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Born Under a Lucky Star?

Author

Listed:
  • Nobuyuki Hanaki
  • Alan Kirman
  • Matteo Marsili

Abstract

This paper suggests that people can learn to behave in a way which makes them unlucky or lucky. Learning from experience will lead them to make choices which may lead to "luckier" outcomes than others. By so doing they may reinforce the choices of those who find themselves with unlucky outcomes. In this situation, people have reasonably learned to behave as they do and their behaviour is consistent with their experience. The lucky ones were not "born under a lucky star" they learned to be lucky.

Suggested Citation

  • Nobuyuki Hanaki & Alan Kirman & Matteo Marsili, 2009. "Born Under a Lucky Star?," Tsukuba Economics Working Papers 2009-003, Faculty of Humanities and Social Sciences, University of Tsukuba.
    • Handle: RePEc:tsu:tewpjp:2009-003
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    File URL: https://pepp.hass.tsukuba.ac.jp/RePEc/2009-003.pdf
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    References listed on IDEAS

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    2. Hanaki, Nobuyuki & Sethi, Rajiv & Erev, Ido & Peterhansl, Alexander, 2005. "Learning strategies," Journal of Economic Behavior & Organization, Elsevier, vol. 56(4), pages 523-542, April.
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    9. Cuthbertson, Keith & Nitzsche, Dirk & O'Sullivan, Niall, 2008. "UK mutual fund performance: Skill or luck?," Journal of Empirical Finance, Elsevier, vol. 15(4), pages 613-634, September.
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    12. Leung, H. M. & Tan, Swee Liang & Yang, Zhen Lin, 2004. "What has luck got to do with economic development? An interpretation of resurgent Asia's growth experience," Journal of Policy Modeling, Elsevier, vol. 26(3), pages 373-385, April.
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    Cited by:

    1. Yamada, Takashi & Hanaki, Nobuyuki, 2016. "An experiment on Lowest Unique Integer Games," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 463(C), pages 88-102.
    2. Vee-Liem Saw & Lock Yue Chew, 2020. "No-boarding buses: Synchronisation for efficiency," PLOS ONE, Public Library of Science, vol. 15(3), pages 1-34, March.
    3. Aleksandra Alori'c & Peter Sollich & Peter McBurney, 2017. "Spontaneous Segregation of Agents Across Double Auction Markets," Papers 1708.09327, arXiv.org.
    4. Aleksandra Aloric & Peter Sollich & Peter McBurney & Tobias Galla, 2015. "Emergence of Cooperative Long-term Market Loyalty in Double Auction Markets," Papers 1510.07927, arXiv.org, revised Aug 2017.
    5. Aleksandra Alorić & Peter Sollich & Peter McBurney & Tobias Galla, 2016. "Emergence of Cooperative Long-Term Market Loyalty in Double Auction Markets," PLOS ONE, Public Library of Science, vol. 11(4), pages 1-26, April.

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