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The Role of Naive Advice and Observational Learning in Economic Decision Making - Evidence from Economic Experiments - Florian Wakolbinger
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The Role of Naive Advice and Observational Learning in Economic Decision Making - Evidence from Economic Experiments - Livres de poche

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The Role of Naive Advice and Observational Learning in Economic Decision Making - Evidence from Economic Experiments - Florian Wakolbinger
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The Role of Naive Advice and Observational Learning in Economic Decision Making - Evidence from Economic Experiments - Livres de poche

ISBN: 9783836473583

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The Role of Naive Advice and Observational Learning in Economic Decision Making: Evidence from Economic Experiments - Livres de poche

ISBN: 3836473585

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The Role of Naive Advice and Observational Learning in Economic Decision Making - Evidence from Economic Experiments - Livres de poche

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The Role of Naive Advice and Observational Learning in Economic Decision Making
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ISBN:

3836473585


We examine the effects of observational learning and naïve advice on the quality of decision-making in interactive tasks and decisions with ethical aspects. Although many everyday decisions are influenced by receiving advice or by observing others, little is known about the comparative impact of these types of information. Chapter 1 introduces the topic, chapters 2 and 3 report the results of two experimental beauty-contest games in which either one or all subjects receive advice or observe others' past behavior. We find that subjects receiving advice outperform uninformed subjects permanently, whereas subjects who observe others before making their decision do only have a temporary advantage. Chapter 4 presents a tax-evasion experiment and distinguishes between advice of subjects and observing statistics about subjects that show either high or low compliance. Presenting such information increases evasion, even if it comes from the sample showing relatively high compliance. Advice has a bigger impact than observing others and subjects focus on selfish payoff maximization rather than morale when giving advice. Chapter 5 concludes.

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EAN (ISBN-13): 9783836473583
ISBN (ISBN-10): 3836473585
Livre de poche
Date de parution: 2008
Editeur: VDM Verlag
100 Pages
Poids: 0,204 kg
Langue: eng/Englisch

Livre dans la base de données depuis 2008-05-01T23:59:11+02:00 (Paris)
Page de détail modifiée en dernier sur 2022-09-18T21:10:54+02:00 (Paris)
ISBN/EAN: 3836473585

ISBN - Autres types d'écriture:
3-8364-7358-5, 978-3-8364-7358-3
Autres types d'écriture et termes associés:
Auteur du livre: wakolbinger
Titre du livre: naive, decision making, naïve

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