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factors, we find robust effects for the social anchor, an increased bias for higher cognitive load, and only weak learning …
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The social world is often portrayed as being less predictable and more uncertain than the nonsocial world. People may therefore feel the need to search more for information before making a choice. However, we suggest that cognitive tools such as social projection and norm-based expectation may...
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Motivating Examples -- Decision-Theoretic Framework -- Belief Operators -- Basic Characterizations -- Relaxing Completeness -- Backward Induction -- Sequentiality -- Quasi-Perfectness -- Properness -- Capturing forward Induction through Full Permissibility -- Applying Full Permissibility to...
Persistent link: https://www.econbiz.de/10014015098
We study a duel game in which each player has incomplete knowledge of the game parameters. We present a simple, heuristically motivated and easily implemented algorithm by which, in the course of repeated plays, each player estimates the missing parameters and consequently learns his optimal...
Persistent link: https://www.econbiz.de/10015271702
understand better how subjects with different cognitive abilities learn differently, we estimate a structural model of learning … ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable …
Persistent link: https://www.econbiz.de/10010364492
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Using belief elicitation, the paper investigates the formation and the evolution of beliefs in a signalling game in which a common prior on Sender's type is not induced. Beliefs are elicited about the type of the Sender and about the strategies of the players. The experimental subjects often...
Persistent link: https://www.econbiz.de/10009535526
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