It is well known that the no-arbitrage condition in forward markets is obtained as a feature of the equilibrium if the model allows for strategic behavior on the part of the buyers. We experimentally test for the no-arbitrage condition in a forward market by allowing for active buyers. We test...

The lack of price guidance towards efficiency relevant packages in ascending combinatorial clock auctions (ACCA) can lead to a low-efficiency allocation of goods. We propose a descending price combinatorial clock auction (DCCA) with a newly devised pricing strategy to improve on this problem....

Human decision making in the social domain is modulated by the interaction between fast (intuitive) and slow (reflective) processes. Forcing individuals to decide quickly, versus slowly, is likely to elicit different social behaviors. Similarly, individual choices may also depend on the time...