In a laboratory experiment, we compare two auction mechanisms that determine the sequence of service to queued customers. In the server-initiated auction, the server, when idle, sells the right to be served next to the highest bidding customer in the queue and distributes the proceeds among the...

Game-theoretic models of learning are hard to study even in the laboratory setting due to econometric and practical concerns (like the limited length of an experimental session).In particular, as the simulations by (Salmon, 2001) show, in a cross-model (or "blind'') testing of several models,...

Studies show that people tend to provide overly narrow confidence intervals for unknown values. Such a form of overconfidence would have an important impact on financial markets, among other domains, leading i.a. to excessive trading. The present study is one of the very few that try to...

In content- and knowledge-based recommender systems often a measure of (dis)similarity between products is used. Frequently, this measure is based on the attributes of the products. However, which attributes are important for the users of the system remains an important question to answer. In...

When individuals take part in decision experiments, their answers are typically subject to some degree of noise / error / imprecision. There are different ways of modelling this stochastic element in the data, and the interpretation of the data can be altered radically, depending on the...

This paper develops a finite mixture distribution analysis of Beauty-Contest data obtained from diverse groups of experiments. ML estimation using the EM approach provides estimates for the means and variances of the component distributions, which are common to all the groups, and estimates of...

Electronic recommendation agents have the potential to be valuable e-service tools in increasing consumer decision quality. Such agents are aimed at assisting consumers in the decision-making process and have the ability to enable consumers to make better choices for themselves. The definition...

Reliability coefficients indicate the proportion of total variance due to differences not attributable to error among measures separated along a quantitative continuum by a testing, survey, or assessment instrument. Person score or measure reliability is influenced by both the internal...

This paper introduces a mixture model based on the beta distribution, without preestablished means and variances, to analyze a large set of Beauty-Contest data obtained from diverse groups of experiments (Bosch-Domenech et al. 2002). This model gives a better t of the experimental data, and more...