Experimental Economics最新文献

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Avoiding the cost of your conscience: belief dependent preferences and information acquisition 避免良心的代价:信仰依赖偏好与信息获取
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2024-05-27 DOI: 10.1007/s10683-024-09827-z
Claire Rimbaud, Alice Soldà
{"title":"Avoiding the cost of your conscience: belief dependent preferences and information acquisition","authors":"Claire Rimbaud, Alice Soldà","doi":"10.1007/s10683-024-09827-z","DOIUrl":"https://doi.org/10.1007/s10683-024-09827-z","url":null,"abstract":"<p>Pro-social individuals typically face a trade-off between their monetary incentives and their other-regarding preferences. When this is the case, they may be tempted to exploit the uncertainty in their decision environment to reconcile this trade-off. In this paper, we investigate whether individuals with belief-dependent preferences acquire information about others’ expectations in a self-serving way. We present a model of endogenous information acquisition and test our theoretical predictions in an online experiment based on a modified trust-game in which the trustee is uncertain about the trustor’s expectations. Our experimental design enables us to (1) identify participants with belief-based preferences and (2) investigate their information acquisition strategy. Consistent with our predictions for <i>subjective</i> belief-dependent preferences, we find that most individuals classified as belief-dependent strategically select their source of information to avoid the cost of their conscience.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"18 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2024-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141170067","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Measuring natural source dependence 测量对自然源的依赖性
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2024-05-23 DOI: 10.1007/s10683-024-09822-4
Cédric Gutierrez, Emmanuel Kemel
{"title":"Measuring natural source dependence","authors":"Cédric Gutierrez, Emmanuel Kemel","doi":"10.1007/s10683-024-09822-4","DOIUrl":"https://doi.org/10.1007/s10683-024-09822-4","url":null,"abstract":"<p>The consequences of most economic decisions are uncertain; they are conditional on events with unknown probabilities that decision makers evaluate based on their beliefs. In addition to consequences and beliefs, the context that generates events—the source of uncertainty—can also impact preferences, a pattern called source dependence. Despite its importance, there is currently no definition of source dependence that allows for comparisons across individuals and sources. This paper presents a tractable definition of source dependence by introducing a function that matches the subjective probabilities of events generated by two sources. It also presents methods for estimating such functions from a limited number of observations that are compatible with commonly-used choice-based approaches for separating attitudes from beliefs. As an illustration, we implement these methods on three datasets, including two original experiments, and show that they consistently capture clear, albeit heterogeneous, patterns of source dependence between natural sources. Our approach provides a framework for future research to explore how source dependence varies across individuals and situations.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"1 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2024-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141150615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The role of self-confidence in teamwork: experimental evidence 自信在团队合作中的作用:实验证据
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2024-05-18 DOI: 10.1007/s10683-024-09829-x
Adrian Bruhin, Fidel Petros, Luís Santos-Pinto
{"title":"The role of self-confidence in teamwork: experimental evidence","authors":"Adrian Bruhin, Fidel Petros, Luís Santos-Pinto","doi":"10.1007/s10683-024-09829-x","DOIUrl":"https://doi.org/10.1007/s10683-024-09829-x","url":null,"abstract":"<p>Teamwork has become increasingly important in modern organizations and the labor market. Yet, little is known about the role of self-confidence in teamwork. In this paper, we present evidence from a laboratory experiment using a team effort task. Effort and ability are complements and there are synergies between teammates’ efforts. We exogenously manipulate subjects’ self-confidence about their ability using easy and hard general knowledge quizzes. We find that overconfidence leads to more effort, less free riding, and higher team revenue. This finding is primarily due to a direct effect of overconfidence on own effort provision, while there is no evidence that subjects strategically respond to the teammate’s overconfidence.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"46 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2024-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141059962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Task completion without commitment 无需承诺即可完成任务
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2024-05-14 DOI: 10.1007/s10683-024-09824-2
David J. Freeman, Kevin Laughren
