employees to accept lower wages as well? As an alternative to reviewing statistical data, we have performed an experiment with a … lower competitive wage in the second phase of an employment relationship that is known to both parties. The experiment casts …

find that within the time horizon which we investigate, learning does not drive toward risk neutral equilibrium bidding and …

bidders. In our experiment participants face four auction types (first versus second price - auction versus fair division game … of individual bid functions) the evidence for risk aversion, the comparative statics with respect to the game type, the …

We review an asymmetric auction experiment. Based on Plum (1992) private valuations of the two bidders are … independently drawn from distinct but commonly known distributions, one of which stochastically dominating the other. We test the … the strong and then test bidders’ preference for first- vs. second–price auctions. -- Experiments ; Sealed Bid Auctions …

player can obtain a signal for free (as in the experiment by Anderson and Holt, 1997, American Economic Review), the case of …

contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who … receives the investment is the one who may reward the investor. This is a direct reward game. Similar to Dufwenberg et al … investor may only be rewarded by a third person who did not receive his investment. Furthermore we investigate the influence of …

observed in the experiment aim at fair surplus sharing. -- principal-agent theory ; contract theory ; fair sharing ; incentive …