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Robust Experimentation in the Continuous Time Bandit Problem
Pourbabaee, Farzad - 2020
We study the experimentation dynamics of a decision maker (DM) in a two-armed bandit setup (Bolton and Harris [1999]), where the agent holds ambiguous beliefs regarding the distribution of the return process of one arm and is certain about the other one. The DM entertains Multiplier preferences...
Persistent link: https://www.econbiz.de/10012852164
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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 …
Persistent link: https://www.econbiz.de/10011539130
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Learning and the Possibility of Losing Own Money Reduce Overbidding : Delayed Payment in Experimental Auctions
Zhang, Yu Yvette - 2017
received a cash endowment two weeks after the experiment day and had to use their own money to pay the experimental loss (if … any) on the experiment day. We compared the effect of delayed payment on overbidding in the induced value SPAs with the … conventional “on-the-spot” payment mechanism when the subjects received an endowment on the experiment day, and the prepaid …
Persistent link: https://www.econbiz.de/10012971336
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On the Behavior of Proposers in Ultimatum Games
Brenner, Thomas; Vriend, Nicolaas J. - 2003
We demonstrate that one should not expect convergence of the proposals to the subgame perfect Nash equilibrium offer in standard ultimatum games. First, imposing strict experimental control of the behavior of the receiving players and focusing on the behavior of the proposers, we show...
Persistent link: https://www.econbiz.de/10014075019
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Evaluation of Econometric Models of Adaptive Learning by Predictive Measures
Chernov, Gregory - 2020
Game-theoretic models of learning are hard to study even in the laboratory setting due to econometric and practical concerns (like the limited length of an experimental session).In particular, as the simulations by (Salmon, 2001) show, in a cross-model (or "blind'') testing of several models,...
Persistent link: https://www.econbiz.de/10012827651
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Decision and strategies in a sequential search experiment
Sonnemans, Joep - 1997
works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice …
Persistent link: https://www.econbiz.de/10011283474
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Preferences-dependent learning in the Centipede game
Gamba, Astrid; Regner, Tobias - 2015
We study experimentally whether heterogeneity of behavior in the Centipede game can be interpreted as the result of a learning process of individuals with different preference types (more and less pro-social) and coarse information regarding the opponent's past behavior. We manipulate the...
Persistent link: https://www.econbiz.de/10011326679
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Belief formation in a signalling game without common prior : an experiment
Possajennikov, Alexandre - 2012
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
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The formation of risk preferences throughs small-scale events
Angerer, Silvia; Dutcher, E. Glenn; Glätzle-Rützler, … - 2021
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012657858
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The formation of risk preferences through small-scale events
Angerer, Silvia; Dutcher, E. Glenn; Glätzle-Rützler, … - 2021
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012607585