EXPERIMENTAL STUDY OF ECONOMIC EXPECTATIONS

Anton Gerunov

Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2016, vol. 14, issue 1, 103-130

Abstract: An economic experiment is conducted in order to better understand how agents form expectations in realistic economic settings. Participants’ choices for a supplier of a given good in an experimental game are analyzed econometrically to outline key factors influencing their behavior. Our main conclusions are that agents are susceptible to habit formation but also try to act as rational decision-makers. Social influences are also found to have a statistically significant effect on agents’ choices.

Keywords: economic experiment; expectations; behavioral economics. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:sko:yrbook:v:14:y:2016:i:1:p:103-130

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