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disproportionately influential early agents who can cause herding on incorrect actions. Going beyond existing social-learning results, we … compute the probability of such mislearning exactly. This allows us to compare likelihoods of incorrect herding, and hence …
Persistent link: https://www.econbiz.de/10012308406
Some questions in the study of public administration are difficult to answer on the basis of field research. A field of inquiry may be absent, as in the case of research that seeks to explore future outcomes of present policies, or of policies that are still being developed. Another example is...
Persistent link: https://www.econbiz.de/10014196615
We explore the effects of social distance in experiments conducted over the Internet on three continents, in classroom laboratory sessions conducted in Israel and Spain, and in computer sessions pairing participants from different states-one in Texas and the other in California. Our design...
Persistent link: https://www.econbiz.de/10014116419
Departures from "economic man" behavior in many games in which fairness is a salient characteristic are now well documented in the experimental economics literature. These data have inspired development of models of social preferences that assume agents have preferences for equity and efficiency...
Persistent link: https://www.econbiz.de/10014185562
This paper proposes a new method to identify gambler's fallacy (GF) and hot-hand fallacy (HHF). In the classical method, subjects are classified as exhibiting GF/HHF even they are just randomizing/indifferent between options. In our method, subjects play the game twice and we vary the payoff...
Persistent link: https://www.econbiz.de/10012859406
The unravelling prediction of disclosure theory relies on the idea that strategic forces lead firms (information senders) to voluntarily disclose information about the quality of their products provided the information disclosed is verifiable and the costs of disclosure are negligible. This...
Persistent link: https://www.econbiz.de/10012131654
We examine experimentally the impact of communication on trust and cooperation. Our design admits observation of promises, lies, and beliefs. The evidence is consistent with people striving to live up to others' expectations in order to avoid guilt, as can be modeled using psychological game...
Persistent link: https://www.econbiz.de/10014089179
Participants in experimental games typically can only choose actions, without making comments about other participants' future actions. In sequential two-person games, we allow first movers to express a preference between responder choices. We find that responder behavior differs substantially...
Persistent link: https://www.econbiz.de/10014093709
We test an assortative mechanism whereby groups are formed endogenously, through the use of voting. Once formed, groups play a public-goods game, where the social value of an incremental contribution to the group account increases with the size of the group. Societies of nine people are...
Persistent link: https://www.econbiz.de/10014055668
In this paper I investigate the nature of the beliefs which agents must hold (at least implicitly) in order to justify their considering various alternatives, in two distinct settings: the Walrasian model without production (with competitive equilibrium), and the sell-all version of the...
Persistent link: https://www.econbiz.de/10014057698