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This paper empirically analyzes how performance feedback and information on heterogeneity affect behavior in dynamic contests, using data on two-player-contests from a smartphone/tablet application called ``Wordblitz for Friends''. We find that players increase output as underdogs and decrease...
Persistent link: https://www.econbiz.de/10010487265
results are extended to a model of learning, in which type k plays a k times iterated best response the average of past play … Reasoning ; Evolution ; Learning ; Level-k ; Fictitious Play ; Cognitive Hierarchy …
Persistent link: https://www.econbiz.de/10003963449
Economic experiments conducted in laboratories employing an induced-values methodology can report on allocative efficiencies observed. This methodology is limited by requiring the experimenter to know subjects' motivations, an impossibility in field experiments. Allocative efficiency implies a...
Persistent link: https://www.econbiz.de/10009314483
men without the element of direct competition, which allows for the identification of psychological effects of competition …
Persistent link: https://www.econbiz.de/10011531865
We provide an axiomatic approach to a belief formation process in an informational environment characterized by limited, heterogenous and differently precise information. For a list of previously observed cases an agent needs to express her belief by assigning probabilities to possible outcomes....
Persistent link: https://www.econbiz.de/10010356678
Persistent link: https://www.econbiz.de/10010343540
We study the impact of advice or observation on the depth of reasoning in an experimental beauty-contest game. Both sources of information trigger faster convergence to the equilibrium. Yet, we find that subjects who receive naïve advice outperform uninformed subjects permanently, whereas...
Persistent link: https://www.econbiz.de/10011350357
Persistent link: https://www.econbiz.de/10011901533
When agents face coordination problems their choices often impose externalities on third parties. We investigate whether such externalities can affect equilibrium selection in a series of one-shot coordination games varying the size and the sign of the externality. We find that third-party...
Persistent link: https://www.econbiz.de/10010189325
We test the proposition that individuals may experience a self-control conflict between short-term temptation to be selfish and better judgment to act pro-socially. Using a dictator game and a public goods game, we manipulated the likelihood that individuals identified self-control conflict, and...
Persistent link: https://www.econbiz.de/10008699659