How can naivete about present bias persist despite experience? To answer this question, our experiment investigates … the nature of the task at the second date further shows that learning is unencumbered by a change in environment. Our …

We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an … unknown value. A winner s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can … quantitative predictions on the basis of learning direction theory. We also look at monotonic ladder processes. It is shown that …

strategy relative to more traditional learning dynamics, and establish that, paradoxically, when sellers are strategic, the …