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Willingness to Pay to Reduce Future Risk

Engle-Warnick, Jim; Héroux, Julie; Montmarquette, Claude - Centre Interuniversitaire de Recherche en Analyse des … - 2009

We elicit subjects' willingness to pay to reduce future risk. In our experiments, subjects are given a cash endowment … of uncertainty in our experiments. In two additional treatments, we control for future uncertainty with a continuation …

Persistent link: https://www.econbiz.de/10004988529

Learning from Strike

Tournadre, Fabienne; Villeval, Marie-Claire - Centre Interuniversitaire de Recherche en Analyse des … - 2001

This paper reports on an experimental study of the influence of asymmetric information and information spillovers on bargaining outcomes. It develops and tests Kuhn and Gu (1999) s model of learning in sequential wage negotiations, by means of two Ultimatum Bargaining Games with uncertainty on...

Persistent link: https://www.econbiz.de/10005169010

Bubbles and Experience: An Experiment with a Steady Inflow of New Traders

Xie, Huan; Zhang, Jipeng - Centre Interuniversitaire de Recherche en Analyse des … - 2012

We revisit the effect of traders' experience on price bubbles by introducing either one-third or two-thirds steady inflow of new traders in the repeated experimental asset markets. We find that bubbles are not significantly abated by the third repetition of the market with the inflow of new...

Persistent link: https://www.econbiz.de/10009652124

Piece Rates, Fixed Wages and Incentives: Evidence from a Field Experiment

Shearer, Bruce S. - Centre Interuniversitaire de Recherche en Analyse des … - 2003

Data from a field experiment are used to estimate the gain in productivity that is realized when workers are paid piece rates rather than fixed wages. The experiment was conducted within a tree-planting firm and provides daily observations on individual worker productivity under both copensation...

Persistent link: https://www.econbiz.de/10005100753

Compensation Policy and Worker Performance: Identifying Incentive Effects from Field Experiments

Shearer, Bruce S. - Centre Interuniversitaire de Recherche en Analyse des … - 2003

The role of field experiments in evaluating the effect of compensation policies on worker productivity is considered …. While field experiments solve endogeneity problems through randomization, they do so within a specific, and at times … unrestricted identification of incentive effects, experiments are better thought of as providing exogenous variation with which to …

Persistent link: https://www.econbiz.de/10005100968

A Simple Test of Learning Theory

Engle-Warnick, Jim; Hopkins, Ed - Centre Interuniversitaire de Recherche en Analyse des … - 2006

We report experiments designed to test the theoretical possibility, first discovered by Shapley (1964), that in some …

Persistent link: https://www.econbiz.de/10005101118

A Dynamic Duopoly Investment Game without Commitment under Uncertain Market Expansion

Boyer, Marcel; Lasserre, Pierre; Moreaux, Michel - Centre Interuniversitaire de Recherche en Analyse des … - 2011

We model capacity-building investments in a homogeneous product duopoly facing uncertain demand growth. Capacity building is achieved through the addition of production units that are durable and lumpy and whose cost is irreversible. While building their capacity over time, firms compete à la...

Persistent link: https://www.econbiz.de/10009350695

Contrat dynamique de partage de risque avec contraintes d'engagement et épargne

Gobert, Karine; Poitevin, Michel - Centre Interuniversitaire de Recherche en Analyse des … - 1997

This paper studies the effect of combining different insurance schemes on the efficiency of consumption smoothing in an environment without commitment. A savings account is introduced into the self-enforcing risk-sharing model of Thomas and Worrall (1988). The risk averse agent's savings play...

Persistent link: https://www.econbiz.de/10005100656

Designing a Performance Indicator to Economize on Monopoly Subsidy

Benchekroun, Hassan; Long, Ngo Van - Centre Interuniversitaire de Recherche en Analyse des … - 2004

We provide a continuum of subsidy rules based on a performance indicator that induce a monopoly to choose the socially optimal production level. These subsidy rules result in a reduction of the amount of subsidy paid to the monopolist compared to the standard case where a constant subsidy rate...

Persistent link: https://www.econbiz.de/10005100733

Testing the Option Value Theory of Irreversible Investment

Harchaoui, Tarek M.; Lasserre, Pierre - Centre Interuniversitaire de Recherche en Analyse des … - 1999

This paper statistically tests the option theory of irreversible investment under uncertainty. Using contingent claims valuation, we derive the value of options to invest in capacity, where the projects are endogenous to the economic circumstances prevailing at the investment date. We then test...

Persistent link: https://www.econbiz.de/10005100855