Showing 1 - 10 of 110
Many committees—juries, political task forces, etc.—spend time gathering costly information before reaching a decision. We report results from lab experiments focused on such information-collection processes. We consider decisions governed by individuals and groups and compare how voting...
Persistent link: https://www.econbiz.de/10013311705
We report an experiment comparing sequential and simultaneous contributions to a public good in a quasi-linear two-person setting (Varian, Journal of Public Economics, 1994). Our findings support the theoretical argument that sequential contributions result in lower overall provision than...
Persistent link: https://www.econbiz.de/10010273783
Centralized sanctioning institutions are of utmost importance for overcoming free-riding tendencies and enforcing outcomes that maximize group welfare in social dilemma situations. However, little is known about how such institutions come into existence. In this paper we investigate, both...
Persistent link: https://www.econbiz.de/10010263974
In standard coalition games, players try to form a coalition to secure a prize and a coalition agreement specifies how the prize is to be split among its members. However, in practical situations where coalitions are formed, the actual split of the prize often takes place after the coalition...
Persistent link: https://www.econbiz.de/10013235112
We analyze equilibria of two-player contests where players have intention-based preferences. We find that players invest more effort compared to the case with selfish preferences and are even willing to exert effort when the monetary value of the prize converges to zero. As a consequence,...
Persistent link: https://www.econbiz.de/10010291500
We examine speculative attacks in a controlled laboratory environment featuring continuous time, size asymmetries, and varying amounts of public information. Attacks succeeded in 233 of 344 possible cases. When speculators have symmetric size and access to information: (a) weaker fundamentals...
Persistent link: https://www.econbiz.de/10010264454
We introduce “group cohesion” to study the economic relevance of social relationships in team production. We operationalize measurement of group cohesion, adapting the “oneness scale” from psychology. A series of experiments, including a pre-registered replication, reveals strong...
Persistent link: https://www.econbiz.de/10014076998
This paper examines the usefulness of Kalai (2020)’s measure of the viability of Nash equilibrium. We experimentally study a class of participation games, which differ in the number of players, the success threshold, and the payoff to not participating. We find that Kalai’s measure captures...
Persistent link: https://www.econbiz.de/10014077192
Unfavorable news are often delivered under the disguise of vagueness. But are people sufficiently naive to be fooled by such positive spin? We use a theoretical model and a laboratory experiment to study the strategic use of vagueness in a voluntary disclosure game. Consider a sender who aims at...
Persistent link: https://www.econbiz.de/10012908648
We experimentally study settings where an individual may have an incentive to adopt negative beliefs about another’s intentions in order to justify egoistic behavior. Our first study uses a game in which a player can take money from an opponent in order to prevent the opponent from...
Persistent link: https://www.econbiz.de/10012891985