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Sahm, Marco; Weizsäcker, Robert K. von - 2014 - This version: December 4, 2014

We study the influence of reason and intuition on decision making over time. Facing a sequence of similar problems …, agents can either decide rationally according to expected utility theory or intuitively according to case-based decision …

Persistent link: https://www.econbiz.de/10010464891

Bandit with similarity information

Radoc, Benjamin - 2020

Persistent link: https://www.econbiz.de/10013272111

Cautious belief formation

Bleile, Jörg - 2014

We provide an axiomatic approach to a belief formation process in an informational environment characterized by limited, heterogenous and differently precise information. For a list of previously observed cases an agent needs to express her belief by assigning probabilities to possible outcomes....

Persistent link: https://www.econbiz.de/10010356678

Categorization and coordination

Daskalova, Vessela; Vriend, Nicolaas J. - 2014

The use of coarse categories is prevalent in various situations and has been linked to biased economic outcomes, ranging from discrimination against minorities to empirical anomalies in financial markets. In this paper we study economic rationales for categorizing coarsely. We think of the way...

Persistent link: https://www.econbiz.de/10010353550

Estimating case-based learning

Guilfoos, Todd; Pape, Andreas D. - In: Games 11 (2020) 3/38, pp. 1-25

We propose a framework in order to econometrically estimate case-based learning and apply it to empirical data from twelve 2 × 2 mixed strategy equilibria experiments. Case-based learning allows agents to explicitly incorporate information available to the experimental subjects in a simple,...

Persistent link: https://www.econbiz.de/10012432206

Belief formation and belief updating under ambiguity : evidence from experiments

Li, Wenhui; Wilde, Christian - 2020

Decisions under ambiguity depend on the beliefs regarding possible scenarios and the attitude towards ambiguity. This paper exclusively focuses on beliefs, and beliefs are measured independently from attitudes, in contrast to many previous studies. We use laboratory experiments to estimate the...

Persistent link: https://www.econbiz.de/10012303335

Belief formation and belief updating under ambiguity : evidence from experiments

Li, Wenhui; Wilde, Christian - 2021

This paper investigates beliefs in an ambiguous environment. In contrast to many previous studies, the beliefs regarding possible scenarios are measured independently from attitudes. We use laboratory experiments to estimate the entire distribution of subjective beliefs and examine how beliefs...

Persistent link: https://www.econbiz.de/10012432016

Testing for Fictive Learning in Decision-Making Under Uncertainty

Bunn, Oliver D. - 2013

are lotteries where the relative frequencies of outcomes are not known or may not exist. The trials in each experiment are … process used to generate the relative frequencies of the payoffs of the ambiguous lotteries. In the first experiment, the … ambiguous lotteries. In the second experiment the sample averages do not converge.If we define fictive learning in an experiment …

Persistent link: https://www.econbiz.de/10013084883

Bandit Problems

Bergemann, Dirk - 2006

problem is a statistical decision model of an agent trying to optimize his decisions while improving his information at the …

Persistent link: https://www.econbiz.de/10012783296

Learning, experimentation and the convergence of the discovered preferences

Kapera, Marek - 2024

Persistent link: https://www.econbiz.de/10014636278