On Price Data Elicitation: a Laboratory Investigation (2009)
There is abundant literature in experimental research on decision making under risk, which compares, and ranks subjects’ preferences on the basis of some elicitation method. The present paper...
Meroz, Yael, Morone, Andrea, Morone, Piergiuseppe
In this paper we aim to look into the attributes of Ghanaians’ willingness-to-pay for green products. This would help us to assess whether Ghanaians show a preference towards environmental goods....
Investigating Discretionary Environmental Enforcement: a pilot experiment (2009)
Germani, Anna Rita, Morone, Andrea, Morone, Piergiuseppe
In this work, we conducted a laboratory experiment in order to test the findings of a theoretical environmental enforcement model played as a strategic game where the firm’s behavior is influenced...
Simple model of herd behaviour, a comment (2008)
In his ‘Simple model of herd behaviour’, Banerjee (1992) shows that – in a sequential game – if the first two players have chosen the same action, all subsequent players will ignore their own...
A Laboratory Experiment of Knowledge Diffusion Dynamics (2008)
Abstract. This paper aims to study, by means of a laboratory experiment and a simulation model, some of the mechanisms which dominate the phenomenon of knowledge diffusion in the process that is...
ON THE ABSORBABILITY OF HERD BEHAVIOUR AND INFORMATIONAL CASCADES: AN EXPERIMENTAL ANALYSIS (2008)
Morone, Andrea, Fiore, Annamaria, Sandri, Serena
A theory is said to be fully absorbable whenever its own acceptance by all of the individuals belonging to a certain population does not question its predictive validity. This accounts for strategic...
Eliciting Environmental Preferences of Ghanaians : an Experimental Approach (2007)
Meroz, Yael, Morone, Andrea, Morone, Piergioseppe
In this paper we aim - through an ‘experimentally-adapted’ Contingent Valuation survey - to look into the attributes of Ghanaians’ willingness-to-pay for green products. This would help us...
Voluntary contributions with imperfect information : An experimental study (2006)
Fiore, Annamaria, Levati, M. Vittoria, Morone, Andrea
We use a two-person linear voluntary contribution mechanism with stochastic marginal benefits from the public good to examine the effect of imperfect information on contributions levels. To assess...
On the absorbability of the Guessing Game Theory : A Theoretical and Experimental Analysis (2006)
Morone, Andrea, Sandri, Serena, Uske, Tobias
Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972) and further elaborated by Güth and Kliemt (2004), discusses the problem whether a theory can survive its own acceptance....
Valuing Protection against Low Probability, High Loss Risks : Experimental Evidence (2006)
Morone, Andrea, Ozdemir, Ozlem
The study investigates protective responses in low probability and high loss risk situations. Particularly, it (1) detects individual protection valuations to variations in probability versus to...
Is playing alone in the darkness sufficient to prevent informational cascades? (2005)
Fiore, Annamaria, Morone, Andrea
Seminal models of herd behaviour and informational cascades point out the existence of information negative externalities, and propose to destroy information in order to achieve social improvements....
In the 40's and early 50' two decision theories were proposed and have since dominated the scene of the fascinating field of decision-making. In 1944 - when von Neumann and Morgenstern showed that if...
Financial Market in the Laboratory, an Experimental Analysis of some Stylized Facts (2005)
This paper purports to provide experimental evidence explaining a number of stylized facts associated with the behaviour of financial returns, in particular, the fat tailed nature of their...
An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data (2005)
Morone, Andrea, Schmidt, Ulrich
Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative non-expected...
Measuring the Degree of Ambiguity about Probability : Experimental Evidence (2005)
Morone, Andrea, Ozdemir, Ozlem
Different from previous studies that use a best estimate, interval, or sets of probabilities, we represent the degree of ambiguity through levels of information provided to subjects. The willingness...
Measuring the Degree of Ambiguity about Probability: Experimental Evidence
Different from previous studies that use a best estimate, interval, or sets of probabilities, we represent the degree of ambiguity through levels of information provided to subjects. The willingness...
Financial Market in the Laboratory
This paper investigates experimentally a market inspired by two separate strands of economic literature. The first strand is that of herd behaviour in non-market situations and the second that of the...
Is playing alone in the darkness sufficient to prevent informational cascades?
Annamaria Fiore, Andrea Morone
Seminal models of herd behaviour and informational cascades point out the existence of information negative externalities, and propose to destroy information in order to achieve social improvements....
Financial Market in the Laboratory, an Experimental Analysis of some Stylized Facts
This paper purports to provide experimental evidence explaining a number of stylized facts associated with the behaviour of financial returns, in particular, the fat tailed nature of their...
