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Financing of Public Goods through Taxation in a General Equilibrium Economy: Experimental Evidence

Huber, Juergen; Shubik, Martin; Sunder, Shyam - Cowles Foundation for Research in Economics, Yale University - 2011

We compare laboratory general equilibrium economies in which maintenance of a depreciating public facility is financed either by anonymous voluntary contributions or taxes. Agents individually allocate their private goods between consumption and investment in production. The experimental...

Persistent link: https://www.econbiz.de/10010686937

Fairness through the Lens of Cooperative Game Theory: An Experimental Approach

Clippel, Geoffroy de; Rozen, Kareen - Cowles Foundation for Research in Economics, Yale University - 2013

This paper experimentally investigates cooperative game theory from a normative perspective. Subjects designated as Decision Makers express their view on what is fair for others, by recommending a payoff allocation for three subjects (Recipients) whose substitutabilities and complementarities...

Persistent link: https://www.econbiz.de/10010895694

Dynamic Strategic Information Transmission

Golosov, Mikhail; Skreta, Vasiliki; Tsyvinski, Aleh; … - Cowles Foundation for Research in Economics, Yale University - 2011

This paper studies strategic information transmission in a dynamic environment where, each period, a privately informed expert sends a message and a decision maker takes an action. Our main result is that, in contrast to a static environment, full information revelation is possible. The gradual...

Persistent link: https://www.econbiz.de/10009019140

Promises and Expectations

Ederer, Florian; Stremitzer, Alexander - Cowles Foundation for Research in Economics, Yale University - 2013

effects. In a controlled laboratory experiment we show that exogenous variation of second-order expectations (promisors …

Persistent link: https://www.econbiz.de/10011252589

Financing of Public Goods through Taxation in a General Equilibrium Economy: Theory and Experimental Evidence

Huber, Juergen; Shubik, Martin; Sunder, Shyam - Cowles Foundation for Research in Economics, Yale University - 2011

We compare general equilibrium economies in which building and maintenance of a depreciating public facility is financed either by anonymous voluntary contributions or by taxing agents on their income from private production. Agents start with an endowment of private goods and money, while the...

Persistent link: https://www.econbiz.de/10009352219

Revealed Preferences for Risk and Ambiguity

Brown, Donald J.; Erdman, Chandra; Ling, Kirsten; … - Cowles Foundation for Research in Economics, Yale University - 2010

We replicate the essentials of the Huettel et al. (2006) experiment on choice under uncertainty with 30 Yale …

Persistent link: https://www.econbiz.de/10008692925

Risky Curves: From Unobservable Utility to Observable Opportunity Sets

Friedman, Daniel; Sunder, Shyam - Cowles Foundation for Research in Economics, Yale University - 2011

Most theories of risky choice postulate that a decision maker maximizes the expectation of a Bernoulli (or utility or similar) function. We tour 60 years of empirical search and conclude that no such functions have yet been found that are useful for out-of-sample prediction. Nor do we find...

Persistent link: https://www.econbiz.de/10009251218

Testing for Fictive Learning in Decision-Making under Uncertainty

Bunn, Oliver; Calsamiglia, Caterina; Brown, Donald J. - Cowles Foundation for Research in Economics, Yale University - 2013

are lotteries where the relative frequencies of outcomes are not known or may not exist. The trials in each experiment are … process used to generate the relative frequencies of the payoffs of the ambiguous lotteries. In the first experiment, the … ambiguous lotteries. In the second experiment the sample averages do not converge. If we define fictive learning in an …

Persistent link: https://www.econbiz.de/10010895663

Fictive Learning in Choice under Uncertainty: A Logistic Regression Model

Brown, Donald J.; Bunn, Oliver; Calsamiglia, Caterina; … - Cowles Foundation for Research in Economics, Yale University - 2013

This paper is an exposition of an experiment on revealed preferences, where we posit a novel discrete binary choice …

Persistent link: https://www.econbiz.de/10010895691

Sufficiency of an Outside Bank and a Default Penalty to Support the Value of Fiat Money: Experimental Evidence

Huber, Juergen; Shubik, Martin; Sunder, Shyam - Cowles Foundation for Research in Economics, Yale University - 2008

We present a model in which an outside bank and a default penalty support the value of fiat money, and experimental evidence that the theoretical predictions about the behavior of such economies, based on the Fisher-condition, work reasonably well in a laboratory setting. The import of this...

Persistent link: https://www.econbiz.de/10010895696

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