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overconfidence. Cognitive uncertainty represents a decision maker's uncertainty about her action optimality. We present a simple …
Persistent link: https://www.econbiz.de/10013257953
. The evidence supports the predictions of our model, most notably that investor learning about manager ability weakens when … to the resultant sluggish learning process …
Persistent link: https://www.econbiz.de/10013245400
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behavioural models suggested by psychology (i.e., weighted probabilities applied to regret and rejoice theory), and by updating … probability estimations and outcome preferences according to the learning models suggested by neuroscience (i.e., adaptive … learning aimed at reducing surprises), and analogous to Bayesian updating. The search context is derived from experimental …
Persistent link: https://www.econbiz.de/10011703316
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demand. The former learning effect, combined with the latter real-options effect, adversely affect firms' entry decisions and …
Persistent link: https://www.econbiz.de/10012258487
conducting a set of experiments in simple 2 x 2 dominance solvable coordination games. Our experiments involve two main …
Persistent link: https://www.econbiz.de/10013011816
dramatic consequences. To test whether the overconfidence bias affects the decision of backcountry skiers to go on a ski trip …
Persistent link: https://www.econbiz.de/10010513329
We study three fundamental components of financial agency settings: Perception and communication of investment profiles, the interaction of agents’ and clients’ preferences, and the role of (non-)monetary incentives. The perception of investment profile terminology is very heterogeneous,...
Persistent link: https://www.econbiz.de/10012124358
We develop a general model, with the exponential bandit as a special case, in which high-ability agents are more likely to achieve early success but also learn faster that their project is not promising. These counteracting effects give rise to a signaling model in which the single-crossing...
Persistent link: https://www.econbiz.de/10012866872