Positional learning with noise |
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| Authors: | Giovanni Ponti Enrica Carbone |
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| Affiliation: | 1. Università di Ferrara, Italy;2. Universidad de Alicante, Spain;3. Università di Bari, Italy;1. Department of Biological Science and Technology, China University of Science and Technology, Taipei 11581, Taiwan, ROC;2. Department of Applied Science, National Hsinchu University of Education, Hsinchu 30014, Taiwan, ROC;3. Department of Living Science, National Open University, New Taipei City 24701, Taiwan, ROC;4. Graduate Institute of Marine Biology, National Taiwan Ocean University, Keelung 20224, Taiwan, ROC;1. Department of Economics, Towson University, United States;2. Department of Mathematics, Towson University, United States;1. Dipartimento di Economia Politica e Statistica, Università degli Studi di Siena, Italy;2. Department of Economics, Washington University in St. Louis, United States;1. Research Institute of Water and Environmental Ingeneering (IIAMA), Polytechnic University of Valencia, 46022 Valencia, Spain;2. Biotechnology Department, Polytechnic University of Valencia, 46022 Valencia, Spain |
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| Abstract: | We propose (and test experimentally) a model of observational learning in which players have social preferences. To this end, we design an experiment–based on a classic parlor game known as the Chinos Game–in which we vary (by way of an exogenous iid stochastic process) the probability of getting the prize in the event of a correct guess. By this design, we are able to estimate more efficiently players’ sensitivity to difference in payoffs (and how this sensitivity affects information decoding along the sequence). We also condition our estimates upon additional information on subjects’ socio-demographics, risk attitudes and cognitive reflection by way of a questionnaire that we collect at the end of each session. |
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