in an experiment where actions are strategic substitutes. The game theoretic basis for our experiment is the model of …

We conduct a controlled laboratory experiment where subjects dynamically choose their portfolio allocation between a …

-based questionnaire before the experiment and participants’ preferences for resolution timing, risk, and time were incentive compatibly … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the …

direction, we have conducted a laboratory experiment with 490 participants. We consider "cooperative" investments that directly … benefit the non-investing party. While according to standard theory, contracting would be useless if renegotiation cannot be …

cornerstone of contract theory. We have conducted an experiment with 720 participants to explore whether the theoretical insights … are reflected by the behavior of subjects in the laboratory and to what extent deviations from standard theory can be … agency theory is indeed useful to qualitatively predict how variations in the degree of uncertainty affect subjects' behavior …

A central insight of agency theory is that when a principal offers a contract to a privately informed agent, the … report about an experiment with 508 participants designed to test whether this fundamental trade-off is actually relevant. In … particular, we investigate settings with both exogenous and endogenous information structures. We find that theory is indeed a …

consistent with the theoretical results: in the experiment, investment levels with and without legal protection are comparable …