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explained as resulting from anchoring. However, experiments presented in support of this interpretation lack economic conditions … forecasting experiment, we find monetary incentives to substantially reduce and higher task complexity and risk to increase the … bias. Anchors ubiquitously reduce the forecasts' variance, while individual cognitive abilities and learning effects show …
Persistent link: https://www.econbiz.de/10013035246
used in laboratory experiments. We use a field experiment to test whether the game can predict real world investments by …The incentivized risky investment game has become a popular tool in lab-in-the-field experiments for its simplicity and … detect attenuation bias due to measurement error. Subjects'cognitive memory of the game played one year earlier is strongly …
Persistent link: https://www.econbiz.de/10012814590
Forecast combination has been proven to be a very important technique to obtain accurate predictions for various applications in economics, finance, marketing and many other areas. In many applications, forecast errors exhibit heavy-tailed behaviors for various reasons. Unfortunately, to our...
Persistent link: https://www.econbiz.de/10011411497
conducted a real effort fairness experiment where people in two of the world's richest countries, Norway and Germany, interacted … directly with people in Uganda and Tanzania, two of the world's poorest countries. In this experiment, the participants were …. First, entitlement considerations are crucial in explaining the distributive behavior of rich people in the experiment …
Persistent link: https://www.econbiz.de/10011377115
I discuss recent findings from behavioral economic experiments in the lab and in the field on the role of leaders in …
Persistent link: https://www.econbiz.de/10012062918
foreclosure in laboratory experiments. In one-shot interactions, upstream firms can choose to build a reputation by revealing …
Persistent link: https://www.econbiz.de/10011555141
Betrayal aversion has been operationalized as the evidence that subjects demand a higher risk premium to take social risks compared to natural risks. This evidence has been first shown by Bohnet and Zeckhauser (2004) using an adaptation of the Becker-DeGroot-Marshak mechanism (BDM, Becker et al....
Persistent link: https://www.econbiz.de/10010530639
Norms of cooperation and punishment differ across societies, but also within a single society. In an experiment with …
Persistent link: https://www.econbiz.de/10011730889
When an upstream monopolist supplies several competing downstreamfirms, it may fail to monopolize the market because it is unable to commit not to behave opportunistically. We build on previous experimental studies of this well-known commitment problem by introducing communication. Allowing the...
Persistent link: https://www.econbiz.de/10011518962
We experimentally study the Gale and Shapley (1962) mechanism, which is utilized in a wide set of applications, most prominently the National Resident Match- ing Program (NRMP). Several insights come out of our analysis. First, only 48% of our observed outcomes are stable, and among those a...
Persistent link: https://www.econbiz.de/10011800605