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We report the findings of experiments designed to study how people learn in network games. Network games offer new opportunities to identify learning rules, since on networks (compared to, e.g., random matching) more rules differ in terms of their information requirements. Our experimental...
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Focusing on sellers’ pricing decisions and the ensuing seller-buyer interactions, we report an experiment on dynamic … deviations from equilibrium benchmarks on both sides of the market. Specifically, in our experiment the sellers are boundedly …
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and in a laboratory experiment. Our theoretical results suggest that in a setting where the buyer and the suppliers have …
Persistent link: https://www.econbiz.de/10012167341
The goal of this paper is to show how adding behavioral components to micro-foundated models of macroeconomics may contribute to a better understanding of real world phenomena. The authors introduce the reader to variations of the Keynesian Beauty Contest (Keynes, The General Theory of...
Persistent link: https://www.econbiz.de/10012120039
In experimental games, a substantial minority of players often fail to best respond. Using two-person 3x3 one-shot games, we investigated whether 'structuring' the pre-decision deliberation process produces greater consistency between individuals' stated values and beliefs on the one hand and...
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This paper is a partial review of the literature on ‘social preferences'. There are empirical findings that convincingly demonstrate the existence of social preferences, but there are also studies that indicate their fragility. So how robust are social preferences, and how exactly are they...
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