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Social interactions pervade daily life and thereby create an abundance of social experiences. Such personal experiences likely shape what we believe and who we are. In this paper, we ask if and how personal experiences from social interactions determine individuals' inclination to trust others?...
Persistent link: https://www.econbiz.de/10011987073
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
(Learning-to-Forecast experiments) or individual trading (Learning-to-Optimize experiments). Bao et al. (2017) have shown that …
Persistent link: https://www.econbiz.de/10011956452
discover compared to equally-relevant information they discover themselves. In a series of incentivized lab experiments, we ask …
Persistent link: https://www.econbiz.de/10013362032
Agents in a network want to learn the true state of the world from their own signals and their neighbors' reports. Agents know only their local networks, consisting of their neighbors and the links among them. Every agent is Bayesian with the (possibly misspecified) prior belief that her local...
Persistent link: https://www.econbiz.de/10012159057
Attention is a pivotal resource in the modern economy and plays an increasingly prominent role in economic analysis. We … summarize research on attention from both psychology and economics, placing a particular emphasis on its capacity to explain …, including attention-based utility, the recent proliferation of attentional externalities introduced by digital technology, the …
Persistent link: https://www.econbiz.de/10014383940
only subjects who picked the minority option obtain a positive reward. Previous experiments on the minority and similar … reinforcement learning models than with belief-based models. Showing level-2 rationality (i.e., reasoning about others' beliefs) is … approach pays off. In addition, teams that are more successful tend to become more egocentric over time, paying more attention …
Persistent link: https://www.econbiz.de/10011734522
forecast laboratory experiments with human subjects (Hommes et al. 2007), simultaneously and across different treatments …
Persistent link: https://www.econbiz.de/10003777257
; Mixed strategy ; Learning models ; Experiments …
Persistent link: https://www.econbiz.de/10008689027
Our study analyzes theories of learning for strategic interactions in networks. Participants played two of the 2 x 2 games used by Selten and Chmura (2008) and in the comment by Brunner, Camerer and Goeree (2009). Every participant played against four neighbors and could choose a different...
Persistent link: https://www.econbiz.de/10008841787