbiz.de/10013085982
This paper experimentally investigates the nature of impulses in impulse learning. Particularly, we analyze whether positive feedback (i.e., yielding a superior payoff in a game) or negative feedback (i.e., yielding an inferior payoff in a game) leads to a systematic change in the individual...
Persistent link: https://www.econbiz.de/10010709094
We conduct two experiments where subjects make a sequence of binary choices between risky and ambiguous binary … analyze with the alternating logistic regression (ALR) package in SAS. In both experiments, we reveal to each subject the …
Persistent link: https://www.econbiz.de/10013084883