{"title":"Task completion without commitment","authors":"David J. Freeman, Kevin Laughren","doi":"10.1007/s10683-024-09824-2","DOIUrl":"https://doi.org/10.1007/s10683-024-09824-2","url":null,"abstract":"<p>We conduct an experiment where participants make choices between completing a task now or waiting to complete it in the future. We vary the dates when a task can be completed and the effort required at each date. We infer participants’ preferences for when to complete a task and their expectations about how their future preferences will differ from their current ones. Our findings indicate that most participants prefer to complete tasks immediately, even if it demands more effort than waiting. Their choices generally align with the principles of time consistency, monotonicity, and time invariance. We show that quasi-hyperbolic discounting, anticipatory utility, fixed costs, decision costs, and cost-of-keeping-track are all unable to provide a reasonable account of both our findings and related experiments.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"7 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2024-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140932335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
On the stability of norms and norm-following propensity: a cross-cultural panel study with adolescents 关于规范的稳定性和遵守规范的倾向:一项以青少年为对象的跨文化小组研究
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2024-05-06 DOI: 10.1007/s10683-024-09821-5
Erik O. Kimbrough, Erin L. Krupka, Rajnish Kumar, Jennifer M. Murray, Abhijit Ramalingam, Sharon Sánchez-Franco, Olga L. Sarmiento, Frank Kee, Ruth F. Hunter
{"title":"On the stability of norms and norm-following propensity: a cross-cultural panel study with adolescents","authors":"Erik O. Kimbrough, Erin L. Krupka, Rajnish Kumar, Jennifer M. Murray, Abhijit Ramalingam, Sharon Sánchez-Franco, Olga L. Sarmiento, Frank Kee, Ruth F. Hunter","doi":"10.1007/s10683-024-09821-5","DOIUrl":"https://doi.org/10.1007/s10683-024-09821-5","url":null,"abstract":"<p>Norm-based accounts of social behavior in economics typically reflect tradeoffs between maximization of own consumption utility and conformity to social norms. Theories of norm-following tend to assume that there exists a single, stable, commonly known injunctive social norm for a given choice setting and that each person has a stable propensity to follow social norms. We collect panel data on 1468 participants aged 11–15 years in Belfast, Northern Ireland and Bogotá, Colombia in which we measure norms for the dictator game and norm-following propensity twice at 10 weeks apart. We test these basic assumptions and find that norm-following propensity is stable, on average, but reported norms show evidence of change. We find that individual-level variation in reported norms between people and within people across time has interpretable structure using a series of latent transition analyses (LTA) which extend latent class models to a panel setting. The best fitting model includes five latent classes corresponding to five sets of normative beliefs that can be interpreted in terms of what respondents view as “appropriate” (e.g. equality vs. generosity) and how they view deviations (e.g. deontological vs. consequentialist). We also show that a major predictor of changing latent classes over time comes from dissimilarity to others in one’s network. Our application of LTA demonstrates how researchers can engage with heterogeneity in normative perceptions by identifying latent classes of beliefs and deepening understanding of the extent to which norms are shared, stable, and can be predicted to change. Finally, we contribute to the nascent experimental literature on the economic behavior of children and adolescents.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"187 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2024-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140932443","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does goal revision undermine self-regulation through goals? An experiment 目标修正会破坏通过目标进行的自我调节吗?一项实验
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2024-04-13 DOI: 10.1007/s10683-024-09826-0
Jonas Pilgaard Kaiser, Alexander K. Koch, Julia Nafziger
{"title":"Does goal revision undermine self-regulation through goals? An experiment","authors":"Jonas Pilgaard Kaiser, Alexander K. Koch, Julia Nafziger","doi":"10.1007/s10683-024-09826-0","DOIUrl":"https://doi.org/10.1007/s10683-024-09826-0","url":null,"abstract":"<p>We offer a novel test of whether non-binding goals set ahead of a task are effective motivators, taking into account that individuals in principle could easily revise these goals. In our setting, subjects either set a goal some days prior to an online task (early goal) or right at the start of the task (late goal). Two further treatments allow for (unanticipated) explicit revision of the early goal. We observe that (i) early goals are larger than late goals; (ii) subjects who set early goals work more than those who only set a late goal if they explicitly revise their goal and are reminded about their revised goal. A secondary contribution of our paper is that our design addresses a treatment migration problem present in earlier studies on goals that stems from the fact that subjects in a ‘no goals’ control condition may privately set goals.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"57 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2024-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140599407","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Images say more than just words: visual versus text communication to dispel a rent-control misconception 图文并茂:用视觉与文字交流消除租金管制误区
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2024-01-04 DOI: 10.1007/s10683-023-09817-7
