Dimmig, Anne-Kathrin; Erlei, Mathias - 2012 - First Version: August 2012
uncertainty. We designed a multi-period experiment in which each period consisted of two stages, an R&D phase and a pricing stage …. Participants in the experiment had almost no information about the underlying functions, parameters, and probabilities. Subjects …' behavior in the fundamentally uncertain environment of our experiment may best be characterized as some kind of procedural …
