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We study the impact of advice or observation on the depth of reasoning in an experimental beauty-contest game. Both sources of information trigger faster convergence to the equilibrium. Yet, we find that subjects who receive naïve advice outperform uninformed subjects permanently, whereas...
Persistent link: https://www.econbiz.de/10011350357
dictator game. In our experiment teams are more selfish than individuals, and the most selfish team member has the strongest …
Persistent link: https://www.econbiz.de/10011349704
JMG's ideas of self-fulfilling mistakes. Some of our learning-to-forecast laboratory experiments with human subjects have …This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean …-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of …
Persistent link: https://www.econbiz.de/10011590425
This paper studies network formation in settings where players are heterogeneous with respect to benefits as well as the costs of forming links. Our results demonstrate that centrality, center-sponsorship and short network diameter are robust features of equilibrium networks. We find that in a...
Persistent link: https://www.econbiz.de/10011326943
Persistent link: https://www.econbiz.de/10010191021
-making experiment preceding the take game. The gameconsists of two stages. In the first stage, the take authority decides howmuch income …
Persistent link: https://www.econbiz.de/10011301155
We examine the force of three types of behavioral dynamics in quantity-setting triopoly experiments:mimicking the … successful firm,following the exemplary firm, andbelief learning.Theoretically, these three rules of dynamic conduct lead to the … competitive, the collusive, and the Cournot-Nash outcome, respectively. In the experiment we employ three information treatments …
Persistent link: https://www.econbiz.de/10010371113
We investigate experimentally whether emotions affect bidding behavior in a firstprice auction. To induce emotions, we confront subjects after a first auction series with apositive or negative random economic shock. We then explore the relation between emotions andbidding behavior in a second...
Persistent link: https://www.econbiz.de/10011333886
size of credible deviations. ACDC organizes the results from several cheap talk experiments in which behavior converged to …
Persistent link: https://www.econbiz.de/10010477113
the size of credible deviations. In our experiment, we find support for the relevance of credible deviations. In addition … experiments. …
Persistent link: https://www.econbiz.de/10011383193