The Helsinki GSE Discussion Paper series is available on EconStor. EconStor is an open access server that provides a platform for the free distribution of academic literature in economics.
People often draw inferences from sequences of past performance, sometimes perceiving patterns even in random outcomes. This has fueled debates regarding phenomena such as the hot hand and gambler’s …
Discussion paper
This paper examines reference-dependent stopping in repeated risky decisionmaking and its relation to skill dependence and individual ability. Using field data from online heads-up poker tournaments, …
Discussion paper
Received wisdom holds that income rank matters for life satisfaction, but causal evidence on the nature and impact of income comparisons is limited. We randomize individuals from a representative …
Discussion paper
Chasing and the house money effect are well-known phenomena in dynamic environments of risky activities such as investment decisions or gambling. Recent studies suggest that such behavior emerges …
Discussion paper
Received wisdom holds that income rank matters for life satisfaction. In much of the literature, however, income comparisons are limited to the national population and evidence is correlational. In …
Discussion paper