Forthcoming in the Journal of Economic Psychology Positive expectations feedback experiments and number
| Title: | Forthcoming in the Journal of Economic Psychology Positive expectations feedback experiments and number |
|---|---|
| Authors: | Joep Sonnemansa; Jan Tuinstrab; Jel-codes C G |
| Contributors: | The Pennsylvania State University CiteSeerX Archives |
| Source: | http://www1.fee.uva.nl/creed/pdffiles/GuessingPaper.pdf. |
| Publication Year: | 2010 |
| Collection: | CiteSeerX |
| Subject Terms: | number guessing game; beauty contest game; expectations feedback systems |
| Description: | In repeated number guessing games choices typically converge quickly to the Nash equilibrium. In positive expectations feedback experiments, however, convergence to the equilibrium price tends to be very slow, if it occurs at all. Both types of experimental designs have been suggested as modeling essential aspects of financial markets. In order to isolate the source of the differences in outcomes we present several new experiments in this paper. We conclude that the feedback strength (i.e. the ‘p-value ’ in standard number guessing games) is essential for the results. |
| Document Type: | text |
| File Description: | application/pdf |
| Language: | English |
| Relation: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.518.476; http://www1.fee.uva.nl/creed/pdffiles/GuessingPaper.pdf |
| Availability: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.518.476; http://www1.fee.uva.nl/creed/pdffiles/GuessingPaper.pdf |
| Rights: | Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
| Accession Number: | edsbas.49A6F652 |
| Database: | BASE |