Replication data for: Time and State Dependence in an Ss Decision Experiment
Principal Investigator(s): View help for Principal Investigator(s) Jacopo Magnani; Aspen Gorry; Ryan Oprea
Version: View help for Version V1
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Final-Code | 10/12/2019 07:28:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 03:28:PM |
Project Citation:
Magnani, Jacopo, Gorry, Aspen, and Oprea, Ryan. Replication data for: Time and State Dependence in an Ss Decision Experiment. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114078V1
Project Description
Summary:
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Flow earnings in a laboratory experiment decline the further a Brownian state variable, z, evolves from its optimal level, z*. Optimal state dependent models predict subjects will pay a fixed cost to return z to z* only when z strays outside a critical inaction region around the optimum. On average, subjects adjust at states remarkably close to optimal threshold levels but, as in the field, do not establish true "state dependent" inaction regions, suggesting significant "time dependent" components in adjustment rules. Structural estimates of subjective observation cost qualitatively account for variation in time dependence observed across treatments. (JEL C91, D21, D80)
Scope of Project
JEL Classification:
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C91 Design of Experiments: Laboratory, Individual
D21 Firm Behavior: Theory
D80 Information, Knowledge, and Uncertainty: General
C91 Design of Experiments: Laboratory, Individual
D21 Firm Behavior: Theory
D80 Information, Knowledge, and Uncertainty: General
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