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Communication-enhancing vagueness
Wood, Daniel H. - In: Games 13 (2022) 4, pp. 1-27
I experimentally investigate how vague language changes the nature of communication in a biased strategic information transmission game. Counterintuitively, when both precise and imprecise messages can be sent, in aggregate, senders are more accurate, and receivers trust them more than when only...
Persistent link: https://www.econbiz.de/10013367782
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Variety aversion and information overload: An experimental approach
Kaiser, Karen - 2011
This paper analyzes the effect of information overload on preference or aversion for variety. According to the model, a rational decision maker who suffers from information overload, faces a two-stage decision process, and is choosing from a set of unknown goods will find it optimal at some...
Persistent link: https://www.econbiz.de/10010322601
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Variety Aversion and Information Overload: An Experimental Approach
Kaiser, Karen - Banco de México - 2011
This paper analyzes the effect of information overload on preference or aversion for variety. According to the model, a rational decision maker who suffers from information overload, faces a two-stage decision process, and is choosing from a set of unknown goods will find it optimal at some...
Persistent link: https://www.econbiz.de/10009023315
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Dynamic voluntary contribution to a public good : learning to be a free rider
Clemens, Christiane; Riechmann, Thomas - 2001
learning process of purely and impurely altruistic agents and find that in both cases the contribution level converges towards … corresponds to findings from experiments on voluntary contribution to a public good. Crucial determinants of the learning process …
Persistent link: https://www.econbiz.de/10011525818
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Behavioral and experimental macroeconomics and policy analysis : a complex systems approach
Hommes, Cars H. - 2018
This survey discusses behavioral and experimental macroeconomics emphasizing a complex systems perspective. The economy consists of boundedly rational heterogeneous agents who do not fully understand their complex environment and use simple decision heuristics. Central to our survey is the...
Persistent link: https://www.econbiz.de/10011929804
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Nonparametric learning rules from bandit experiments: The eyes have it!
Hu, Yingyao; Kayaba, Yutaka; Shum, Matt - 2010
How do people learn? We assess, in a distribution-free manner, subjects' learning and choice rules in dynamic two …-armed bandit (probabilistic reversal learning) experiments. To aid in identification and estimation, we use auxiliary measures of … subjects' beliefs, in the form of their eye-movements during the experiment. Our estimated choice probabilities and learning …
Persistent link: https://www.econbiz.de/10010277527
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Social and private learning with endogenous decision timing
Jamison, Julian; Owens, David; Woroch, Glenn A. - 2009
effect. Overall we find that social learning, whether or not the behavior of others is truly informative, plays a large role …
Persistent link: https://www.econbiz.de/10003882877
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Social anchor effects in decision-making under ambiguity
Lahno, Amrei M. - 2014
dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …
Persistent link: https://www.econbiz.de/10010364762
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The Right Choice at the Right Time: A Herding Experiment in Endogenous Time
Sgroi, Daniel - Department of Economics, Oxford University - 2000
other, and can delay their decision. Subjects acted rationally, gaining from observational learning, despite penalties for …
Persistent link: https://www.econbiz.de/10010605219
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How Do People Learn by Listening to Others? Experimental Evidence from Thailand
Healy, Andrew - EconWPA - 2005
This paper presents experimental evidence about how individuals learn from information that comes from inside versus outside their ethnic group. In the experiment, Thai subjects observed information that came from Americans and other Thais that they could use to help them answer a series of...
Persistent link: https://www.econbiz.de/10005125584