Acquisition and aggregation of costly information: experimental evidence
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
Frankfurt a.M. ; München ; London ; Miami ; New York
Hänsel-Hohenhausen
2003
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| Schriftenreihe: | Deutsche Hochschulschriften
1224 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXII, 175 S. graph. Darst. : 21 cm |
| ISBN: | 3826712242 |
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Datensatz im Suchindex
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| adam_text | CARLO KRAEMER ACQUISITION AND AGGREGATION OF COSTLY INFORMATION
EXPERIMENTAL EVIDENCE A 235060 DR. HANSEL-HOHENHAUSEN FRANKFURT A.M. *
MUNCHEN * LONDON * MIAMI * NEW YORK CONTENTS LIST OF FIGURES XIII LIST
OF TABLES XVII LIST OF SYMBOLS XIX CHAPTER 1 GENERAL INTRODUCTION 1 1.1
INFORMATION ACQUISITION IN CAPITAL MARKETS 3 1.2 BEHAVIOR IN SIMPLE
SOCIAL LEARNING PROCESSES WITH A PURE INFORMATION EXTERNALITY 7 1.2.1
THEORY AND LIMITATIONS OF THE APPROACH 8 1.2.2 EXPERIMENTAL EVIDENCE 12
1.3 RESEARCH QUESTIONS AND OUTLINE OF THE DISSERTATION 20 CHAPTER 2
INFORMATION AGGREGATION WITH COSTLY SIGNALS AND RANDOM ORDERING 25 2.1
INTRODUCTION 25 2.2 EXPERIMENTAL DESIGN AND PROCEDURES 28 2.3 RATIONAL
BAYESIAN STRATEGY 30 2.4 RESULTS 34 2.5 EXPLANATIONS FOR THE OBSERVED
ACQUISITION BEHAVIOR 40 2.5.1 AN ERROR MODEL 42 ) 2.5.2 A MODEL OF
NON-RATIONAL INFORMATION WEIGHTING 44 2.6 WELFARE ANALYSIS 48 2.7
CONCLUSIONS 50 2.8 APPENDIX: INSTRUCTIONS AND FINAL QUESTIONNAIRE 51 2.9
APPENDIX: CALCULATIONS 55 CONTENTS CHAPTER 3 INFORMATION ACQUISITION IN
A SMOOTH SEQUENTIAL AGGREGATION PROCESS: WHY DO PEOPLE BUY TOO MUCH
INFORMATION? 59 3.1 INTRODUCTION 59 3.2 EXPERIMENTAL DESIGN AND
PROCEDURES 61 3.2.1 METHODOLOGICAL ISSUES 61 3.2.2 DESIGN 63 3.2.3
PROCEDURES 67 3.3 RESULTS 69 3.3.1 GENERAL RESULTS 69 3.3.2 INFLUENCE OF
COST AND QUALITY 71 3.3.3 THE POSITION PUZZLE 73 3.4 EXPLANATIONS FOR
THE OBSERVED BEHAVIOR 76 3.4.1 SUBJECTS UPDATING BEHAVIOR 76 3.4.2 A
RANDOM UTILITY MODEL 77 3.4.3 A JOINT MODEL OF RANDOM UTILITY AND
OVERCONFIDENCE 80 3.5 HUMAN VS. COMPUTER SIMULATED OPPONENTS 82 3.6
WELFARE AND INFORMATION AGGREGATION 85 3.7 CONCLUSIONS 87 3.8 APPENDIX:
INSTRUCTIONS 89 3.9 APPENDIX: INCENTIVE COMPATIBILITY OF THE QUADRATIC
SCORING RULE 97 3.10 APPENDIX: MODEL PROBABILITIES AND OBSERVED
ACQUISITION FREQUENCIES 98 CHAPTER 4 WHAT CAUSES DIFFERENT CONFIDENCE IN
EQUAL PROBABILITIES IN SEQUENTIAL AGGREGATION TASKS? 101 4.1
INTRODUCTION 101 4.2 EXPERIMENTAL DESIGN AND PROCEDURES 103 4.2.1 DESIGN
AND HYPOTHESIS 103 4.2.2 PROCEDURES 107 4.3 RESULTS 109 4.3.1 SIGNAL
ACQUISITION BEHAVIOR 109 4.3.2 LOTTERY VALUATION 112 (4.4 CONCLUSIONS
116 4.5 APPENDIX: INSTRUCTIONS 118 CONTENTS 4.6 APPENDIX: SAMPLE SCREENS
122 CHAPTER 5 HOW DO PEOPLE CONTROL FOR WEIGHT, STRENGTH AND QUALITY OF
SEGREGATED VS. AGGREGATED DATA? 125 5.1 INTRODUCTION 125 5.2 HYPOTHESIS
128 5.2.1 RATIONAL BAYESIAN BEHAVIOR 128 5.2.2 EMPIRICAL FINDINGS 132
5.3 EXPERIMENTAL DESIGN AND PROCEDURES 136 5.3.1 DESIGN . 136 5.3.2
PROCEDURES 139 5.4 RESULTS 141 5.4.1 TESTING HYPOTHESIS 1: CONTROL FOR
WEIGHT AND STRENGTH IF SUBJECTS ARE PROVIDED WITH SEGREGATED DATA 141
5.4.2 TESTING HYPOTHESIS 2: CONTROL FOR WEIGHT IF SUBJECTS ARE PROVIDED
