Three doors anomaly, "should I stay or should I go": an artefactual field experiment

Rocco Caferra, Alessia Casamassima, Alessandro Cascavilla, Andrea Morone and Paola Tiranzoni ()

Artefactual Field Experiments from The Field Experiments Website

Abstract: This work aims to identify and quantify the biases behind the anomalous behavior of people when they deal with the Three Doors dilemma, which is a really simple but counterintuitive game. Carrying out an artefactual field experiment and proposing eight different treatments to isolate the anomalies, we provide new interesting experimental evidence on the reasons why subjects fail to take the optimal decision. According to the experimental results, we can quantify the size and the impact of three main biases that explain the anomalous behavior of participants: Bayesian updating, illusion of control, and status quo bias.

Date: 2020
New Economics Papers: this item is included in nep-cbe and nep-exp
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Three doors anomaly, “should I stay, or should I go”: an artefactual field experiment (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:feb:artefa:00700

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