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works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice …
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We study a model of collective decision making with endogenous information collection.Agents collect information about … decision is made. The reason for this result is that communicationmay aggravate the free-rider problem associated with …
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agents can learn the Nash equilibrium in the repeated game and compare the results to an experiment. We find subjects …
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In repeated number guessing games choices typically converge quickly to the Nash equilibrium. In positive expectations feedback experiments, however, convergence to the equilibrium price tends to be very slow, if it occurs at all. Both types of experimental designs have been suggested as...
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