Seminari - Dipartimento Economics Seminari - Dipartimento Economics validi dal 16.06.2019 al 16.06.2020. http://www.dse.univr.it/?ent=seminario&rss=0 Riccardo Camboni (University of Padova) on "Multidimensionality and Complexity in Scoring Rule Auctions: Experimental Evidence" http://www.dse.univr.it/?ent=seminario&rss=0&id=4791 Relatore: Riccardo Camboni; Provenienza: University of Padova; Data inizio: 2019-06-19; Ora inizio: 12.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Alessandro Bucciol; Riassunto: Multidimensionality and Complexity in Scoring Rule Auctions: Experimental Evidence Riccardo Camboni, Luca Corazzini, Stefano Galavotti and Paola Valbonesi We experimentally investigate the problem of a procurer who needs to procure a good or service for which both price and quality matter. To this end, we compare two unidimensional treatments where one element (price or quality) is fixed by the auctioneer and sellers compete on the other dimension, with three bi-dimensional treatments where sellers submit both a price and a quality offer and the contract is awarded on the basis of a quot;scorequot; that (linearly) combines the two offers. Our results show that, differently from the unidimensional treatments, the bi-dimensional treatments significantly underperform relative to their theoretical predictions, both in terms of efficiency and in terms of procurer#39;s surplus. We argue that this might be related to the higher complexity of the bi-dimensional treatments. To corroborate this intuition, we fit a structural Quantal Response Equilibrium to our data: we obtain very similar estimates for the risk aversion parameter across treatments; on the other hand, the rationality parameter, which measures how close are observed bids to the payoff-maximizing ones, is lower in the bi-dimensional treatments, suggesting that adding a dimension to the strategic decision problem faced by bidders increases the likelihood that they play sub-optimally, thus greatly reducing the theoretical superiority of more complex mechanisms. Wed, 19 Jun 2019 12:00:00 +0200 http://www.dse.univr.it/?ent=seminario&rss=0&id=4791 Felix Kölle (University of Cologne) on "Time-Inconsistent Generosity: Present Bias across Individual and Social Contexts" http://www.dse.univr.it/?ent=seminario&rss=0&id=4815 Relatore: Felix Kölle; Provenienza: University of Cologne; Data inizio: 2019-06-20; Ora inizio: 12.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Simone Quercia; Riassunto: Time-Inconsistent Generosity: Present Bias across Individual and Social Contexts Felix Kolle and Lukas Wenner Abstract. We investigate the presence and stability of dynamically inconsistent time preferences across contexts with and without interpersonal trade-offs. In a longitudinal experiment subjects make a series of intertemporal allocation decisions of real-effort tasks between themselves and another person. We find substantial time inconsistency in generosity: agents become disproportionally more selfish when decisions have immediate rather than delayed consequences. Based on our theoretical framework, structural estimations reveal that this is because agents exhibit present bias in own but not in others#39; consumption. We show that very similar differences in present bias are observed in the absence of any interpersonal trade-offs, when agents decide either for themselves or on behalf of another person. At the individual level, we find that present bias in own consumption is a stable behavioral trait which is correlated across individual and social contexts. Thu, 20 Jun 2019 12:00:00 +0200 http://www.dse.univr.it/?ent=seminario&rss=0&id=4815 Giovanni Burro (University of Warwick) on "Sky's the limit: an empirical investigation of maximum price and its effect on regret and trading decisions" http://www.dse.univr.it/?ent=seminario&rss=0&id=4739 Relatore: Giovanni Burro; Provenienza: University of Warwick; Data inizio: 2019-06-26; Ora inizio: 12.