In this Paper we show that a simple model of fairness preferences explains major experimental regularities of common … pool resource (CPR) experiments. The evidence indicates that in standard CPR games without communication and without …

This paper investigates physiological responses to perceptions of unfair pay. In a simple principal agent experiment … experiment we record agents' heart rate variability. The latter is an indicator of stress-related impaired cardiac autonomic … particular cardiovascular health, and fairness of pay. …

We present an economic experiment on network formation, in which subjects can decide to form links to one another …. Direct links are costly but being connected is valuable. The game-theoretic basis for our experiment is the model of Bala and …

This Paper reports on a two-task principal-agent experiment in which only one task is contractible. The principal can …-interest theory but is consistent with theories of fairness. …

systematically refutes the self-interest hypothesis and suggests that many people are strongly motivated by concerns for fairness and … insights into the nature of preferences and into the relative performance of competing theories of fairness. The purpose of …

euro area. Using a unique data set from the electronic trading platform Euro-MTS, we consider what is the ‘benchmark’ in … this market. We develop and apply two definitions of benchmark status that differ from the conventional view that the … benchmark is the security with lowest yield at a given maturity. Using Granger-causality and cointegration methods, we find a …

profits is still not well understood. In this Paper, I define a natural benchmark auction environment to compare any private … value auction with asymmetrically distributed valuations. I show that the expected revenue from the benchmark auction always …

strength. We then present three experiments that study main predictions and implications of the model. The first is a simple … principal-agent experiment that shows that consistency is valued by others and that this value is anticipated. The second … experiment underlines the crucial role of early commitment for consistency preferences. Finally we show how preferences for …