Simultaneous decisions in different-sized groups in electricity markets
The paper examines behavioral experiments of guessing game for different-sized groups in electricity markets. The subjects simultaneously took decisions, while being part of a group, and as part of a subgroup. The three-factor design (with two blocking factors) shows that subjects choose different n...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | article |
| Language: | EN |
| Published: |
Elsevier
2021
|
| Subjects: | |
| Online Access: | https://doaj.org/article/a952dee048aa499d8f1535cda32d5ce6 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | The paper examines behavioral experiments of guessing game for different-sized groups in electricity markets. The subjects simultaneously took decisions, while being part of a group, and as part of a subgroup. The three-factor design (with two blocking factors) shows that subjects choose different numbers for a large group and a subgroup. The numbers in the subgroups are less (and closer to equilibrium) than the numbers in large groups. Subjects make more rational decisions, being in larger groups. |
|---|