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Kamei, Kenju - In: Economics Letters 124 (2014) 2, pp. 199-202

We elicit human conditional punishment types by conducting experiments. We find that their punishment decisions to an …

Persistent link: https://www.econbiz.de/10010933289

A strategic mediator who is biased in the same direction as the expert can improve information transmission

Mechtenberg, Lydia; Münster, Johannes - In: Economics Letters 117 (2012) 2, pp. 490-492

We model strategic mediation of the communication between an informed expert with a discrete type space and an … uninformed decision maker. A strategic mediator can improve communication even when he is biased into the same direction as the …

Persistent link: https://www.econbiz.de/10011041620

Endogenous cartel formation: Experimental evidence

Fonseca, Miguel A.; Normann, Hans-Theo - In: Economics Letters 125 (2014) 2, pp. 223-225

In a Bertrand-oligopoly experiment, firms choose whether or not to engage in cartel-like communication and, if so, they …

Persistent link: https://www.econbiz.de/10011076534

A note on endogenous norms in a theory of conformity

Gillen, Benjamin J. - In: Economics Letters 129 (2015) C, pp. 57-61

Trendsetters wish to be perceived as the type that defines normative behavior. Incorporating norm formation in Bernheim (1994)’s model yields equilibria with social considerations concentrating behavior, allowing multiple conformist pools. Refinements link each pooling equilibrium to a unique...

Persistent link: https://www.econbiz.de/10011263424

Disclosure policy in a multi-prize all-pay auction with stochastic abilities

Fu, Qiang; Jiao, Qian; Lu, Jingfeng - In: Economics Letters 125 (2014) 3, pp. 376-380

This paper investigates whether a contest organizer should disclose private information about bidders’ abilities in a multi-prize all-pay auction. Bidders’ abilities are randomly distributed and observed by the contest organizer; the organizer decides whether to disclose this information...

Persistent link: https://www.econbiz.de/10011116211

Determinacy and e-stability under reduced-form learning

Cho, Seonghoon - In: Economics Letters 128 (2015) C, pp. 69-71

Under reduced-form learning, agents are endowed with an aggregate model, and rational expectations are then replaced with subjective expectations. This paper demonstrates that the reduced-form learning approach may be arbitrary in that a particular representation of aggregate dynamics has...

Persistent link: https://www.econbiz.de/10011208459

Does displaying probabilities affect bidding in first-price auctions?

Ratan, Anmol - In: Economics Letters 126 (2015) C, pp. 119-121

“Overbidding” with respect to risk-neutral Nash predictions in first-price auction experiments has been consistently … reported in the literature. One possible explanation for overbidding is that participants in these experiments do not have a … experiments, which suggest that displaying probabilities could reduce the extent of overbidding. …

Persistent link: https://www.econbiz.de/10011189538

Evidence that waste aversion begets insurance aversion

de Meza, David; Reyniers, Diane; Fessner, Liza C. - In: Economics Letters 126 (2015) C, pp. 75-77

Paying an insurance premium but not needing to claim is sometimes viewed as pouring money down the drain. Aversion to the perceived waste may lead to the rejection of fair insurance. Although policies paying rebates if no claim is made are not attractive to expected utility maximisers, this...

Persistent link: https://www.econbiz.de/10011189550

A note on coupled lotteries

Adam, Marc T.P.; Kroll, Eike B.; Teubner, Timm - In: Economics Letters 124 (2014) 1, pp. 96-99

We study the impact of coupling a decision maker’s lottery payoffs to those of a peer on the preferred level of risk by means of a lab experiment. Compared to the benchmark where the lotteries are paid off individually, symmetrically coupled payoffs increase the willingness to take risks,...

Persistent link: https://www.econbiz.de/10010784994

Saddlepath learning, MSV learning and consistency of subjective expectations

Cho, Seonghoon - In: Economics Letters 125 (2014) 2, pp. 319-322

Ellison and Pearlman (2011) show that determinacy implies e-stability under both full and lagged information if (1) subjective expectations are consistent with a structural model and unbiased, and (2) a learning process is given by the saddlepath relationship. This study clarifies that their...

Persistent link: https://www.econbiz.de/10011076541

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