Christian Seidl, Stefan Traub, Andrea Morone
This paper uses the data gained from an income categorization experiment for five shapes of income distributions to investigate background context effects, relative deprivation, range-frequency...
Income Distributions versus Lotteries: Happiness, Response Mode Effects and Preference Reversals
Andrea Morone, Christian Seidl, Eva Camacho-Cuena
Income Distribution, Lotteries, Income Happiness, Inequality and Risk Aversion, Ethical Inequality Measures, Preference Reversal
Comparison of Mean-Variance Theory and Expected-Utility Theory through a Laboratory Experiment
In the 40's and early 50' two decision theories were proposed and have since dominated the scene of the fascinating field of decision-making. In 1944 - when von Neumann and Morgenstern showed that if...
An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data
Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative non-expected...
An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data
Morone, Andrea, Schmidt, Ulrich
Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative nonexpected...
Noise and Bias in Eliciting Preferences
John D Hey, Andrea Morone, Ulrich Schmidt
In the context of eliciting preferences for decision making under risk, we ask the question: "which might be the 'best' method for eliciting such preferences?". It is well known that different...
On the absorbability of the Guessing Game Theory. A Theoretical and Experimental Analysis
Andrea Morone, Serena Sandri, Tobias Uske
Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972) and further elaborated by Güth and Kliemt (2004), discusses the problem whether a theory can survive its own acceptance....
Eliciting environmental preferences of Ghanaians: An experimental approach
Yael Meroz, Andrea Morone, Piergiuseppe Morone
In this paper we aim - through an 'experimentally-adapted' Contingent Valuation survey - to look into the attributes of Ghanaians' willingness-to-pay for green products. This would help us addressing...
Noise and Bias in Eliciting Preferences
John D. Hey, Andrea Morone, Ulrich Schmidt
In the context of eliciting preferences for decision making under risk, we ask the question: “which might be the ‘best’ method for eliciting such preferences?”. It is well known that...
Do Markets Drive Out Lemmings-or Vice Versa?
This paper investigates experimentally a market inspired by two strands of literature: on herd behaviour in non-market situations, and on the aggregation of private information in markets. The first...
Comparison of Mean-Variance theory and Expected-Utility theory through a Laboratory Experiment
In the 40’s and early 50’ two decision theories were proposed and have since dominated the scene of the fascinating field of decision-making. In 1944 – when von Neumann and Morgenstern showed...
Is playing alone in the darkness sufficient to prevent informational cascades?
Annamaria Fiore, Andrea Morone
Models of herd behaviour and informational cascades were theoretically developed in 1992 respectively by Banerjee (A simple model of herd behavior) and Bikhchandani, Hirshleifer and Welch (A Theory...
Comparison of Mean-Variance Theory and Expected-Utility Theory through a Laboratory Experiment
In the 40.s and early 50. two decision theories were proposed and have since dominated the scene of the fascinating field of decision-making. In 1944 . when von Neumann and Morgenstern showed that if...
Monty Hall's Three Doors for Dummies
Andrea Morone, Annamaria Fiore
Monty Hall's three doors problem is a well-known "anomaly" in economics. It appears to be an example of a systematic violation of the assumption of subjects' rationality. Many papers have studied the...
A simple note on Herd Behaviour
Andrea Morone, Eleni Samanidou
In his "Simple model of herd behaviour", Banerjee (1992) shows that - in a sequential game - if the first two players have chosen the same action, player 3 and all subsequent players will ignore...
Guessing Games and People Behaviours: What Can we Learn?
Andrea Morone, Piergiuseppe Morone
In this paper we address the topic of guessing games. By developing a generalised theory of naïveté, we show how Güth et al..s result (i.e. convergence toward interior equilibria is faster than...
Voluntary contributions with imperfect information: An experimental study
Annamaria Fiore, M. Vittoria Levati, Andrea Morone
We use a two-person linear voluntary contribution mechanism with stochastic marginal benefits from the public good to examine the effect of imperfect information on contributions levels. To assess...
On the absorbability of the Guessing Game Theory - A Theoretical and Experimental Analysis
Andrea Morone, Serena Sandri, Tobias Uske
Theory absorption, a notion introduced by Morgenstern and Schwödiauer (1972) and further elaborated by Güth and Kliemt (2004), discusses the problem whether a theory can survive its own acceptance....
Valuing Protection against Low Probability, High Loss Risks: Experimental Evidence
The study investigates protective responses in low probability and high loss risk situations. Particularly, it (1) detects individual protection valuations to variations in probability versus to...
An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data
Morone, Andrea, Schmidt, Ulrich
Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative non-expected...
