Born under a lucky star?
AbstractThis paper suggests that people can learn to behave in a way which makes them persistently unlucky or lucky. Learning from one's own experience, as it reinforces a few lucky or unlucky outcomes in early periods, will lead them to repeatedly make choices that lead to lucky or unlucky outcomes. In this situation, people have reasonably learned to behave as they do and their behavior is consistent with their experience. The lucky ones were not "born under a lucky star"; they learned to be lucky.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 77 (2011)
Issue (Month): 3 (March)
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Web page: http://www.elsevier.com/locate/jebo
Learning Luck Asymmetric Outcome;
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