WITH AGGREGATED DATA 148 5.4.3 ROBUSTNESS OF THE FINDINGS CONCERNING
CONTROL FOR WEIGHT AND STRENGTH 153 5.4.4 TESTING HYPOTHESIS 3: CONTROL
FOR QUALITY OF THE DATA 154 5.4.5 IMPACT OF EXPERTISE ON BEHAVIOR 157
5.5 CONCLUSIONS 158 5.6 APPENDIX: INSTRUCTIONS 160 5.7 APPENDIX: GRAPHS
164 BIBLIOGRAPHY 167
|
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| ctrlnum | (OCoLC)53484369 (DE-599)BVBBV014880271 |
| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
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| indexdate | 2024-07-09T19:08:20Z |
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| isbn | 3826712242 |
| language | English |
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| spelling | Kraemer, Carlo Verfasser aut Acquisition and aggregation of costly information experimental evidence Carlo Kraemer Frankfurt a.M. ; München ; London ; Miami ; New York Hänsel-Hohenhausen 2003 XXII, 175 S. graph. Darst. : 21 cm txt rdacontent n rdamedia nc rdacarrier Deutsche Hochschulschriften 1224 Zugl.: Mannheim, Univ., Diss., 2002 Informationskosten (DE-588)4026915-2 gnd rswk-swf Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd rswk-swf Stochastisches Modell (DE-588)4057633-4 gnd rswk-swf Informationsverhalten (DE-588)4123428-5 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Entscheidung bei Unsicherheit (DE-588)4070864-0 s Informationskosten (DE-588)4026915-2 s Informationsverhalten (DE-588)4123428-5 s Stochastisches Modell (DE-588)4057633-4 s DE-604 Deutsche Hochschulschriften 1224 (DE-604)BV004679961 1224 GBV Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010061931&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Kraemer, Carlo Acquisition and aggregation of costly information experimental evidence Deutsche Hochschulschriften Informationskosten (DE-588)4026915-2 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Stochastisches Modell (DE-588)4057633-4 gnd Informationsverhalten (DE-588)4123428-5 gnd |
| subject_GND | (DE-588)4026915-2 (DE-588)4070864-0 (DE-588)4057633-4 (DE-588)4123428-5 (DE-588)4113937-9 |
| title | Acquisition and aggregation of costly information experimental evidence |
| title_auth | Acquisition and aggregation of costly information experimental evidence |
| title_exact_search | Acquisition and aggregation of costly information experimental evidence |
| title_full | Acquisition and aggregation of costly information experimental evidence Carlo Kraemer |
| title_fullStr | Acquisition and aggregation of costly information experimental evidence Carlo Kraemer |
| title_full_unstemmed | Acquisition and aggregation of costly information experimental evidence Carlo Kraemer |
| title_short | Acquisition and aggregation of costly information |
| title_sort | acquisition and aggregation of costly information experimental evidence |
| title_sub | experimental evidence |
| topic | Informationskosten (DE-588)4026915-2 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Stochastisches Modell (DE-588)4057633-4 gnd Informationsverhalten (DE-588)4123428-5 gnd |
| topic_facet | Informationskosten Entscheidung bei Unsicherheit Stochastisches Modell Informationsverhalten Hochschulschrift |
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