Income Distributions versus Lotteries Happiness, Response-Mode Effects, and Preference
Camacho-Cuena, Eva, Seidl, Christian, Morone, Andrea
This paper provides a comparative experimental study of risky prospects (lotteries) and income distributions. The experimental design consisted of multi–outcome lotteries and n–dimensional income...
Seidl , Christian, Traub, Stefan, Morone, Andrea
This paper uses the data gained from an income categorization experiment for five shapes of income distributions to investigate background context effects, relative deprivation, range-frequency...
A Simple Note on Informational Cascades
Fiore, Annamaria, Morone, Andrea
Seminal models of herd behaviour and informational cascades point out existence of negative information externalities, and propose to ‘destroy’ information in order to achieve social...
A Simple Note on Informational Cascades
Fiore, Annamaria, Morone, Andrea
Seminal models of herd behaviour and informational cascades point out existence of negative information externalities, and propose to ‘destroy’ information in order to achieve social...
Financial markets in the laboratory: an experimental analysis of some stylized facts
This paper provides experimental evidence explaining a number of stylized facts associated with the behaviour of financial returns, in particular the fat tailed nature of their distribution and the...
Comparison of Mean-Variance Theory and Expected-Utility Theory through a Laboratory Experiment
In the 40's and early 50's two decision theories were proposed and have dominated the scene of the fascinating field of decision-making. Since 1944 - when von Neumann and Morgenstern showed that if...
An Experimental Investigation of Alternatives to Expected Utility Using Pricing Data
Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative non-expected...
Simple model of herd behaviour, a comment
In his ‘Simple model of herd behaviour’, Banerjee (1992) shows that – in a sequential game – if the first two players have chosen the same action, all subsequent players will ignore their own...
On the Absorbability of Herd Behaviour and Informational Cascades: An Experimental Analysis
Morone, Andrea, Fiore, Annamaria, Sandri, Serena
A theory is said to be fully absorbable whenever its own acceptance by all of the individuals belonging to a certain population does not question its predictive validity. This accounts for strategic...
ON THE ABSORBABILITY OF HERD BEHAVIOUR AND INFORMATIONAL CASCADES: AN EXPERIMENTAL ANALYSIS
Morone, Andrea, Fiore, Annamaria, Sandri, Serena
A theory is said to be fully absorbable whenever its own acceptance by all of the individuals belonging to a certain population does not question its predictive validity. This accounts for strategic...
SIMPLE MODEL OF HERD BEHAVIOUR, A COMMENT
In his ‘Simple model of herd behaviour’, Banerjee (1992) shows that – in a sequential game – if the first two players have chosen the same action, all subsequent players will ignore their own...
Seidl, Christian, Traub, Stefan, Morone, Andrea
relative deprivation, income distributions, income satisfaction, context effects
The Effect of Rating Agencies on Herd Behaviour
This paper purports to provide some evidence on the effect of rating agencies on herding in financial markets. By means of a laboratory experiment, we investigate the effect and interaction between...
Voluntary contributions with imperfect information: An experimental study
M. Levati, Andrea Morone, Annamaria Fiore
Public goods experiments, Second-price auctions, Imperfect information, Risk, C72, C92, D80, H41,
The Effect of Rating Agencies on Herd Behaviour
This paper purports to provide some evidence on the effect of rating agencies on herding in financial markets. By means of a laboratory experiment, we investigate the effect and interaction between...
Investigating Discretionary Environmental Enforcement: a pilot experiment
Germani, Anna Rita, Morone, Andrea, Morone, Piergiuseppe
In this work, we conducted a laboratory experiment in order to test the findings of a theoretical environmental enforcement model played as a strategic game where the firm’s behavior is influenced...
M. Vittoria Levati, Andrea Morone
Previous research indicates that risky and uncertain marginal returns from the public good significantly lower contributions. This paper presents experimental results illustrating that the effects of...
Meroz, Yael, Morone, Andrea, Morone, Piergiuseppe
In this paper we aim to look into the attributes of Ghanaians’ willingness-to-pay for green products. This would help us to assess whether Ghanaians show a preference towards environmental goods....
On the absorbability of informational cascades in the laboratory
Morone, Andrea, Sandri, Serena, Fiore, Annamaria
This paper aims in investigating the recursive effects of economic theories on the behaviour of bounded rational individuals and tests in the context of informational cascades the absorbability of...
Noise and bias in eliciting preferences
John Hey, Andrea Morone, Ulrich Schmidt
Pairwise choice, Willingness-to-pay, Willingness-to-accept, BDM mechanism, Errors, Noise, Biases, JEL classifications , C91, C81,
On Price Data Elicitation: a Laboratory Investigation
There is abundant literature in experimental research on decision making under risk, which compares, and ranks subjects’ preferences on the basis of some elicitation method. The present paper...