. Messages affect wages because employees give managers advice to set higher wages, usually explaining that this will result in … higher effort. This advice prompts managers to try higher wages, helping them learn that raising wages increases their … the critical role of learning in generating gains from positive gift exchange. Copyright Economic Science Association 2013 …

-maximizing choice. Previous experimental studies have shown that individual learning reduces the incidence of irrational choices …

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 naive advice …

This paper analyzes the incentives of a seller to provide (un)biased and (im)precise advice about a complex product … such as insurance, banking and telecommunication services. Misleading the buyers by biasing the advice upwards increases … the revenues but also the expected fine imposed by the authority. Making the advice less precise does not affect the …

Six experiments investigated how the distance between one's initial opinion and advice relates to advice utilization …. Going beyond previous research, we relate advice distance to both relative adjustments and absolute adjustments towards the … advice, and we also investigate a second mode of advice utilization, namely confidence shifts due to social validation …