Replication data for: Time and State Dependence in an Ss Decision Experiment

Jacopo Magnani, Ryan Oprea & Aspen Gorry
Flow earnings in a laboratory experiment decline the further a Brownian state variable, z, evolves from its optimal level, z*. Optimal state dependent models predict subjects will pay a fixed cost to return z to z* only when z strays outside a critical inaction region around the optimum. On average, subjects adjust at states remarkably close to optimal threshold levels but, as in the field, do not establish true \"state dependent\" inaction regions, suggesting significant...
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