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significantly higher than the expected value of a bidder with a low value signal. As a consequence, our experiment suggests that the …
Persistent link: https://www.econbiz.de/10005453700
We use an experiment to compare two institutions for allocating the proceeds of team production. Under revenue …
Persistent link: https://www.econbiz.de/10005453707
higher revenues. In our experiment, there is no evidence that TCE are played. The experiment suggests that the uniform price …
Persistent link: https://www.econbiz.de/10005453722
We report an experiment comparing sequential and simultaneous contributions to a public good in a quasi-linear two …
Persistent link: https://www.econbiz.de/10005453723
Property rights theory suggests that vertical integration is a sensible solution to hold-up problems and therefore improves social welfare. Theories of reciprocity, in contrast, suggest that vertical integration can reduce social welfare if it implies an unfair distribution. Translating the...
Persistent link: https://www.econbiz.de/10004970834
Some researchers have argued that anchoring in economic valuations casts doubt on the assumption of consistent and stable preferences. We present new evidence that questions the robustness of certain anchoring results. We then present a theoretical framework that provides insights into why we...
Persistent link: https://www.econbiz.de/10011154551
We report an experiment examining risk taking and information aggregation in groups. Group members come to the table …
Persistent link: https://www.econbiz.de/10011154553
We examine the relationship between confidence in own absolute performance and risk attitudes using two elicitation procedures: self-reported (non-incentivised) confidence and an incentivised procedure that elicits the certainty equivalent of a bet based on performance. The former procedure...
Persistent link: https://www.econbiz.de/10011123426
We examine confidence in own absolute performance using two elicitation procedures: self-reported (non-incentivised) confidence and an incentivised procedure that elicits the certainty equivalent of a bet based on performance. The former procedure reproduces the“hard-easy effectâ€...
Persistent link: https://www.econbiz.de/10011123428
experiment using prepared, restaurant-style meals—a good that is transparent in immediate pleasure (taste) but non-transparent in …
Persistent link: https://www.econbiz.de/10010818646