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Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10010211474
Two pairs of two participants each interact repeatedly in two structurally independent but informationally linked Prisonerś Dilemma games. Neither pair receives feedback about past choices by their own partner but is fully informed about the choices by the other pair. Considering this as a...
Persistent link: https://www.econbiz.de/10010252395
We report the results of a combination of a dictator experiment with either a "social planner" or a "veil of ignorance …" experiment. The experimental design and the analysis of the data are based on the theoretical framework proposed in the companion … experiments by a combination of selfishness and concerns for distributive justice. Most participants conform very well with the …
Persistent link: https://www.econbiz.de/10010370990
We present an experiment to investigate the source of disappointment aversion in a sequential real-effort competition … Prowse experiment, where the latter treatment removes the scope for social comparisons. If disappointment aversion simply …
Persistent link: https://www.econbiz.de/10011658021
We conduct a laboratory experiment to shed light on the cognitive limitations that may affect the way decision makers …
Persistent link: https://www.econbiz.de/10011586279
It has been argued that guilt aversion (the aversion to violate others' expectations) and the compliance to descriptive social norms (the aversion to act differently than others in the same situation) are important drivers of human behavior. We show in a formal model that both motives are...
Persistent link: https://www.econbiz.de/10011825251
returned. -- social preferences ; other-regarding behaviour ; experiments ; trust game ; guilt aversion ; beliefs …
Persistent link: https://www.econbiz.de/10008689019
-awareness ; self-deception ; experiment ; beliefs …
Persistent link: https://www.econbiz.de/10009567101
Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers nevertheless the self-selected portfolio. After being randomly assigned to groups of four...
Persistent link: https://www.econbiz.de/10011408429
the relevant predictions, which are then tested in pre-registered lab-in-the-field experiments from villages in the Indian …
Persistent link: https://www.econbiz.de/10013472415