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Individual expectations and aggregate macro behavior
Assenza, Tiziana; Heemeijer, Peter; Hommes, Cars H.; … - 2013
Persistent link: https://www.econbiz.de/10010191431
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The power of sunspots : an experimental analysis
Fehr, Dietmar; Heinemann, Frank; Llorente-Saguer, Aniol - 2017
This paper presents an experiment on a coordination game with extrinsic random signals, in which we systematically vary the stochastic process generating these signals and measure how signals affect behavior. We find that sunspot equilibria emerge naturally if there are salient public signals....
Persistent link: https://www.econbiz.de/10011596121
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An experimental test of design alternatives for the British 3G/UMTS auction
Abbink, Klaus; Irlenbusch, Bernd; Pezanis-Christou, Paul; … - 2001
. In the preparation of the auction, two designs involving each a hybrid of an English and a sealed-bid auction were … also compare the results to those with a pure English auction. Both hybrids are similar in efficiency, revenue differences … disappear as bidders get experienced. Compared to the discriminatory format, the pure English auction gives new entrants better …
Persistent link: https://www.econbiz.de/10011540075
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Menstrual cycle and competitive bidding
Pearson, Matthew; Schipper, Burkhard - 2009 - Rev.
; menstrual cycle ; gender ; likelihood of conception ; first price auction ; risk behavior ; competition ; bidding …
Persistent link: https://www.econbiz.de/10003878997
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Uniform vs. discriminatory auctions with variable supply : experimental evidence
Damianov, Damian Stefanov; Oechssler, Joerg; Becker, … - 2007
In the variable supply auction considered here, the seller decides how many costumers with unit demand to serve after … discriminatory price auction is better for the seller in this setting. Exactly as predicted by theory, it turns out that the uniform … price auction produces substantially higher bids, and consequently yields higher revenues and profits for the seller …
Persistent link: https://www.econbiz.de/10003592986
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Sex hormones and competitive bidding
Schipper, Burkhard - 2012
We correlate competitive bidding and profits in symmetric independent private value first-price auctions with salivary testosterone, estradiol, progesterone, and cortisol in more than 200 subjects. Females bid significantly higher and earn significantly lower profits than males. Moreover,...
Persistent link: https://www.econbiz.de/10009544159
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Call Market Experiments : Efficiency and Price Discovery Through Multiple Calls and Emergent Newton Adjustments
Plott, Charles R. - 2017
We study multiple-unit, laboratory experimental call markets in which orders are cleared by a single price at a scheduled "call." The markets are independent trading "days" with two calls each day preceded by a continuous and public order flow. Markets approach the competitive equilibrium over...
Persistent link: https://www.econbiz.de/10012971806
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Learning in cobweb experiments
Hommes, Cars H.; Sonnemans, Joep; Tuinstra, Jan; … - 2003
from individual expectations. Subjects have no information about underlying market equilibrium equations, but can learn by … stable treatment, rational expectations (RE) yield a good description of observed aggregate price fluctuations: prices remain …
Persistent link: https://www.econbiz.de/10011333266
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Coordination of expectations in asset pricing experiments
Hommes, Cars H.; Sonnemans, Joep; Tuinstra, Jan; … - 2003
We investigate expectation formation in a controlled experimental en-vironment. Subjects are asked to predict the price in a standard asset pricingmodel. They do not have knowledge of the underlying market equilibrium equa-tions, but they know all past realized prices and their own predictions....
Persistent link: https://www.econbiz.de/10011333274
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The influence of empirical and normative expectations on cooperation
Kölle, Felix; Quercia, Simone - 2021 - This version: June 2021
In this paper, we investigate the joint influence of empirical and normative expectations on cooperative behavior. We … norms under the form of normative and empirical expectations. In a situation where individuals can decide conditionally on … regarding others' behavior, empirical and normative expectations diverge substantially. While individuals believe that …
Persistent link: https://www.econbiz.de/10012548861