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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 77 (2011)
Issue (Month): 3 (March)
Contact details of provider:
Web page: http://www.elsevier.com/locate/jebo
Learning Luck Asymmetric Outcome;
Other versions of this item:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alberto Alesina & George-Marios Angeletos, 2004.
"Fairness and Redistribution,"
NajEcon Working Paper Reviews
- Alberto Alesina & George-Marios Angeletos, 2004. "Fairness and Redistribution," Levine's Bibliography 122247000000000283, UCLA Department of Economics.
- Angeletos, George-Marios & Alesina, Alberto, 2005. "Fairness and Redistribution," Scholarly Articles 4553009, Harvard University Department of Economics.
- Gerard J. van den Berg & Jan C. van Ours & Menno P. Pradhan, 2001. "The Declining Price Anomaly in Dutch Dutch Rose Auctions," American Economic Review, American Economic Association, vol. 91(4), pages 1055-1062, September.
- Van den Steen, Eric, 2002.
"Skill or Luck? Biases of Rational Agents,"
4255-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Shaghil Ahmed & Andrew Levin & Beth Anne Wilson, 2002.
"Recent U.S. macroeconomic stability: good policies, good practices or good luck?,"
International Finance Discussion Papers
730, Board of Governors of the Federal Reserve System (U.S.).
- Shaghil Ahmed & Andrew Levin & Beth Anne Wilson, 2004. "Recent U.S. Macroeconomic Stability: Good Policies, Good Practices, or Good Luck?," The Review of Economics and Statistics, MIT Press, vol. 86(3), pages 824-832, August.
- Cuthbertson, Keith & Nitzsche, Dirk & O'Sullivan, Niall, 2008. "UK mutual fund performance: Skill or luck?," Journal of Empirical Finance, Elsevier, vol. 15(4), pages 613-634, September.
- Leung, H. M. & Tan, Swee Liang & Yang, Zhen Lin, 2004. "What has luck got to do with economic development? An interpretation of resurgent Asia's growth experience," Journal of Policy Modeling, Elsevier, vol. 26(3), pages 373-385, April.
- McAfee R. Preston & Vincent Daniel, 1993. "The Declining Price Anomaly," Journal of Economic Theory, Elsevier, vol. 60(1), pages 191-212, June.
- Olivier Compte & Andrew Postlewaite, 2004.
American Economic Review,
American Economic Association, vol. 94(5), pages 1536-1557, December.
- Olivier Compte & Andrew Postlewaite, 2003. "Confidence-Enhanced Performance," PIER Working Paper Archive 03-009, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Olivier Compte & Andrew Postlewaite, 2001. "Confidence-Enhanced Performance," PIER Working Paper Archive 04-023, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 May 2003.
- Hartzmark, Michael L, 1991. "Luck versus Forecast Ability: Determinants of Trader Performance in Futures Markets," The Journal of Business, University of Chicago Press, vol. 64(1), pages 49-74, January.
- Neugebauer, Tibor & Pezanis-Christou, Paul, 2007. "Bidding behavior at sequential first-price auctions with(out) supply uncertainty: A laboratory analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 63(1), pages 55-72, May.
- Erev, Ido & Roth, Alvin E, 1998. "Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria," American Economic Review, American Economic Association, vol. 88(4), pages 848-81, September.
- Paul Gompers & Anna Kovner & Josh Lerner & David Scharfstein, 2006. "Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs," NBER Working Papers 12592, National Bureau of Economic Research, Inc.
- Piketty, Thomas, 1995.
"Social Mobility and Redistributive Politics,"
The Quarterly Journal of Economics,
MIT Press, vol. 110(3), pages 551-84, August.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.