Simultaneous versus sequential information processing
AbstractSubjects update prior information simultaneously versus sequentially. The mean prediction is remarkably close to the correct Bayesian estimate with simultaneous information, but differs significantly conditional on whether good news precedes bad news or vice versa.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 112 (2011)
Issue (Month): 1 (July)
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Web page: http://www.elsevier.com/locate/ecolet
Information processing Sequential information Simultaneous information Bayesian updating;
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