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Cross-Game Learning and Cognitive Ability in Auctions
Giebe, Thomas; Kocher, Martin G.; Schudy, Simeon; … - 2021
study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account cognitive skills … losses from high bids are more salient than in SPAs. Experience in FPAs causes substantial cross-game learning for … bid shading by cognitively more able participants, resulting in lower profits in FPAs. Thus, cross-game learning has the …
Persistent link: https://www.econbiz.de/10013314693
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Decision and Strategies in a Sequential Search Experiment
Sonnemans, Joep - Tinbergen Instituut - 1998
The strategy method is becoming an important tool in experimentalmethodology. This study examines how well this method works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice solving the problem andformulating strategies, they play...
Persistent link: https://www.econbiz.de/10011256616
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Probability Compounding in Words and in Practice
Zizzo, Daniel John - Department of Economics, Oxford University - 2002
The conjunction fallacy occurs whenever probability compounds are thought of as more likely than its component probabilities alone. In the experiment we present, subjects chose between simple and compound lotteries after some practice. Depending on the condition, they were given more or less...
Persistent link: https://www.econbiz.de/10010605216
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Bubbles, crashes and information contagion in large-group asset market experiments
Hommes, Cars H.; Kopányi-Peuker, Anita; Sonnemans, Joep - 2019
We study the emergence of bubbles in a laboratory experiment with large groups of individuals. The realized price is the aggregation of the forecasts of a group of individuals, with positive expectations feedback through speculative demand. When prices deviate from fundamental value, a random...
Persistent link: https://www.econbiz.de/10012114769
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Decision and Strategies in a Sequential Search Experiment
Sonnemans, Joep - 1998
The strategy method is becoming an important tool in experimentalmethodology. This study examines how well this method works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice solving the problem andformulating strategies, they play...
Persistent link: https://www.econbiz.de/10010324683
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Time Pressure and Regret in Sequential Search
Klimm, Felix; Kocher, Martin G.; Optiz, Timm; Schudy, … - 2021
Perceived urgency and regret are common in many sequential search processes; for example, sellers often pressure buyers in search of the best offer, both time-wise and in terms of potential regret of forgoing unique purchasing opportunities. Theoretically, these strategies result in anticipated...
Persistent link: https://www.econbiz.de/10012599209
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Cross-Game Learning and Cognitive Ability in Auctions
Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin G. - 2021
study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account cognitive skills … losses from high bids are more salient than in SPAs. Experience in FPAs causes substantial cross-game learning for … bid shading by cognitively more able participants, resulting in lower profits in FPAs. Thus, cross-game learning has the …
Persistent link: https://www.econbiz.de/10012799696
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Cross-game Learning and Cognitive Ability in Auctions
Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin G. - 2022
ability. We study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account …-game learning for cognitively less able participants but does not affect overbidding for the cognitively more able. Vice versa …, 'cross-game learning' may rather be understood as 'cross-game transfer', as it has the potential to benefit bidders with …
Persistent link: https://www.econbiz.de/10014467730
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Time Pressure and Regret in Sequential Search
Klimm, Felix; Kocher, Martin G.; Opitz, Timm; Schudy, Simeon - 2022
Perceived urgency and regret are common in many sequential search processes; for example, sellers often pressure buyers in search of the best offer, both time-wise and in terms of potential regret of forgoing unique purchasing opportunities. theoretically, these strategies result in anticipated...
Persistent link: https://www.econbiz.de/10014467769
Cover Image
Decision and Strategies in a Sequential Search Experiment
Sonnemans, Joep - Tinbergen Institute - 1998
The strategy method is becoming an important tool in experimental methodology. This study examines how well this method works in an individual decision experiment. Subjects are faced with a sequential search problem. After extensive practice solving the problem and formulating strategies, they...
Persistent link: https://www.econbiz.de/10005136978