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players realize that their own actions modify their opponent's beliefs and actions, they might play certain actions to this … their beliefs in order to take account of the reaction of their opponents to their own action. Second, we examine if players …
Persistent link: https://www.econbiz.de/10005696779
different determinants of the choice to enter a competition : beliefs and the competition level. As far as entry in the … information on their own performance while men seem to respond more to their beliefs concerning the level of the competition they … will be evolving in. Finally, both men and women deviate from their bayesian beliefs and become too pessimistic (optimistic …
Persistent link: https://www.econbiz.de/10010593069
In an often quoted article, Genesove and Mayer (2001) observe that house sellers are reluctant to sell at a loss, and attribute this finding to loss aversion. I show that loss aversion cannot explain this phenomenon
Persistent link: https://www.econbiz.de/10010607677
I show that a loss averse consumer who must share her budget between two goods prefer allocations for which consumption equals reference point for at least one good. The phenomenon intensity depends on the curvature of the utility curve. These results are consistent with several stylized facts...
Persistent link: https://www.econbiz.de/10010640972
This paper uses a large dataset, covering more than 70% of the Dutch housing market, to analyze the relationship between market thinness, price setting behavior and time to sell. Our findings confirm the typical result that overpricing increases the time on market. In addition, we find evidence...
Persistent link: https://www.econbiz.de/10005021841
This article investigate the role of social influence for the expectation formation of economic agents. Using self-organizing Kohonen maps the repeated cross-section data set of the University of Michigan consumer survey is transformed into a pseudo panel allowing to monitor the expectation...
Persistent link: https://www.econbiz.de/10010739860
A limited understanding of mortgage contracts and the risks involved may have contributed to the origination of the financial crisis. We have designed a special questionnaire to relate mortgage loan decisions to financial literacy and financial advice. Our findings show that homeowners seem well...
Persistent link: https://www.econbiz.de/10011079888
different beliefs about how policy choices will map into future economic outcomes. We show that when the incumbent party can …-serving behavior by political parties, but rather stems from their differing beliefs about the consequences of their actions. …
Persistent link: https://www.econbiz.de/10010791257
, within a standard New Keynesian model, by means of laboratory experiments with human subjects. We find that a more aggressive … the laboratory experiments. Three aggregate outcomes are observed: convergence to some equilibrium level, persistent …
Persistent link: https://www.econbiz.de/10009144151
We report in this paper the result of three experiments on risk, ambiguity and time attitude. The first two differed by …
Persistent link: https://www.econbiz.de/10004991603