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Over-confidence and low-cost heuristics : an experimental investigation of choice behavior
Cicognani, Simona; Mittone, Luigi - 2014
This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The authors experimentally investigate the role of imitation when participants face a task which is costly in cognitive terms. In order to disentangle different choice dynamics, they...
Persistent link: https://www.econbiz.de/10010425055
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Over-confidence and low-cost heuristics: An experimental investigation of choice behavior
Cicognani, Simona; Mittone, Luigi - In: Economics: The Open-Access, Open-Assessment E-Journal 8 (2014) 2014-36, pp. 1-31
This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The authors experimentally investigate the role of imitation when participants face a task which is costly in cognitive terms. In order to disentangle different choice dynamics, they...
Persistent link: https://www.econbiz.de/10010421223
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Do we follow private information when we should? Laboratory evidence on naϊve herding
March, Christoph; Krügel, Sebastian; Ziegelmeyer, Anthony - 2012
We investigate whether experimental participants follow their private information and contradict herds in situations where it is empirically optimal to do so. We consider two sequences of players, an observed and an unobserved sequence. Observed players sequentially predict which of two options...
Persistent link: https://www.econbiz.de/10010281654
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Over-confidence and low-cost heuristics: An experimental investigation of choice behavior
Cicognani, Simona; Mittone, Luigi - In: Economics - The Open-Access, Open-Assessment E-Journal 8 (2014), pp. 1-31
This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The authors experimentally investigate the role of imitation when participants face a task which is costly in cognitive terms. In order to disentangle different choice dynamics, they...
Persistent link: https://www.econbiz.de/10010961605
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Communication, expectations, and trust : an experiment with three media
Abatayo, Anna Lou; Lynham, John; Sherstyuk, Katerina - In: Games 11 (2020) 4/48, pp. 1-26
We studied how communication media affect trust game play. Three popular media were considered: traditional face …-to-face, Facebook groups, and anonymous online chat. We considered post-communication changes in players' expectations and preferences …, and further analyzed the contents of group communications to understand the channels though which communication appears to …
Persistent link: https://www.econbiz.de/10012432337
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Viable Nash Equilibria: An Experiment
Kim, Duk Gyoo; Min, Daehong; Wooders, John - 2022
This paper examines the usefulness of Kalai (2020)'s measure of the viability of Nash equilibrium. We experimentally study a class of participation games, which differ in the number of players, the success threshold, and the payoff to not participating. We find that Kalai's measure captures well...
Persistent link: https://www.econbiz.de/10013427699
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The Benefits of Gradualism in Government Expenditure Changes: Theory and Experimental Evidence
von Hagen, Jürgen; Kube, Sebastian; Kaiser, Johannes; … - 2006
Government expenditure can be highly variable, if used as a countercyclical instrument, or as a response to economic crises or as a means of rapidly altering other features of the economy. An alternative policy setting is to keep government expenditure changes gradual and modest. It is shown...
Persistent link: https://www.econbiz.de/10010274103
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Behavioral Economic Phenomena in Decision-Making for Others
Ifcher, John; Zarghamee, Homa - 2018
We examine whether biases identified in the behavioral-economics literature apply in decision-making for others (DMfO). We conduct a laboratory experiment in which subjects make decision on behalf of themselves and others in eighteen tasks that measure the following biases: present-bias in time...
Persistent link: https://www.econbiz.de/10011984506
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Behavioral economic phenomena in decision-making for others
Ifcher, John; Zarghamee, Homa S. - 2018
We examine whether biases identified in the behavioral-economics literature apply in decision-making for others (DMfO). We conduct a laboratory experiment in which subjects make decision on behalf of themselves and others in eighteen tasks that measure the following biases: present-bias in time...
Persistent link: https://www.econbiz.de/10011949189
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Viable Nash equilibria : an experiment
Kim, Duk Gyoo; Min, Daehong; Wooders, John - 2022
This paper examines the usefulness of Kalai (2020)'s measure of the viability of Nash equilibrium. We experimentally study a class of participation games, which differ in the number of players, the success threshold, and the payoff to not participating. We find that Kalai's measure captures well...
Persistent link: https://www.econbiz.de/10013362381