This paper presents a non-Bayesian model of social learning in networks in an environment with a finite set of actions. We conduct a laboratory experiment in which participants play an urn-guessing game over several decision rounds while observing the previous choices of the network members to...

This paper proposes a methodology to implement probabilistic belief elicitation in continuous-choice games. Representing subjective probabilistic beliefs about a continuous variable as a continuous subjective probability distribution, the methodology involves eliciting partial information about...

We study first- and second-order subjective expectations (beliefs) in strategic decision making. We propose a method to elicit probabilistically both first- and second-order beliefs and apply the method to a Hide-and-Seek experiment. We study the relationship between choice and beliefs in terms...

It is commonly thought that a picture is worth a thousand words. If that is so, one might ask how much data is a piece of advice worth. In other words, if advice is important than we should be able to measure it in two ways: How much data would a rational decision maker be willing to give up in...