A monopolist offers a product to a market of consumers with heterogeneous quality preferences. Although initially uninformed about the product quality, they learn by observing past purchase decisions and reviews of other consumers. Our goal is to analyze the social learning mechanism and its...

We consider the optimization problem of a decision maker facing a sequence of coin tosses with an initially unknown probability Θ for heads. Before each toss she bets on either heads or tails and she wins one euro if she guesses correctly, otherwise she loses one euro. We investigate the effect...

We experimentally explore the effects of time pressure on decision making. Under different time allowance conditions, subjects are presented with a queueing situation and asked to join one of two queues that differ in length, server speed, and entry fee. The results can be grouped under two main...

We consider a repeated game where at each stage players simultaneously choose one of the two rooms. The players who choose the less crowded room are rewarded with one euro. The players in the same room do not recognize each other, and between the stages only the current majority room is publicly...

In this paper we study some stochastic orders of positive dependence that arise when the underlying random vectors are ordered with respect to some multivariate hazard rate stochastic orders, and have the same univariate marginal distributions. We show how the orders can be studied by...

In this paper the meaning of the stochastic ordering relation is studied when the random vectors which are compared are assumed to be permutation symmetric. It is shown that in order to establish the stochastic ordering relation between two such random vectors it is enough to consider only upper...

We provide a simple characterization of the zonoid, lift zonoid, Lorenz zonoid of a random vector, as defined by Koshevoy and Mosler (J. Amer. Statist. Assoc. 91 (1996) 873; Bernoulli 4 (1998) 377). This characterization allows a direct use of Lyapunov's theorem on the range of nonatomic vector...