{"title":"Images say more than just words: visual versus text communication to dispel a rent-control misconception","authors":"","doi":"10.1007/s10683-023-09817-7","DOIUrl":"https://doi.org/10.1007/s10683-023-09817-7","url":null,"abstract":"<h3>Abstract</h3> <p>The highly popular belief that rent-control leads to an increase in the amount of affordable housing is in contradiction with ample empirical evidence and congruent theoretical explanations. It can therefore be qualified as a misconception. We present the results of a preregistered on-line experiment in which we study how to dispel this misconception using a refutational approach in two different formats, a video and a text. We find that the refutational video has a significantly higher positive impact on revising the misconception than a refutational text. This effect is driven by individuals who initially agreed with it and depart from it after the treatment. The refutational text, in turn, does not have a significant impact relative to a non-refutational text. Higher cognitive reflective ability is positively associated with revising beliefs in all interventions. Our research shows that visual communication effectively reduces the gap between scientific economic knowledge and the views of citizens.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"18 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2024-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139374668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Introduction to the special issue in honor of John H. Kagel 纪念约翰-H-卡格尔特刊导言
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2023-12-21 DOI: 10.1007/s10683-023-09820-y
A. Baranski, David J. Cooper, Guillaume Fréchette
{"title":"Introduction to the special issue in honor of John H. Kagel","authors":"A. Baranski, David J. Cooper, Guillaume Fréchette","doi":"10.1007/s10683-023-09820-y","DOIUrl":"https://doi.org/10.1007/s10683-023-09820-y","url":null,"abstract":"","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"106 3","pages":""},"PeriodicalIF":2.3,"publicationDate":"2023-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138994132","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Public good bargaining under mandatory and discretionary rules: experimental evidence 强制规则和自由裁量规则下的公益讨价还价:实验证据
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2023-12-12 DOI: 10.1007/s10683-023-09818-6
John Duffy, SunTak Kim
{"title":"Public good bargaining under mandatory and discretionary rules: experimental evidence","authors":"John Duffy, SunTak Kim","doi":"10.1007/s10683-023-09818-6","DOIUrl":"https://doi.org/10.1007/s10683-023-09818-6","url":null,"abstract":"<p>We experimentally test a model of public good bargaining due to Bowen et al. (Am Econ Rev 104:2941–2974, 2014) and compare two institutions governing bargaining over public good allocations. The setup involves two parties negotiating the distribution of a fixed endowment between a public good and each party’s individual account. Parties attach either high or low weight to the public good and the difference in these weights reflects the degree of polarization. Under discretionary bargaining rules, the status quo default allocation to the group account (in the event of disagreement) is zero while under the mandatory bargaining rule it is equal to the level last agreed upon. The mandatory rule thus creates a dynamic relationship between current decisions and future payoffs, and our experiment tests the theoretical prediction that the efficient level of public good is provided under the mandatory rule while the level of public good funding is at a sub-optimal level under the discretionary rule. Consistent with the theory, we find that proposers (particularly those attaching high weight to the public good) propose significantly greater allocations to the public good under mandatory rules than under discretionary rules and this result is strengthened with an increase in polarization. Still, public good allocations under mandatory rules fall short of steady state predictions, primarily due to fairness concerns that prevent proposers from exercising full proposer power.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"10 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2023-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138630703","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Speed traps: algorithmic trader performance under alternative market balances and structures 速度陷阱:替代市场平衡和结构下的算法交易员绩效
IF 2.3 3区 经济学
Experimental Economics Pub Date : 2023-12-08 DOI: 10.1007/s10683-023-09816-8
Yan Peng, Jason Shachat, Lijia Wei, S. Sarah Zhang
{"title":"Speed traps: algorithmic trader performance under alternative market balances and structures","authors":"Yan Peng, Jason Shachat, Lijia Wei, S. Sarah Zhang","doi":"10.1007/s10683-023-09816-8","DOIUrl":"https://doi.org/10.1007/s10683-023-09816-8","url":null,"abstract":"<p>Using double auction market experiments with both human and agent traders, we demonstrate that agent traders prioritising low latency often generate, sometimes perversely so, diminished earnings in a variety of market structures and configurations. With respect to the benefit of low latency, we only find superior performance of fast-Zero Intelligence Plus (ZIP) buyers to human buyers in balanced markets with the same number of human and fast-ZIP buyers and sellers. However, in markets with a preponderance of agents on one side of the market and a noncompetitive market structure, such as monopolies and duopolies, fast-ZIP agents fall into a speed trap. In such speed traps, fast-ZIP agents capture minimal surplus and, in some cases, experience near first-degree price discrimination. In contrast, the trader performance of slow-ZIP agents is comparable to that of human counterparts, or even better in certain market conditions.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"167 1","pages":""},"PeriodicalIF":2.3,"publicationDate":"2023-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138560079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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