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dc.contributor.authorBou, Silvia
dc.contributor.authorBrandts, Jordi
dc.contributor.authorCayón, Magda
dc.contributor.authorGuillén, Pablo
dc.date.accessioned2013-07-05
dc.date.available2013-07-05
dc.date.issued2013-06-01
dc.identifier.urihttp://hdl.handle.net/2123/9242
dc.description.abstractWe find that the vast majority of students taking an advanced undergraduate finance course show a preference for luck in a classroom experiment. In Phase I of the experiment part of the students, group A, were asked to guess a coin toss five times in a row. In Phase II the rest of the students, group B, were given 10 EUR to bet on some of the Group A students taking a second go at guessing a sequence of five coin tosses (Phase III). Group B students’ bets were by default allocated to the worse performing student in Phase I. Switching to better performing Group A students was costly. A total of 23 out of 28 students were willing to pay for switching and thus showed a preference for luck.en_AU
dc.language.isoen_AUen_AU
dc.publisherSchool of Economicsen_AU
dc.relation.ispartofseries2013-10en_AU
dc.subjectDecision heuristicsen_AU
dc.subjecthot hand fallacyen_AU
dc.subjectexperimentsen_AU
dc.titleThe Price of Lucken_AU
dc.typeWorking Paperen_AU
dc.contributor.departmentSchool of Economicsen_AU


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