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Alessandro Bucciol; Riassunto: Sky#39;s the limit: an empirical investigation of maximum price and its effect on regret and trading decisions Julia Brettschneider, Giovanni Burro and Vicky Henderson Abstract. We carry out an empirical test of Regret Theory in dynamic financial decisions, using trading data from the LDB dataset (Barber and Odean, 2013). Following theoretical predictions and a laboratory test of Strack and Viefers (2017, SV), we apply their approach to field data. In their work, SV show that the optimal strategy for an Expected Utility maximiser is to stop at a threshold. This implies that investors would not sell a stock at a price already seen. SV also claim that regret increases with distance between the running maximum price over the whole investment period and the current price, and that regret inhibits selling. Subjects do not follow threshold strategy in a laboratory setting. Focusing on trades which span less than a year, we find that most of our sample investors do not follow a threshold strategy. We check if investors follow a threshold strategy in the gain and in the loss domain. We check if investments and individual features influence the propensity to follow it. Our main finding in this section is that longer trades are associated with a lower consistency with a threshold strategy both in the gain and in the loss domain. Investors probably gamble for rebound of the stock. We control for differences due to age, category of investor and type of bank account, too. Most importantly, we analyse the impact of maximum price level and temporal distance from the maximum on the propensity to sell a stock for a gain. We find that investors are more likely to sell a stock when temporally closer to the maximum and when the price is further from the running maximum. The effect of temporal distance is the most relevant in shaping regret, with respect to the effect of price distance. Wed, 26 Jun 2019 12:00:00 +0200 http://www.dse.univr.it/?ent=seminario&rss=0&id=4739 PhD seminars: Carlos Moreno Perez (10:00 - 10:45) http://www.dse.univr.it/?ent=seminario&rss=0&id=4847 Relatore: C.M. Perez; Provenienza: University of Verona; Data inizio: 2019-09-12; Ora inizio: 10.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Roberto Ricciuti. Thu, 12 Sep 2019 10:00:00 +0200 http://www.dse.univr.it/?ent=seminario&rss=0&id=4847 PhD seminars: Rezarta Sellaku (10:45 - 11:30), Francesco Rossetto (11:30 - 12:15) http://www.dse.univr.it/?ent=seminario&rss=0&id=4848 Relatore: R. Sellaku and F. Rossetto; Provenienza: University of Verona; Data inizio: 2019-09-17; Ora inizio: 10.45; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Roberto Ricciuti. Tue, 17 Sep 2019 10:45:00 +0200 http://www.dse.univr.it/?ent=seminario&rss=0&id=4848 Javier Valbuena (University of Zaragoza) http://www.dse.univr.it/?ent=seminario&rss=0&id=4747 Relatore: Javier Valbuena; Provenienza: University of Zaragoza; Data inizio: 2019-09-18; Ora inizio: 12.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Martina Menon. Wed, 18 Sep 2019 12:00:00 +0200 http://www.dse.univr.it/?ent=seminario&rss=0&id=4747 Natalia Bochkina (University of Edinburgh) http://www.dse.univr.it/?ent=seminario&rss=0&id=4796 Relatore: Natalia Bochkina; Provenienza: University of Edinburgh; Data inizio: 2019-09-25; Ora inizio: 12.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Catia Scricciolo. Wed, 25 Sep 2019 12:00:00 +0200 http://www.dse.univr.it/?ent=seminario&rss=0&id=4796 PhD seminars: Saba Yifredew Getnet (11:00 - 11:45) http://www.dse.univr.it/?ent=seminario&rss=0&id=4859 Relatore: Saba Yifredew Getnet; Provenienza: University of Verona; Data inizio: 2019-10-02; Ora inizio: 11.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Roberto Ricciuti. Wed, 2 Oct 2019 11:00:00 +0200 http://www.dse.univr.it/?ent=seminario&rss=0&id=4859 Álvaro Cartea (University of Oxford) http://www.dse.univr.it/?ent=seminario&rss=0&id=4746 Relatore: Álvaro Cartea; Provenienza: University of Oxford; Data inizio: 2019-10-30; Ora inizio: 12.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Maria Flora. Wed, 30 Oct 2019 12:00:00 +0100 http://www.dse.univr.it/?ent=seminario&rss=0&id=4746 Paolo Pin (Bocconi University) http://www.dse.univr.it/?ent=seminario&rss=0&id=4787 Relatore: Paolo Pin; Provenienza: Bocconi University; Data inizio: 2019-11-20; Ora inizio: 12.00; Note orario: Polo Santa Marta, Via Cantarane 24, Sala Vaona; Referente interno: Roberto Renò. Wed, 20 Nov 2019 12:00:00 +0100 http://www.dse.univr.it/?ent=seminario&rss=0&id=4787