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Searching for a better deal: On the influence of group decision making, time pressure and gender in a search experiment
Ibanez, Marcela; Czermak, Simon; Sutter, Matthias - 2008
We study behavior in a search experiment where sellers receive randomized bids from a computer. At any time, sellers can accept the highest standing bid or ask for another bid at positive costs. We find that sellers stop searching earlier than theoretically optimal. Inducing a mild form of time...
Persistent link: https://www.econbiz.de/10010293399
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Bargaining or Searching for a Better Price? - An Experimental Study
Feri, Francesco; Gantner, Anita - 2010
This experimental study investigates two bargaining games with twosided incomplete information between a seller and a buyer. In the first game with no outside options many subjects do not use the incomplete information to their advantage as predicted. We find that a model with adjusting priors...
Persistent link: https://www.econbiz.de/10010294771
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The formation of risk preferences through small-scale events
Angerer, Silvia; Dutcher, E. Glenn; Glätzle-Rützler, … - 2021
line with a reinforcement learning model, we find that subjects who won a random lottery took significantly more risk in a …
Persistent link: https://www.econbiz.de/10012614686
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Confusion and Reinforcement Learning in Experimental Public Goods Games
Bayer, Ralph-C.; Renner, Elke; Sausgruber, Rupert - 2009
. The results show that reinforcement learning leads to dynamics similar to those observed in standard public goods games … explained by reinforcement learning. According to our estimates, learning only accounts for 41 percent of the decay in …, differ strongly from the learning dynamics, while a learning model estimated from the limited information treatment tracks …
Persistent link: https://www.econbiz.de/10010294798
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Gender pairing and bargaining: Beware the same sex!
Sutter, Matthias; Bosman, Ronald; Kocher, Martin; van … - 2008
We study the influence of gender and gender pairing on economic decision making in an experimental two-person bargaining game where the other party's gender is known to both actors. We find that (1) gender per se has no significant effect on behavior, whereas (2) gender pairing systematically...
Persistent link: https://www.econbiz.de/10010293381
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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 outperform uninformed subjects permanently, whereas...
Persistent link: https://www.econbiz.de/10010293382
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The economic consequences of a Tobin tax: An experimental analysis
Hanke, Michael; Huber, Jürgen; Kirchler, Michael; … - 2007
The effects of a Tobin tax on foreign exchange markets have long been disputed. We present an experiment with currency trading on two markets, where either none, one, or both markets are taxed. Our results confirm the hitherto undisputed issues: a tax reduces trading volume, shifts market share...
Persistent link: https://www.econbiz.de/10010293390
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It is hard to beat the monkeys: On the value of asymmetric fundamental information in asset markets
Kirchler, Michael - 2008
In this paper we present results from experimental asset markets and simulations with traders who receive asymmetric information about the fundamental value of an asset. In the experimental markets with repetition insiders outperform the market and uninformed computerized random traders...
Persistent link: https://www.econbiz.de/10010293392
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Individuals and teams in UMTS-license auctions
Sutter, Matthias; Kocher, Martin; Strauß, Sabine - 2007
We examine bidding behaviour of individuals and teams in an experimental auction resembling UMTS-license auctions. Even though in reality teams were largely involved in those auctions, experimental studies on bidding in auctions have so far relied on individual bidders. Our results show that...
Persistent link: https://www.econbiz.de/10010293394
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Individual behavior and group membership: Comment
Sutter, Matthias - 2008
Charness et al. (2007b) have shown that group membership has a strong effect on individual decisions in strategic games when group membership is salient through payoff commonality. In this comment I show that their findings also apply to non-strategic decisions, even when no outgroup exists, and...
Persistent link: https://www.econbiz.de/10010293395