Similar Search Results

Think twice before running! bank runs and cognitive abilities

Kiss, Hubert János; Rodríguez-Lara, Ismael; … - 2014

We assess the impact of cognitive abilities on withdrawal decisions in a bank-run game. In our setup, depositors choose sequentially between withdrawing or keeping their funds deposited in a common bank. They may observe previous decisions depending on the information structure. Theoretically,...

Persistent link: https://www.econbiz.de/10010429136

Using response times to measure strategic complexity and the value of thinking in games

Gill, David; Prowse, Victoria L. - 2017

Response times are a simple low-cost indicator of the process of reasoning in strategic games (Rubinstein, 2007; Rubinstein, 2016). We leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on...

Persistent link: https://www.econbiz.de/10011607565

Strategic complexity and the value of thinking

Gill, David; Prowse, Victoria - 2022

Response times are a simple low-cost indicator of the process of reasoning in strategic games. In this paper, we leverage the dynamic nature of response-time data from repeated strategic interactions to measure the strategic complexity of a situation by how long people think on average when they...

Persistent link: https://www.econbiz.de/10013191643

Think twice before running! Bank runs and cognitive abilities

Kiss, H. J.; Rodríguez-Lara, Ismael; Rosa-García, A. - In: Journal of behavioral and experimental economics 64 (2016), pp. 12-19

Persistent link: https://www.econbiz.de/10011640364

Identifying the reasons for coordination failure in a laboratory experiment

Külpmann, Philipp; Khantadze, Davit - 2016

experiment. Using cognitive types, we can explain coordination failure in pure coordination games while differentiating between … coordination failure due to first- and higher-order beliefs. In our experiment, around 76% of the subjects have chosen the payoff …We investigate the effect of absence of common knowledge on the outcomes of coordination games in a laboratory …

Persistent link: https://www.econbiz.de/10011537616

The minority game unpacked : coordination and competition in a team-based experiment

Devetag, Giovanna; Pancotto, Francesca; Brenner, Thomas - 2011

conforming to Nash equilibrium behavior. We conduct an experiment on a minority-of-three game in which each player is a team … egocentric instead. Our results contribute to the understanding of coordination dynamics resting on heterogeneity and co …-evolution of decision rules rather than on conformity to equilibrium behavior. In addition, they provide support at the decision …

Persistent link: https://www.econbiz.de/10011734522

More than outcomes : the role of self-image in other-regarding behavior

Matthey, Astrid; Regner, Tobias - 2014

We conduct a modified dictator game in order to analyze the role self-image concerns play in other-regarding behavior. While we generally follow Konow (2000), a cognitive dissonance-based model of other-regarding behavior in dictator games, we relax one of its assumptions as we allow for...

Persistent link: https://www.econbiz.de/10010475637

Cognitive sophistication and deliberation times

Alós-Ferrer, Carlos; Buckenmaier, Johannes - 2019 - Revised version

Differences in cognitive sophistication and effort are at the root of behavioral heterogeneity in economics. To explain this heterogeneity, behavioral models assume that certain choices indicate higher cognitive effort. A fundamental problem with this approach is that observing a choice does not...

Persistent link: https://www.econbiz.de/10012006965

Cognitive abilities and behavioral biases

Oechssler, Joerg (contributor); Roider, Andreas (contributor) - 2008

We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005)...

Persistent link: https://www.econbiz.de/10003747336

Over-confidence and low-cost heuristics : an experimental investigation of choice behavior

Cicognani, Simona; Mittone, Luigi - 2014

order to disentangle different choice dynamics, they devise a laboratory experiment with a novel experimental task in which …

Persistent link: https://www.econbiz.de/10010425055