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Learning direction theory and the winners curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - 2001
Persistent link: https://www.econbiz.de/10013430409
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Learning direction theory and the winners curse
Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - 2001
We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an … unknown value. A winner s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can … account for this. However, other influences on behaviour can also be identified. We introduce impulse balance theory to make …
Persistent link: https://www.econbiz.de/10011539130
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Erwartungsbildung, individuelle Entscheidungen und das Lernen ökonomischer Zusammenhänge
Heinemann, Maik - 2001
Persistent link: https://www.econbiz.de/10001546527
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The evolution of awareness and belief ambiguity in the process of high school track choice
Giustinelli, Pamela; Pavoni, Nicola - In: Review of economic dynamics 25 (2017), pp. 93-120
Persistent link: https://www.econbiz.de/10011893694
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Cognitive Economics
Walliser, Bernard (contributor) - 2008
framework of game theory in order to better fit with the results of rapidly increasing laboratory experiments concerned with …
Persistent link: https://www.econbiz.de/10013520755
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Cognitive economics
Walliser, Bernard - 2008 - 1. ed.
Persistent link: https://www.econbiz.de/10003463313
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The role of customer expectations in name-your-own-price markets
Fay, Scott; Lee, Seung Hwan - In: Journal of business research : JBR 68 (2015) 3, pp. 675-683
Persistent link: https://www.econbiz.de/10010496156
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A cognitive foundation for perceiving uncertainty
Bohren, J. Aislinn; Hascher, Josh; Imas, Alex; … - 2024
Persistent link: https://www.econbiz.de/10015078774
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Bubbles, crashes and information contagion in large-group asset market experiments
Hommes, Cars H.; Kopányi-Peuker, Anita; Sonnemans, Joep - 2019
We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants) and large markets (about 100 participants). In...
Persistent link: https://www.econbiz.de/10011979625
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Individual expectations and aggregate behavior in learning to forecast experiments
Hommes, Cars (contributor); Lux, Thomas (contributor) - 2008
Models with heterogeneous interacting agents explain macro phenomena through interactions at the micro level. We propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains all stylized facts observed in aggregate price fluctuations...
Persistent link: https://www.econbiz.de/10003777257