Pub Date : 2023-01-01DOI: 10.1007/s10683-022-09788-1
Wenbo Zou, Xue Xu
Does social learning and subsequent private information processing differ depending on whether the observer shares the same group identity as the predecessor whose action is observed? In this paper, we conduct a lab experiment to answer this question, in which subjects first observe a social signal and then receive a private signal. We find that subjects put greater weights on the social signal if they share with the predecessor the same group identity that is induced in the experimental environment. We also provide suggestive evidence that such an ingroup-outgroup difference cannot be explained by individuals' beliefs of the predecessor's rationality. Moreover, heterogeneous effects of group identity exist in weights given to the subsequent private signal: Compared to when the predecessor is an outgroup, those who have learned from an ingroup predecessor put a greater (smaller) weight on the private signal if it contradicts (confirms) the social signal. We conjecture that such group effects are consistent with the perspective that group identity works as a framing device and brings about certain decision heuristics in the social signal phase, which no longer exist in the private signal phase.
Supplementary information: The online version contains supplementary material available at 10.1007/s10683-022-09788-1.
{"title":"Ingroup bias in a social learning experiment.","authors":"Wenbo Zou, Xue Xu","doi":"10.1007/s10683-022-09788-1","DOIUrl":"https://doi.org/10.1007/s10683-022-09788-1","url":null,"abstract":"<p><p>Does social learning and subsequent private information processing differ depending on whether the observer shares the same group identity as the predecessor whose action is observed? In this paper, we conduct a lab experiment to answer this question, in which subjects first observe a social signal and then receive a private signal. We find that subjects put greater weights on the social signal if they share with the predecessor the same group identity that is induced in the experimental environment. We also provide suggestive evidence that such an ingroup-outgroup difference cannot be explained by individuals' beliefs of the predecessor's rationality. Moreover, heterogeneous effects of group identity exist in weights given to the subsequent private signal: Compared to when the predecessor is an outgroup, those who have learned from an ingroup predecessor put a greater (smaller) weight on the private signal if it contradicts (confirms) the social signal. We conjecture that such group effects are consistent with the perspective that group identity works as a framing device and brings about certain decision heuristics in the social signal phase, which no longer exist in the private signal phase.</p><p><strong>Supplementary information: </strong>The online version contains supplementary material available at 10.1007/s10683-022-09788-1.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"26 1","pages":"27-54"},"PeriodicalIF":2.3,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9795456/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10688562","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01Epub Date: 2021-08-15DOI: 10.1007/s10683-021-09728-5
Carlos Alós-Ferrer, Georg D Granic
Widespread evidence from psychology and neuroscience documents that previous choices unconditionally increase the later desirability of chosen objects, even if those choices were uninformative. This is problematic for economists who use choice data to estimate latent preferences, demand functions, and social welfare. The evidence on this mere choice effect, however, exhibits serious shortcomings which prevent evaluating its possible relevance for economics. In this paper, we present a novel, parsimonious experimental design to test for the economic validity of the mere choice effect addressing these shortcomings. Our design uses well-defined, monetary lotteries, all decisions are incentivized, and we effectively randomize participants' initial choices without relying on deception. Results from a large, pre-registered online experiment find no support for the mere choice effect. Our results challenge conventional wisdom outside economics. The mere choice effect does not seem to be a concern for economics, at least in the domain of decision making under risk.
Supplementary information: The online version contains supplementary material available at 10.1007/s10683-021-09728-5.
