Are biased beliefs fit to survive? An experimental test of the market selection hypothesis

DOI10.1016/J.JET.2018.04.005MaRDI QIDQ1757577zbMATH OpenOpenAlexWikidataFDO

Authors Chad Kendall, Ryan Oprea

Publication date 15 January 2019

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jet.2018.04.005

zbMATH Keywords

Bayesian errorsefficient marketsexperimental economicsmarket selection hypothesisMonty Hall problemsurvival of the fittest

Mathematics Subject Classification ID

Experimental studies (91A90) Decision theory (91B06)

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Cites work

• Competition in Lending: Theory and Experiments*
• Consumption dynamics in general equilibrium: a characterisation when markets are incomplete
• Do asset market prices reflect traders' judgment biases?
• Do Markets Favor Agents able to Make Accurate Predictions?
• Evolution and market behavior
• If You're so Smart, why Aren't You Rich? Belief Selection in Complete and Incomplete Markets
• Market selection
• Survival versus profit maximization in a dynamic stochastic experiment

Cited in

(7)

• Do sellers exploit biased beliefs of buyers? An experiment
• Market selection: hungry misers and bloated bankrupts
• Confirmation bias with motivated beliefs
• Fishing for fools
• Cognitive Biases Affect the Acceptance of Tradeoff Studies
• The endowment effect as blessing
• Averting economic collapse and the solipsism bias

Describes a project that uses

Uses Software

• ORSEE

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