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Variety Aversion and Information Overload: An Experimental Approach
Kaiser, Karen - Banco de México - 2011
This paper analyzes the effect of information overload on preference or aversion for variety. According to the model, a rational decision maker who suffers from information overload, faces a two-stage decision process, and is choosing from a set of unknown goods will find it optimal at some...
Persistent link: https://www.econbiz.de/10009023315
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Variety aversion and information overload: An experimental approach
Kaiser, Karen - 2011
This paper analyzes the effect of information overload on preference or aversion for variety. According to the model, a rational decision maker who suffers from information overload, faces a two-stage decision process, and is choosing from a set of unknown goods will find it optimal at some...
Persistent link: https://www.econbiz.de/10010322601
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Social anchor effects in decision-making under ambiguity
Lahno, Amrei M. - Volkswirtschaftliche Fakultät, … - 2014
dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …
Persistent link: https://www.econbiz.de/10010897328
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How Do People Learn by Listening to Others? Experimental Evidence from Thailand
Healy, Andrew - EconWPA - 2005
This paper presents experimental evidence about how individuals learn from information that comes from inside versus outside their ethnic group. In the experiment, Thai subjects observed information that came from Americans and other Thais that they could use to help them answer a series of...
Persistent link: https://www.econbiz.de/10005125584
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Social anchor effects in decision-making under ambiguity
Lahno, Amrei M. - 2014
dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …
Persistent link: https://www.econbiz.de/10010364762
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The Role of Information Feedback in Local Reserve Energy Auction Markets
Madlener, Reinhard; Rosen, Christiane - Institut für Future Energy Consumer Needs and Behavior … - 2013
last couple of decades, several studies on feedback information in games and its role in learning have been conducted. Some … of the most notable ones are the results in learning direction theory (Selten & Stoecker, 1986), impulse balance theory … learning and the change in bidder behavior for the divisible good auction case. However, the impact of the competitive …
Persistent link: https://www.econbiz.de/10010840304
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Peer Effects in Risk Taking
Lahno, Amrei M.; Serra-Garcia, Marta - CESifo - 2012
We examine peer effects in risk taking with complete information and compare explanations for peer effects based on relative payoff concerns to explanations that allow peer choices to matter. We vary experimentally whether individuals can condition a simple lottery choice on the lottery choice,...
Persistent link: https://www.econbiz.de/10010739341
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The values of ex-ante and ex-post communication in dictator games
Langenbach, Pascal - Max-Planck-Institut zur Erforschung von … - 2014
In the dictator game, the recipient’s opportunity to send a message to the dictator increases giving. The effect is equally strong if the message is written before or after the dictator has decided (experiment 1). Recipients have a stronger willingness to pay for ex-ante communication, however...
Persistent link: https://www.econbiz.de/10010781566
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Peer effects in risk taking
Lahno, Amrei M.; Serra-Garcia, Marta - 2012
This paper examines the effect of peers on individual risk taking. In the absence of informational motives, we investigate why social utility concerns may drive peer effects. We test for two main channels: utility from payoff differences and from conforming to the peer. We show experimentally...
Persistent link: https://www.econbiz.de/10010291567
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Payments or persuasion: common pool resource management with price and non-price measures
Delaney, Jason J.; Jacobson, Sarah - Economics Department, Williams College - 2013
We use lab experiments to study policies that address common pool resource overuse. We look at a price mechanism, specifically a Pigouvian subsidy, and four non-price interventions. The non-price policies are information alone, information with a normative message, communication alone, and...
Persistent link: https://www.econbiz.de/10011268626