expectations rule. Subjects are less likely to make conditionally optimal production decision for given forecasts in treatment 3 …

. Subjects are less likely to make conditionally optimal production decision for given forecasts in treatment 3) where the …

survey on methodological points, with particular attention to the role of experiments within theoretical and empirical … scholarship, the core ingredients of a well done experiment, and common distinctions between experimental economics and other …

JMG's ideas of self-fulfilling mistakes. Some of our learning-to-forecast laboratory experiments with human subjects have …This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean …-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of …

This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The … order to disentangle different choice dynamics, they devise a laboratory experiment with a novel experimental task in which …

overconfidence. Cognitive uncertainty represents a decision maker's uncertainty about her action optimality. We present a simple …

shocks and investigates whether such biases affect firms’ decision-making in the future. We use unique administrative survey … rigid response to learning new information in the huge unexpected changes. Specifically, before the exogenous shock, overall … bias in managerial cognition diminished when uncertainty decreases. We show the existence of moderates and an anchoring …

when they make stock recommendations. Our empirical results support the herding hypothesis. Stock price reactions following …