当前位置: X-MOL 学术Theory Decis. › 论文详情
Our official English website, www.x-mol.net, welcomes your feedback! (Note: you will need to create a separate account there.)
Experimental evidence of behavioral improvement by learning and intermediate advice
Theory and Decision ( IF 0.802 ) Pub Date : 2021-02-09 , DOI: 10.1007/s11238-020-09799-5
Daniela Di Cagno , Werner Güth , Noemi Pace

This paper attempts to empirically assess how advice may reduce suboptimality in a portfolio choice experiment with risk-neutral participants induced via binary-lottery incentives. Previous studies (Theory Decis 83:195–243, 2017 and Theory Decis 85:151–177, 2018) with a larger set of choice tasks report overwhelming evidence of suboptimality and how it is slightly reduced by learning and experience. Participants confront 15 randomly ordered portfolio choices, which they experience again in 2 successive phases. Intermediate advice between phases alerts participants that less-risky investments can improve the outcome for at least one chance event without harming their success chances in the other random event. Compared to the pure choice treatment, another cognitively more demanding treatment additionally asks participants to form event-specific success aspirations that allow us to test satisficing and its optimality. The results show that intermediate advice increases the share of satisficing but not of optimal behavior beyond learning through experience. However, it significantly lowers the average distance from optimality.



中文翻译:

通过学习和中间建议改善行为的实验证据

本文试图通过经验评估建议如何通过二元彩票激励诱使风险中性参与者降低投资组合选择实验中的次优性。先前的研究(Theory Decis 83:195-243,2017和Theory Decis 85:151-177,2018)中有大量选择任务,它们报告了压倒性的压倒性证据,以及如何通过学习和经验将其略微降低。参与者面对15个随机排序的投资组合选择,他们在两个连续的阶段中再次经历。在阶段之间的中间建议会警告参与者,风险较小的投资可以改善至少一个机会事件的结果,而不会损害他们在另一次随机事件中的成功机会。与纯选择疗法相比,另一种在认知上要求更高的治疗方法还要求参与者形成针对特定事件的成功愿望,从而使我们能够测试满意度和最优性。结果表明,除了通过经验学习之外,中间建议会增加满意度的份额,但不会增加最佳行为的份额。但是,它显着降低了距最佳状态的平均距离。

更新日期:2021-02-09
down
wechat
bug