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Valuation of self-insurance and self-protection under ambiguity: experimental evidence

Ozdemir, Ozlem - 2007

This experimental study, first, compares the individual valuations of two risk reduction mechanisms: self-insurance and self-protection. Second, it investigates these valuations when the loss amount is ambiguous, and compare these values with valuations when loss amounts are known. results...

Persistent link: https://www.econbiz.de/10010263799

Predicting one Shot Play in 2x2 Games Using Beliefs Based on Minimax Regret

Gallice, Andrea - 2006

We present a simple procedure that selects the strategies most likely to be played by inexperienced agents who interact in one shot 2x2 matching pennies games. As a first step we axiomatically describe players' beliefs. We find the minimax regret criterion to be the simplest functional form that...

Persistent link: https://www.econbiz.de/10010312257

Coordination in Networks Formation: Experimental Evidence on Learning and Salience

Galizzi, Matteo; Bernasconi, Michele - 2005

We present experiments on repeated non-cooperative network formation games, based on Bala and Goyal (2000). We treat … coordination problems. We conduct experiments under various conditions which control for salient labeling and learning dynamics …. Contrary to previous experiments, we find that coordination on non-empty Strict Nash equilibria is not an easy task for …

Persistent link: https://www.econbiz.de/10010312592

Communication in asymmetric group competition over public goods

Zhang, Jingjing - 2012

This paper examines whether and how cheap talk communication can facilitate within-group coordination when two unequal sized groups compete for a prize that is shared equally among members of the winning group, regardless of their (costly) contributions to the group's success. We find that...

Persistent link: https://www.econbiz.de/10010316824

Maintaining efficiency while integrating entrants from lower-performing environments: An experimental study

Salmon, Timothy C.; Weber, Roberto A. - 2011

Efficient growth often requires the integration of individuals from lower-performing groups, firms, or societies into higher-performing ones. Such integration may be difficult without facilitating interventions or restrictions. We explore, using a laboratory experiment, the effectiveness of two...

Persistent link: https://www.econbiz.de/10010316829

Inefficient markets

Goeree, Jacob K.; Zhang, Jingjing - 2012

would result. In a series of laboratory experiments we study price formation in markets with private and common values …

Persistent link: https://www.econbiz.de/10010316881

Individual sense of fairness: An experimental study

Karni, Edi; Salmon, Timothy C.; Sopher, Barry - 2001

part, by concern for fairness. The experimental study is intended to test this hypothesis. In the experiments, the subjects …

Persistent link: https://www.econbiz.de/10010318333

Symmetric play in repeated allocation games

Kuzmics, Christoph; Palfrey, Thomas; Rogers, Brian W. - 2012

experiments that support many aspects of this theory. …

Persistent link: https://www.econbiz.de/10010319965

Inferring preferences from choices under uncertainty

Kuzmics, Christoph - 2012

If a decision maker, in a world of uncertainty à la Anscombe and Aumann (1963), can choose acts according to some objective probability distribution (by throwing dice for instance) from any given set of acts, then there is no set of acts that allows an experimenter to test more than the Axiom...

Persistent link: https://www.econbiz.de/10010319975

Sealed Bid Auctions vs. Ascending Bid Auctions: An Experimental Study

Andersson, Christer; Andersson, Ola; Andersson, Tommy - 2011

This paper considers the sealed bid and ascending auction, which both identifies the minimum Walrasian equilibrium prices and where truthful preference revelation constitutes an equilibrium. Even though these auction formats share many theortical properties, there are behavioral aspects that are...

Persistent link: https://www.econbiz.de/10010320367