{"title":"Does choice change preferences? An incentivized test of the mere choice effect.","authors":"Carlos Alós-Ferrer, Georg D Granic","doi":"10.1007/s10683-021-09728-5","DOIUrl":"10.1007/s10683-021-09728-5","url":null,"abstract":"<p><p>Widespread evidence from psychology and neuroscience documents that previous choices unconditionally increase the later desirability of chosen objects, even if those choices were uninformative. This is problematic for economists who use choice data to estimate latent preferences, demand functions, and social welfare. The evidence on this <i>mere choice effect</i>, however, exhibits serious shortcomings which prevent evaluating its possible relevance for economics. In this paper, we present a novel, parsimonious experimental design to test for the economic validity of the mere choice effect addressing these shortcomings. Our design uses well-defined, monetary lotteries, all decisions are incentivized, and we effectively randomize participants' initial choices without relying on deception. Results from a large, pre-registered online experiment find no support for the mere choice effect. Our results challenge conventional wisdom outside economics. The mere choice effect does not seem to be a concern for economics, at least in the domain of decision making under risk.</p><p><strong>Supplementary information: </strong>The online version contains supplementary material available at 10.1007/s10683-021-09728-5.</p>","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"26 3","pages":"499-521"},"PeriodicalIF":2.3,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s10683-021-09728-5","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"9803499","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-28DOI: 10.1007/s10683-022-09786-3
Ayala Arad, Kevin P. Grubiak, Stefan P. Penczynski
{"title":"Does communicating within a team influence individuals’ reasoning and decisions?","authors":"Ayala Arad, Kevin P. Grubiak, Stefan P. Penczynski","doi":"10.1007/s10683-022-09786-3","DOIUrl":"https://doi.org/10.1007/s10683-022-09786-3","url":null,"abstract":"","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":" ","pages":""},"PeriodicalIF":2.3,"publicationDate":"2022-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48127395","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}
Pub Date : 2022-12-16DOI: 10.1007/s10683-022-09784-5
Konstantinos Georgalos, I. Paya, D. Peel
{"title":"Higher order risk attitudes: new model insights and heterogeneity of preferences","authors":"Konstantinos Georgalos, I. Paya, D. Peel","doi":"10.1007/s10683-022-09784-5","DOIUrl":"https://doi.org/10.1007/s10683-022-09784-5","url":null,"abstract":"","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"26 1","pages":"145 - 192"},"PeriodicalIF":2.3,"publicationDate":"2022-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48275575","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}
Pub Date : 2022-10-31DOI: 10.1007/s10683-022-09779-2
Lisa V. Bruttel, Muhammed Bulutay, Camille Cornand, Frank Heinemann, Adam Zylbersztejn
{"title":"Measuring strategic-uncertainty attitudes","authors":"Lisa V. Bruttel, Muhammed Bulutay, Camille Cornand, Frank Heinemann, Adam Zylbersztejn","doi":"10.1007/s10683-022-09779-2","DOIUrl":"https://doi.org/10.1007/s10683-022-09779-2","url":null,"abstract":"","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"26 1","pages":"522 - 549"},"PeriodicalIF":2.3,"publicationDate":"2022-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48578251","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}
Pub Date : 2022-10-21DOI: 10.1007/s10683-022-09777-4
Gabriele Camera, Lukas Hohl, R. Weder
{"title":"Inequality as a barrier to economic integration? An experiment","authors":"Gabriele Camera, Lukas Hohl, R. Weder","doi":"10.1007/s10683-022-09777-4","DOIUrl":"https://doi.org/10.1007/s10683-022-09777-4","url":null,"abstract":"","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"26 1","pages":"383 - 411"},"PeriodicalIF":2.3,"publicationDate":"2022-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48021052","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}
Pub Date : 2022-10-05DOI: 10.1007/s10683-022-09781-8
Rudolf Kerschbamer, Regine Oexl
{"title":"Correction to: The effect of random shocks on reciprocal behavior in dynamic principal-agent settings","authors":"Rudolf Kerschbamer, Regine Oexl","doi":"10.1007/s10683-022-09781-8","DOIUrl":"https://doi.org/10.1007/s10683-022-09781-8","url":null,"abstract":"","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"26 1","pages":"489 - 489"},"PeriodicalIF":2.3,"publicationDate":"2022-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42065242","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}
Pub Date : 2022-09-25DOI: 10.1007/s10683-022-09773-8
Sebastian Jobjörnsson, H. Schaak, O. Musshoff, T. Friede
{"title":"Improving the statistical power of economic experiments using adaptive designs","authors":"Sebastian Jobjörnsson, H. Schaak, O. Musshoff, T. Friede","doi":"10.1007/s10683-022-09773-8","DOIUrl":"https://doi.org/10.1007/s10683-022-09773-8","url":null,"abstract":"","PeriodicalId":47992,"journal":{"name":"Experimental Economics","volume":"26 1","pages":"357 - 382"},"PeriodicalIF":2.3,"publicationDate":"2022-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43717540","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}
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