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Learning direction theory and the winners curse

Selten, Reinhard; Abbink, Klaus; Cox, Ricarda - 2001

We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an … unknown value. A winner s curse phenomenon arises when subjects bid too high and make losses. Learning direction theory can … account for this. However, other influences on behaviour can also be identified. We introduce impulse balance theory to make …

Persistent link: https://www.econbiz.de/10011539130

Learning in networks : an experimental study using stationary concepts

Berninghaus, Siegfried; Neumann, Thomas; Vogt, Bodo - In: Games 5 (2014) 3, pp. 140-159

Our study analyzes theories of learning for strategic interactions in networks. Participants played two of the 2 × 2 games used by Selten and Chmura [1]. Every participant played against four neighbors. As a distinct aspect our experimental design allows players to choose different strategies...

Persistent link: https://www.econbiz.de/10010417115

A Goldsmith Experiment for Learning Money Creation

Pearlman, Sarah - 2012

The paper presents a classroom experiment designed to improve undergraduate students' understanding of how banks create …

Persistent link: https://www.econbiz.de/10013098918

Varieties of Experimentalism

Ansell, Christopher K. - 2016

environmental problems. Yet the meaning of “experiment” varies markedly across these domains. We survey the diversity of …

Persistent link: https://www.econbiz.de/10013006098

Learning, forecasting and optimizing : an experimental study

Te, Bao; Duffy, John; Hommes, Cars H. - 2012

Persistent link: https://www.econbiz.de/10010191021

When speculators meet suppliers : positive versus negative feedback in experimental housing markets

Te, Bao; Hommes, Cars H. - In: Journal of economic dynamics & control 107 (2019), pp. 1-24

Persistent link: https://www.econbiz.de/10012312650

Monetary policy under behavioral expectations : theory and experiment

Hommes, Cars H.; Massaro, Domenico; Weber, Matthias - In: European economic review : EER 118 (2019), pp. 193-212

Persistent link: https://www.econbiz.de/10012263041

Bubbles, crashes and information contagion in large-group asset market experiments

Hommes, Cars H.; Kopányi-Peuker, Anita; Sonnemans, Joep - In: Experimental economics : a journal of the Economic … 24 (2021) 2, pp. 414-433

Persistent link: https://www.econbiz.de/10012544355

Evolutionary selection of forecasting and quantity decision rules in experimental asset markets

Zhu, Jiahua; Te, Bao; Chia, Wai-mun - In: Journal of economic behavior & organization : JEBO 182 (2021), pp. 363-404

Persistent link: https://www.econbiz.de/10012598362

Bubbles, crashes and information contagion in large-group asset market experiments

Hommes, Cars H.; Kopányi-Peuker, Anita; Sonnemans, Joep - 2019

We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants) and large markets (about 100 participants). In...

Persistent link: https://www.econbiz.de/10011979625