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Why do people pay for useless advice? Implications of gambler's and hot-hand fallacies in false-expert setting
Powdthavee, Nattavudh; Riyanto, Yohanes E. - 2012
We investigated experimentally whether people can be induced to believe in a non-existent expert, and subsequently pay for what can only be described as transparently useless advice about future chance events. Consistent with the theoretical predictions made by Rabin (2002) and Rabin and Vayanos...
Persistent link: https://www.econbiz.de/10010282207
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Why Do People Pay for Useless Advice?
Powdthavee, Nattavudh; Riyanto, Yohanes E. - Centre for Economic Performance, LSE - 2012
We investigated experimentally whether people can be induced to believe in a non-existent expert, and subsequently pay for what can only be described as transparently useless advice about future chance events. Consistent with the theoretical predictions made by Rabin (2002) and Rabin and Vayanos...
Persistent link: https://www.econbiz.de/10010554888
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Information and competition entry
Ewers, Mara - 2012
This paper studies the influence of information on entry choices in a competition with a controlled laboratory … experiment. We investigate whether information provision attracts mainly high productivity individuals and reduces competition … productivity. Information on the opponent is a promising nudge to raise individuals' awareness towards the complexity of the …
Persistent link: https://www.econbiz.de/10010282257
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Asymmetric information in simple bargaining games: An experimental study
Klempt, Charlotte; Pull, Kerstin; Stadler, Manfred - 2017
of asymmetric information on proposer behavior in two different situations which allow for a variation of responder veto … compared to the dictator game is (marginally) smaller when the proposer is in the superior information position. Further we …
Persistent link: https://www.econbiz.de/10011627980
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Are people conditionally honest? The effects of stakes and information about others' behavior
Necker, Sarah; Le Maux, Benoit; Masclet, David - 2020
We study theoretically and empirically how monetary incentives and information about others' behavior affects … decrease when stakes are very high. On average, information about others slightly increases the fraction of liars but has no … effect on the size of the lie. Distinguishing subjects by their belief on others' behavior, we find that information …
Persistent link: https://www.econbiz.de/10012287866
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Can we manage first impressions in cooperation problems? An experimental study on "Broken (and Fixed) Windows"
Engel, Christoph; Kube, Sebastian; Kurschilgen, Michael - 2011
information about (un)cooperative behavior in other, unrelated, groups. We observe that contributions are considerably sensitive … to such selective information. First impressions participants happen to make predict subsequent behavior. Our results …
Persistent link: https://www.econbiz.de/10010281841
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Information and competition entry
Ewers, Mara - 2012
This paper studies the influence of information on entry choices in a competition with a controlled laboratory … experiment. We investigate whether information provision attracts mainly high productivity individuals and reduces competition … productivity. Information on the opponent is a promising nudge to raise individuals' awareness towards the complexity of the …
Persistent link: https://www.econbiz.de/10009534049
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Are people conditionally honest? : the effects of stakes and information about others' behavior
Le Maux, Benoît; Masclety, David; Necker, Sarah - 2020 - Preliminary draft
We study theoretically and empirically how monetary incentives and information about others' behavior affects … decrease when stakes are very high. On average, information about others slightly increases the fraction of liars but has no … effect on the size of the lie. Distinguishing subjects by their belief on others' behavior, we find that information …
Persistent link: https://www.econbiz.de/10012422359
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The value of verbal feedback in allocation decisions
Schmidt, Robert J.; Schwieren, Christiane; Vollmann, Martin - 2020
Depending on the context at hand, people's preference for receiving feedback might differ. Especially in allocation decisions that directly concern another individual, feedback from the affected person can have positive or negative value. We study such preferences in a laboratory experiment by...
Persistent link: https://www.econbiz.de/10012169494
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Asymmetric information in simple bargaining games : an experimental study
Klempt, Charlotte; Pull, Kerstin; Stadler, Manfred - 2017
of asymmetric information on proposer behavior in two different situations which allow for a variation of responder veto … compared to the dictator game is (marginally) smaller when the proposer is in the superior information position. Further we …
Persistent link: https://www.econbiz.de/10011623050