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In our laboratory experiment, subjects, in sequence, have to predict the value of a good. We elicit the second subject … generalization of the Maximum Likelihood Updating rule. In another experiment, we directly test this theory and find support for it. …
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In our laboratory experiment, subjects, in sequence, have to predict the value of a good. The second subject in the … another experiment, we directly test the LRTU model and find support for it. …
Persistent link: https://www.econbiz.de/10012404054
Persistent link: https://www.econbiz.de/10012817415
We present a novel experimental design to study social learning in the laboratory. Subjects have to predict the value of a good in a sequential order. We elicit each subject's belief twice: first ("prior belief"), after he observes his predecessors' action; second ("posterior belief"), after he...
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We present a social learning experiment in which subjects predict the value of a good in sequence. We elicit each …'s rationality) and a generalization of the Maximum Likelihood Updating rule. Our experiment allows for a better understanding of the …
Persistent link: https://www.econbiz.de/10011625815
decision making: the redundancy of information neglect model and the overconfidence model. The results of our experiment are in …We study social learning in a continuous action space experiment. Subjects, acting in sequence, state their belief …
Persistent link: https://www.econbiz.de/10011663632