costs of signalling. We also study how the signalling activity and welfare on each side of the market change when we vary … version. Technically, the paper is based on the very elegant theory about stochastic ordering of (normalized) spacings and …. Proschan (1966, 1975) in the framework of reliability theory. …

experiment with more than 6000 subjects, including a subsample of 267 consultants from an international consulting firm. We also …

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 …

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 …

standardized goods by Italian public bodies and exploit a policy experiment associated with a national procurement agency. A …

consistent with what theory would predict. Large countries have not been induced to change sourcing patterns, while small …