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”substitute” for time discounting in the infinitely repeated game, as fairness helps sustain cooperation for lower discount … factors. In addition, such cooperation can be supported under larger parameter values if players are informed about each …
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The focus of Volume 17 of Research on Emotion in Organizations is on how negative emotions at work can be intense due …
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We study the Lagos and Wright (2005) model of monetary exchange in the laboratory. With a finite population of sufficiently patient agents, this model has a unique monetary equilibrium and a continuum of non-monetary gift exchange equilibria, some of which Pareto dominate the monetary...
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Rational Expectations (RE) models have two crucial dimensions: (i) agents on average correctly forecast future prices given all available information, and (ii) given expectations, agents solve optimization problems and these solutions in turn determine actual price realizations. Experimental...
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We report results from a laboratory experiment exploring the extent to which individuals can solve a deterministic …
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