We construct a simple three person trust game with one trustor and two trustees. The trustor has the possibility to either trust both trustees or none, while the trustees make their decisions either sequentially or simultaneously, depending on the treatment. When trustees play sequentially,...

Social norms permeate society across a wide range of issues and are important to understanding how societies function. In this paper we concentrate on 'bad' social norms - those that are inefficient or even damaging to a group. This paper explains how bad social norms evolve and persist; our...

We analyze the impact of product bundling in experimental markets. One firm has monopoly power in a first market but competes with another firm à la Cournot in a second market. We compare treatments where the multi-product firm (i) always bundles, (ii) never bundles, and (iii) chooses whether...

This paper investigates the collusive and competitive effects of algorithmic price recommendations on market outcomes. These recommendations are often non-binding and common in many markets, especially on online platforms. We develop a theoretical framework and derive two algorithms that...

We study experimentally whether the endowment effect survives in a social and strategic context. Participants are asked for their Willingness-to-Accept (WTA) or Willingness-to-Pay (WTP) to play a series of 2x2 games. In the second part of the experiment, we study the endowment effect in...

Low self-control is considered a fundamental cause of crime. The aim of our study is to provide causal evidence on the link between self-control and criminal behavior. We test whether individuals with lower self-control behave in a more antisocial manner and are less risk-averse and thus are,...

We study fairness and reciprocity in a Hawk-Dove game. This alllows us to testvarious models in one framework. We observe a large extent of selfish and rationalbehavior. Our results are inconsistent with leading models in this field.

Financial misbehavior is widespread and costly. The Dutch government legally requires every employee in the financial sector to take a Hippocratic oath, the so-called "banker's oath." We investigate whether moral nudges that directly and indirectly remind financial advisers of their oath affect...

Empirical evidence supports the conventional wisdom that entrepreneurs are more optimistic and overconfident than others. However, the same holds true for top managers. In this lab-in-the-field experiment we directly compare the scores of entrepreneurs, managers and employees on a comprehensive...