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experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … line with a reinforcement learning model, we find that subjects who won a random lottery took significantly more risk in a … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
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We study behavior in a search experiment where sellers receive randomized bids from a computer. At any time, sellers …. -- search experiment ; time ; group decision ; gender differences …
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when uninformed traders accumulate experience, though for different reasons. -- bubbles ; information ; experiment …
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policy. -- bargaining experiment ; outside option ; search …
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. The results show that reinforcement learning leads to dynamics similar to those observed in standard public goods games … explained by reinforcement learning. According to our estimates, learning only accounts for 41 percent of the decay in …, differ strongly from the learning dynamics, while a learning model estimated from the limited information treatment tracks …
Persistent link: https://www.econbiz.de/10009735336
Credence goods markets are prone to fraudulent behavior and market inefficiencies due to informational asymmetries between sellers and customers. We examine experimentally the effects of diagnostic uncertainty and insurance coverage on the information acquisition and provision decisions by...
Persistent link: https://www.econbiz.de/10014373468