Imitation under stress

Magdalena Buckert, Jörg Oechssler and Christiane Schwieren

Discussion Papers, Research Unit: Economics of Change from WZB Berlin Social Science Center

Abstract: Imitating the best strategy from the previous period has been shown to be an important heuristic, in particular in relatively complex environments. In this experiment we test whether subjects are more likely to use imitation if they are under stress. Subjects play a repeated Cournot oligopoly. Treatments are time pressure within the task and distractions through a second task (a Stroop-task) that has to be performed as well and influences payment. We measure stress levels through salivary cortisol and heart rate. Our main findings are that time pressure and distraction can indeed raise physiological stress levels of subjects within our task. More importantly from an economic perspective, we can also observe a corresponding behavioral change that is indicative of imitation.

Keywords: stress; cortisol; heart rate; imitation; experiment (search for similar items in EconPapers)
JEL-codes: C72 C91 D74 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-evo, nep-exp and nep-neu
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Citations: View citations in EconPapers (5)

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Related works:
Journal Article: Imitation under stress (2017)
Working Paper: Imitation under stress (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:wzbeoc:spii2014309

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