We present the results of an experiment on learning in a continuous-time low-information setting. For a dominance solvable version of a Cournot oligopoly with differentiated products, we find little evidence of convergence to the Nash equilibrium. In an asynchronous setting, characterized by...

We examine theoretically and experimentally two countervailing effects of industry concentration in common value auctions. Greater concentration of information among fewer bidders reduces competition but increases the precision of private estimates. We demonstrate that this generally leads to...

Previous studies have demonstrated that a multitude of options can lead to choice overload, reducing decision quality. Through controlled experiments, we examine sequential choice architectures that enable the choice set to remain large while potentially reducing the effect of choice overload. A...

The development of the World Wide Web has created opportunities for malicious agents to attack information assets on an unprecedented scale. Harmful applications such as viruses and spyware can cause significant financial loss as well as other negative consequences. Software products with larger...

A firm may strategically decrease capacity to gain bargaining power over its suppliers. While traditional models of bargaining imply that the incentive to do so is minimal, I report results from a laboratory experiment that suggest the existence of incentives to decrease capacity quite...

Social sharing of information goods — wherein a single good is purchased and shared through a network of acquaintances such as friends or coworkers — is a significant concern for the providers of these goods. The effect of social sharing on firm pricing and profits depends critically on two...

Using controlled experiments, we examine how individuals make choices when faced with multiple options. Choice tasks are designed to mimic the selection of health insurance, prescription drug, or retirement savings plans. In our experiment, available options can be objectively ranked allowing us...

While many learning models have been proposed in the game theoretic literature to track individuals' behavior, surprisingly little research has focused on how well these models describe human adaptation in changing dynamic environments. This paper evaluates several learning models in light of a...

We examine in controlled experiments how individuals make choices when faced with multiple options. The choice tasks mimic the selection of health insurance, prescription drug, or retirement savings plans. However, in our experiment, the available options can be objectively ranked. We find that...