Showing 1 - 10 of 158
issues in a theory-guided lab experiment. Easily attainable (“belief-based”) protection indeed leads to more reports, both …
Persistent link: https://www.econbiz.de/10012958733
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10013072106
we run several experiments in order to shed light on both the take-up rate of genetic testing and on the comparison of … exogenous values of adverse selection under Consent Law, and the repeated interactions experiment devised has not resulted in …
Persistent link: https://www.econbiz.de/10013315562
We designed four observational learning experiments to identify the key channels that, along with Bayes …-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in … actions, but they overweight their low quality signals relative to public information. Experiments 2-4 reveal that non …
Persistent link: https://www.econbiz.de/10012924978
many experiments (in particular the co-presence of selfish, honest, and partial-lie choices) well …
Persistent link: https://www.econbiz.de/10012965717
In many markets, sellers advertise their good with an asking price. This is a price at which the seller will take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller...
Persistent link: https://www.econbiz.de/10012986936
We report two information cascade game experiments that directly test the impact of altruism on observational learning … substantial public information which increases the earnings of participants. In Experiment 2, participants have better …
Persistent link: https://www.econbiz.de/10012995188
The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly interact in social-learning settings with distinct information structures. In each round of interaction, they use their experience gained in past rounds to draw inferences from...
Persistent link: https://www.econbiz.de/10012996206
When a principal’s monitoring information is private (non-verifiable), the agent should be concerned that the principal could misrepresent the information to reduce the agent’s wage or collect a monetary penalty. Restoring credibility may lead to an extreme waste of resources - the so-called...
Persistent link: https://www.econbiz.de/10014043494
This paper explores the role of information transmission and misaligned interests across levels of government in explaining variation in the degree of decentralization across countries. Within a two-sided incomplete information principal-agent framework, it analyzes two alternative...
Persistent link: https://www.econbiz.de/10013075612