The Tree of Experience in the Forest of Information: Overweighing Experienced Relative to Observed Information
نویسندگان
چکیده
منابع مشابه
The tree of experience in the forest of information: Overweighing experienced relative to observed information
Standard economic models assume that the weight given to information from different sources depends exclusively on its diagnosticity. In this paper we study whether the same piece of information is weighted more heavily simply because it arose from direct experience rather than from observation. We investigate this possibility by conducting repeated game experiments in which groups of players a...
متن کاملOverweighing Experienced Relative to Observed Information: Evidence from Repeated Games
Standard models of choice assume that the weight given to information from different sources depends exclusively on its diagnosticity. In this paper we study whether the same piece of information is weighted more heavily simply because it was directly experienced rather than merely observed. We investigate this possibility by conducting repeated game experiments in which groups of players are r...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2006
ISSN: 1556-5068
DOI: 10.2139/ssrn.521942