We conduct a laboratory experiment where third-party spectators can redistribute resources between two agents, thereby … inequalities, but many follow an interior allocation rule previously unaccounted for by the fairness views in the literature. These …

such a gap upon trade in the context of NAFTA. …

This book discusses legalized protectionism in the World Trade Organization and what to do about it. …

only with a renewed commitment to open multilateral trade. …

Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we … population for our experiment. By presenting subjects with choice tasks that vary the bias induced by random choices, we are able … to generate both negative and positive correlations between risk aversion and cognitive ability. Structural estimation …

This paper tests the insiders' dilemma hypothesis in a laboratory experiment. The insiders' dilemma means that a … rather than exogenous merger theory. More surprisingly, our data suggests that fairness considerations also make profitable …

particular the occurrence of bubble-crash pricing patterns. In each session, six subjects trade in three successive market rounds …