Env. & Dev. Econ. Research SeminarThe Nature of ExperienceFlorian Diekert
27. November 2019
Abstract: In many environments, exogenous (‘natural’) and strategic uncertainty jointly de- termine outcomes for individuals and an increasing number of economic experiments attempt to study human behavior in such settings. We design a choice environment that allows to study how individuals change their actions in repeat play depending on whether natural or strategic factors uniquely caused an adverse outcome. As expected, we find no statistically significant evidence that the experience of a zero- payout events affects whether subjects change their choice between rounds. However, there is significant evidence for a ‘human factor’: Despite statistical equivalence, subjects are significantly more likely to change their choice after experiencing adverse outcomes caused by strategic uncertainty, but not after experiencing the same outcome caused by natural uncertainty.
Zeit: 12:15 - 13.45 Uhr
Raum: 0079 VMP 5