We use a limited information environment to assess the role of confusion in the repeated voluntary contributions game. A comparison with play in a standard version of the game suggests, that the common claim that decision errors due to confused subjects biases estimates of cooperation upwards,...

We design a novel experiment to study how subjects update their beliefs about the beliefs of others. Three players receive sequential signals about an unknown state of the world. Player 1 reports her beliefs about the state; Player 2 simultaneously reports her beliefs about the beliefs of Player...

There are many important decision problems where learning through experimentation is costly or impossible. In these situations, individuals may try to learn from observing the outcomes of others who have made similar decisions. Often, however, information about others comprises a selected...

We study human learning in a individual choice laboratory task called Orange Juice Futures price forecasting (OJF), in which subjects must implicitly learn the coefficients of two independent variables in a stationary linear stochastic process. The 99 subjects each forecast in 480 trials with...

In this paper, a variant of Kiyotaki and Wright model of emergence of money is investigated. In the model, each good has different durability rather than storage cost assumed in Kiyotaki and Wright model. Two goods are infinitely durable but one is not durable. With certain condition, non...

Randomized experiments (REs) are viewed as the "gold standard" for the treatment evaluation, but many REs are plagued by attrition or non-compliance, even among subjects receiving the more effective treatment. This paper constructs an economic model of decision-making in which individuals make...

Do agents believe to be agreeing more with others in the long-run? This paper designs an experiment to study how cognitive abilities affect actual and perceived disagreement in a standard sequential belief updating task with public signals. We document a persistent gap in the perception of...

Do agents believe to be agreeing more with others in the long-run? This paper designs an experiment to study how cognitive abilities affect actual and perceived disagreement in a standard sequential belief updating task with public signals. We document a persistent gap in the perception of...

This paper studies how the existence of a minority culture influences the well-being of the native population and its attitude towards immigrants. In this context, I assume that multicultural interaction can be advantageous for immigrants and natives if intercultural obstacles and communication...

This paper studies how the existence of a minority culture influences the well-being of the native population and its attitude towards immigrants. In this context, I assume that multicultural interaction can be advantageous for immigrants and natives if intercultural obstacles and communication...