Learning to Wait: A Laboratory Investigation
نویسندگان
چکیده
Human subjects decide when to sink a xed cost C to seize an irreversible investment opportunity whose value V is governed by Brownian motion. The optimal policy is to invest when V rst crosses a threshold V ∗ = (1+w∗)C, where the wait option premiumw∗ depends on drift, volatility, and expiration hazard parameters. Subjects in the Low w∗ treatment on average invest at values quite close to optimum. Subjects in the two Medium and the High w∗ treatments invested at values below optimum, but with the predicted ordering, and values approached the optimum by the last block of 20 periods.
منابع مشابه
Teacher Wait-Time and Learner Initiation: A Single Case Analysis
The prevailing pattern of classroom interaction is a tripartite exchange structure known as IRF (teacher initiation, student response, teacher follow-up/feedback; Sinclair & Coulthard, 1975). Although it has its own contributions to classroom discourse, it has been criticized on several grounds, particularly for affording minimum learner participation opportunities (Kasper, 2001). An alternativ...
متن کاملLot Streaming in No-wait Multi Product Flowshop Considering Sequence Dependent Setup Times and Position Based Learning Factors
This paper considers a no-wait multi product flowshop scheduling problem with sequence dependent setup times. Lot streaming divide the lots of products into portions called sublots in order to reduce the lead times and work-in-process, and increase the machine utilization rates. The objective is to minimize the makespan. To clarify the system, mathematical model of the problem is presented. Sin...
متن کاملTeachers’ Limited Wait-Time Practice and Learners’ Participation opportunities in EFL Classroom Interaction
Pairing theory with methodology, this study demonstrates how EFL teachers’ limited wait-time practice structures in and affects the structuring of the unfolding classroom discourse with reference to learners’ participation opportunities. Informed by the tenets of conversation analysis, we have observed, videotaped, and transcribed line-by-line 10 EFL teachers’ naturally-occurring classroom inte...
متن کاملUsing quick response codes to facilitate self-directed learning in a nursing skills laboratory.
Using Quick Response Codes to Facilitate Self-Directed Learning in a Nursing Skills Laboratory Two-dimensional barcodes, called quick response (QR) codes, facilitate student autonomy in the nursing skills laboratory. Rather than wait for the teacher to demonstrate a specifi c skills component, students can activate a QR code, which is embedded in a laminated nursing skills rubrics card, via sma...
متن کاملA laboratory investigation on the potential of computational intelligence approaches to estimate the discharge coefficient of piano key weir
The piano key weir (PKW) is a type of nonlinear control structure that can be used to increase unit discharge over linear overflow weir geometries, particularly when the weir footprint area is restricted To predict the outflow passing over a piano key weir, the discharge coefficient in the general equation of weir needs to be known. This paper presents the results of laboratory model testing of...
متن کامل