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Wakolbinger, Florian; Haigner, Stefan Daniel - In: Economics Bulletin 29 (2009) 3, pp. 1653-1669

We examine peer effects in a tax-evasion experiment where subjects receive either advice or compliance data from …. Receiving advice or compliance data from the pool of low-compliance participants yields the lowest compliance rates. We show … that advice has a slightly bigger impact than observing the compliance of others and that subjects focus on payoff …

Persistent link: https://www.econbiz.de/10008563050

Do investors optimize, follow heuristics, or listen toexperts?

Gehring, Thomas; Güth, Werner; Levinsky, Rene; Popova, Vera - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

investments in all assets? Further, will agentswith probability information be asked and paid for advice on how to invest … agents do notinvest according to the 1=n-heuristic. Advice is demanded and readily paidfor. Surprisingly, clients do not …

Persistent link: https://www.econbiz.de/10005866439

Strategies of Survival in Dynamic Asset Market Games

Evstigneev, Igor’ V.; Amir, Rabah; Xu, Le - Swiss National Centre of Competence in Research North … - 2008

The paper examines a game-theoretic evolutionary model of a -nancial market with endogenous equilibrium asset prices. Assetspay dividends that are partially consumed and partially rein-vested. The traders use general, adaptive strategies (portfoliorules), distributing their wealth between...

Persistent link: https://www.econbiz.de/10005868839

Asset Market Games of Survival

Amir, Rabah; Evstigneev, Igor’ V.; Schenk-Hoppé, Klaus R. - 2009

The paper examines a game-theoretic model of a nancial market inwhich asset prices are determined endogenously in terms of short-runequilibrium. Investors use general, adaptive strategies depending onthe exogenous states of the world and the observed history of thegame. The main goal is to...

Persistent link: https://www.econbiz.de/10005868841

Strategic Responses to Algorithmic Recommendations: Evidence from Hotel Pricing

Garcia, Daniel; Tolvanen, Juha; Wagner, Alexander K. - 2023

We study the interaction between algorithmic advice and human decisions using high-resolution hotel-room pricing data … interest with the algorithmic advisor. A model of advice with costly price adjustments shows that, in equilibrium, algorithmic …

Persistent link: https://www.econbiz.de/10014469708

Numerical Solution of the Game of Two Carswith a Neurosimulator and Grid Computing

Mettenheim, Hans-Jörg von - Institut für Wirtschaftsinformatik <Hannover> - 2009

The famous game of two cars is a pursuit-evasion dynamic game. In theextended version presented here, a correct driver (evader) on a freeway detectsa wrong-way driver (pursuer in a worst case scenario), i.e., a car driving on thewrong lanes of the road or in the wrong direction. The correct...

Persistent link: https://www.econbiz.de/10005870793

Evolutionary Finance and Dynamic Games

Amir, Rabah; Evstigneev, Igor’ V.; Hens, Thorsten; Xu, Le - Swiss Finance Institute <Zürich> - 2009

The paper examines a game-theoretic evolutionary model of anasset market with endogenous equilibrium asset prices. Assetspay dividends that are partially consumed and partially rein-vested. The investors use general, adaptive strategies (portfo-lio rules), distributing their wealth between...

Persistent link: https://www.econbiz.de/10009022139

Do investors optimize, follow heuristics, or listen to experts?

Gehrig, Thomas P.; Güth, Werner; Levínský, René; … - 2008

equal investments in all assets? Further, will agents with probability information be asked and paid for advice on how to …, and even uninformed agents do not invest according to the 1=n-heuristic. Advice is demanded and readily paid for …

Persistent link: https://www.econbiz.de/10010274010

The impact of naive advice and observational learning in beauty-contest games

Kocher, Martin; Sutter, Matthias; Wakolbinger, Florian - 2007

We study the impact of advice or observation on the depth of reasoning in an experimental beauty-contest game. Both … sources of information trigger faster convergence to the equilibrium. Yet, we find that subjects who receive naive advice …

Persistent link: https://www.econbiz.de/10010293382

Experts vs. discounters: Consumer free riding and experts withholding advice in markets for credence goods

Dulleck, Uwe; Kerschbamer, Rudolf - 2007

from free riding on experts' advice; and we discuss policy options to solve the free-rider problem. …

Persistent link: https://www.econbiz.de/10010293427