• Publications
  • Influence
The Market for Financial Advice: An Audit Study
Do financial advisers undo or reinforce the behavioral biases and misconceptions of their clients? We use an audit methodology where trained auditors meet with financial advisers and presentExpand
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Information Aggregation with Random Ordering: Cascades and Overconfidence
In economic models, it is usually assumed that agents aggregate their private and all available public information correctly and completely. In this experiment, we identify subjects' updatingExpand
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Information Aggregation with Costly Information and Random Ordering: Experimental Evidence
The cost of information is an often ignored factor in economic situations although the information acquisition behavior of the decision makers has a crucial influence on the outcome. In thisExpand
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Walking the talk in multiparty bargaining: An experimental investigation
We study the framing effects of communication in multiparty bargaining. Communication has been shown to be more truthful and revealing than predicted in equilibrium. Because talk isExpand
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Mergers and Acquisitions : An Experimental Analysis of Synergies , Externalities and Dynamics
Mergers and acquisitions improve market efficiency by capturing synergies between firms. But takeovers also impose externalities (both positive and negative) on the remaining firms in the industry.Expand
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Salience theory: Calibration and heterogeneity in probability distortion
Abstract Bordalo et al. (2012b) propose salience theory as an alternative to existing descriptive decision theories. However, the authors do not provide a formal calibration of the central localExpand
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Information Aggregation in Experimental Asset Markets: Traps and Misaligned Beliefs
The capacity of markets to aggregate information has been conclusively demonstrated but the limitations of that capacity have still not been fully explored. In this paper, we demonstrate theExpand
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Communicating Frames in Negotiations
The conundrum of communication in bargaining has been resolved only in part. While theorists and empiricists have come to agree that communication can enhance bargaining efficiency through honestExpand
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Start-ups, incumbents, and the effects of takeover competition
Recent acquisitions involving Tumblr and Instagram have demonstrated that the takeover of an unlisted start-up company can offer enormous financial benefits to its (former) stakeholders. ConsideringExpand
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