We examine firm managers' incentives to commit fraud in a model where firms seek funding from investors and investors … can monitor firms at a cost in order to get more precise information about firm prospects. We show that fraud incentives … funded without committing fraud, whereas in bad times investors are more vigilant and it is harder to commit fraud …

We describe a multiproduct barter trading experiment in which students exchange real goods in an open market based on … their own personal preference. The experiment is designed for simulating a pure exchange market in order to demonstrate the …

This note describes an experiment, which is an extension of the experiment proposed by Levy and Bergen (1993). The … experiment is designed to simulate an environment where something that is very similar to fiat money (i.e., is homogenous …