Browsing by Author "Czermak, Simon"

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    Searching for a better deal - on the influence of group decision making, time pressure and gender in a search experiment
    (2008-04-07T13:39:21Z) Ibanez, Marcela; Czermak, Simon; Sutter, Matthias
    We study behavior in a search experiment where sellers receive randomized bids from a computer. At any time, sellers can accept the highest standing bid or ask for another bid at positive costs. We find that sellers stop searching earlier than theoretically optimal. Inducing a mild form of time pressure strengthens this finding in the early periods. There are marked gender differences. Men search significantly shorter than women. If subjects search in groups of two subjects, there is no difference to individual search, but teams of two women search much longer than men and recall more frequently.
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    Strategic Sophistication of Individuals and Teams in Experimental Normal-Form Games
    (2010-02-01T15:03:21Z) Sutter, Matthias; Czermak, Simon; Feri, Francesco
    We present an experiment on strategic thinking and behavior of individuals and teams in oneshot normal-form games. Besides making choices, decision makers have to state their firstand second-order beliefs. We find that teams play the Nash strategy significantly more often, and their choices are more often consistent by being a best reply to first order beliefs. We identify the complexity of a game and the payoffs in equilibrium as determining the likelihood of consistent behavior according to textbook rationality. Using a mixture model, the estimated probability to play strategically is 62% for teams, but only 40% for individuals.