An Experimental Analysis of the Prize-Probability Tradeoff in Stopping Problems
We experimentally examine how individuals commit to a cutoff stopping rule when facing a sequence of independent lotteries. We identify two main behavior patterns: (1) a small share of participants consistently choose stopping rules whose gain bound (i.e., the accumulated gain at which the sequence...
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| Veröffentlicht in: | The review of economics and statistics 2023-09, p.1-45 |
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| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Online-Zugang: | Volltext |
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