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Brandts, Jordi; Riedl, Arno; Winden, Frans A.A.M. van - C.E.P.R. Discussion Papers - 2006

This paper experimentally studies the effects of competition in an environment where people's actions can not be … contractually fixed. We find that, in comparison with no competition, the presence of competition does neither increase efficiency … nor does it yield any gains in earnings for the short side of the exchange relation. Moreover, competition has a clearly …

Persistent link: https://www.econbiz.de/10005123778

The Dark Side of the Vote: Biased Voters, Social Information, and Information Aggregation Through Majority Voting

Morton, Rebecca; Piovesan, Marco; Tyran, Jean-Robert - C.E.P.R. Discussion Papers - 2012

We experimentally investigate information aggregation through majority voting when some voters are biased. In such situations, majority voting can have a “dark side”, i.e. result in groups making choices inferior to those made by individuals acting alone. We develop a model to predict how...

Persistent link: https://www.econbiz.de/10011083707

Trust and Deterrence

Bigoni, Maria; Fridolfsson, Sven-Olof; Le Coq, Chloé; … - C.E.P.R. Discussion Papers - 2012

This paper presents results from a laboratory experiment on the channels through which different law enforcement strategies deter cartel formation. With leniency policies offering immunity to the first reporting party a high fine is the main determinant of deterrence, having a strong effect even...

Persistent link: https://www.econbiz.de/10011084601

Communication, Renegotiation, and the Scope for Collusion

Cooper, David J.; Kühn, Kai-Uwe - C.E.P.R. Discussion Papers - 2009

We use experiments to analyze what type of communication is most effective in achieving cooperation in a simple collusion game. Consistent with the existing literature on communication and collusion, even minimal communication leads to a short run increase in collusion. However, in a limited...

Persistent link: https://www.econbiz.de/10008558586

The nature of information and its effect on bidding behavior: laboratory evidence in a common value auction

Brocas, Isabelle; Carrillo, Juan D; Castro, Manuel - C.E.P.R. Discussion Papers - 2010

We study in the laboratory a series of first price sealed bid auctions of a common value good. Bidders face three types of information: private information, public information and common uncertainty. Auctions are characterized by the relative size of these three information components. According...

Persistent link: https://www.econbiz.de/10008468529

Measuring attention and strategic behavior in games with private information

Brocas, Isabelle; Camerer, Colin; Carrillo, Juan D; … - C.E.P.R. Discussion Papers - 2009

In experiments, people do not always appear to think very strategically or to infer the information of others from their choices. To understand this thinking process further, we use "Mousetracking" to record which game payoffs subjects look at, for how long, in games of private information with...

Persistent link: https://www.econbiz.de/10008567802

Sequential Auctions with Capacity Constraints: an Experimental Investigation

Brocas, Isabelle; Carrillo, Juan D; Otamendi, F. Javier - C.E.P.R. Discussion Papers - 2015

We conduct a laboratory experiment where groups of 4 subjects constrained to obtain at most one good each, sequentially bid for 3 goods in first and second price auctions. Subjects learn at the beginning of each auction their valuation for the good and exit the auction once they have obtained...

Persistent link: https://www.econbiz.de/10011145460

Do Sellers Offer Menus of Contracts to Separate Buyer Types? An Experimental Test of Adverse Selection Theory

Hoppe, Eva I; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2013

In the basic adverse selection model, a seller makes a contract offer to a privately informed buyer. A fundamental hypothesis of incentive theory is that the seller may want to offer a menu of contracts to separate the buyer types. In the good state of nature, total surplus is not different from...

Persistent link: https://www.econbiz.de/10011083588

Competition Fosters Trust

Huck, Steffen; Ruchala, Gabriele K.; Tyran, Jean-Robert - C.E.P.R. Discussion Papers - 2006

We study the effects of reputation and competition in a stylized market for experience goods. If interaction is …, we find that competition, coupled with some minimal information, eliminates the trust problem almost completely. …

Persistent link: https://www.econbiz.de/10005136615

Choosing to Compete: How different are girls and boys?

Booth, Alison L; Nolen, Patrick - C.E.P.R. Discussion Papers - 2009

competition. Our subjects (students just under 15 years of age) attend publicly-funded single-sex and coeducational schools. We …

Persistent link: https://www.econbiz.de/10005082535

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