search query: @author Brown, P. / total: 11
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| Author: | Brown, P. |
| Title: | Experimental evidence on the importance of competing for profits on forecasting accuracy |
| Journal: | Journal of Economic Behavior and Organization
1998 : JAN, VOL. 33:2, p. 259-270 |
| Index terms: | ECONOMIC BEHAVIOUR ORGANIZATION FORECASTING |
| Language: | eng |
| Abstract: | Subjects' forecasts of the price of a stock were compared across two experiment conditions. Payments were determined by a tournament based on forecasting accuracy, with the conditions differing in the number of subjects earning positive profits. The results suggest that subjects who consistently lost money learned to form more accurate forecasts than others who consistently made positive profits. The implications of these results for learning in markets are discussed in terms of previous research. |
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