IAER Seminar 139：Ariel Gu -- 活动 -- 东北财经大学

【报告人简介】

Ariel Gu，英国东英吉利大学（University of East Anglia）经济学院行为金融学助理教授，行为与实验社会科学研究中心（CBESS）行为金融研究组负责人，同时担任英国资产管理公司Chadwicks行为金融顾问。Ariel于2020年获英国杜伦大学金融学博士学位，曾任杜伦大学金融学助理教授。主要研究方向包括行为金融学、应用计量经济学及投资组合管理。其研究成果发表于Journal of Applied Econometrics、Journal of Empirical Finance、Economics Letters 等国际学术期刊。

【内容摘要】

Products featuring random reward mechanisms have become a staple of digital markets, generating billions of dollars in revenue worldwide. Despite their economic significance, relatively little is known about how consumers respond to unknown reward probabilities, how accurate their beliefs about these probabilities are, and how they update these beliefs based on past experience. We conduct a laboratory experiment using such a product as a natural source of uncertainty, and estimate structural parameters capturing decision makers’ ambiguity attitudes and subjective beliefs. We use these estimates to study how decision makers update their beliefs about the underlying probabilities as they observe rewards through repeated interactions with the product. We find that ambiguity attitudes change little with experience, whereas subjective beliefs adjust rapidly towards the underlying probabilities. Our findings provide behavioural insights into the effectiveness of mandatory disclosure of reward odds as a regulatory tool in digital markets.

【更多信息】

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撰稿：王杰审核：崔惠玉单位：高等经济研究院

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