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Trust and Reciprocity in Incentive Contracting

Rigdon, Mary - EconWPA - 2005

Principals can attempt to get agents to perform certain actions preferable to the principal by using ex post}punishments and rewards to align incentives. Field data is mixed on whether, and to what extent, such informal incentive contracting (paradoxically) crowds out efficient solutions to the...

Persistent link: https://www.econbiz.de/10005556679

Cultural differences in ultimatum game experiments: Evidence from a meta-analysis

Oosterbeek, Hessel; Sloof, Randolph; Kuilen, Gijs van de - EconWPA - 2004

This paper reports the findings of a meta-analysis of 37 papers with 75 results from ultimatum game experiments. We find that on average the proposer offers 40% of the pie to the responder. This share tends is smaller for larger pie sizes and larger when a strategy method is used or when...

Persistent link: https://www.econbiz.de/10005408211

Equilibrium PLay and Best Response to (Stated) Beliefs in Constant Sum Games

Biel, Pedro Rey - EconWPA - 2005

In a laboratory experiment, subjects played ten two-person 3x3 constant sum games and stated beliefs about the frequencies of play by their opponents. Contrary to previous experimental evidence, game-theoretical predictions work well: 80% of actions coincided with Nash equilibrium, subjects were...

Persistent link: https://www.econbiz.de/10005125558

The Monty Hall Dilemma Revisited: Understanding the Interaction of Problem Definition and Decision Making

Mueser, Peter R.; Granberg, Donald - EconWPA - 1999

We examine a logical decision problem, the "Monty Hall Dilemma," in which a large portion of sophisticated subjects insist on an apparently wrong solution. Although a substantial literature examines the structure of this problem, we argue that the extant analyses have not recognized the...

Persistent link: https://www.econbiz.de/10005125570

Income Distributions versus Lotteries: Happiness, Response Mode Effects and Preference Reversals

Morone, Andrea; Seidl, Christian; Camacho-Cuena, Eva - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005408217

CONSUMER SEARCH: NOT ENOUGH OR TOO MUCH?

Zwick, Rami; Rapoport, Amnon; Lo, Alison King Chung; … - EconWPA - 2001

We study search behavior in a generalized "secretary problem" environment in which consumers search sequentially for the best alternative from a known and finite set of multi-attribute alternatives. In contrast to most previous studies, we make no distributional assumptions about the quality of...

Persistent link: https://www.econbiz.de/10005408222

The Neural Basis of Financial Risk Taking

Kuhnen, Camelia; Knutson, Brian - EconWPA - 2005

Investors systematically deviate from rationality when making financial decisions, yet the mechanisms responsible for these deviations have not been identified. Using event-related fMRI, we examined whether anticipatory neural activity would predict optimal and suboptimal choices in a financial...

Persistent link: https://www.econbiz.de/10005556666

Equilibrium Play and Best Response in Sequential Constant Sum Games

Biel, Pedro Rey - EconWPA - 2005

We perform a further experiment to check the robustness of the main result in Rey Biel (2005) to sequential play. We find that Equilibrium predictions work even better when the same games are played sequentially: 85% of first movers choose the Equilibrium strategy and 85% of second movers best...

Persistent link: https://www.econbiz.de/10005556675

Experimental Evidence on the Divergence Between Measures of Willingness to Pay and Willingness to Accept--The Role of Value Uncertainty

Mueser, Peter R.; Dow, Jay K. - EconWPA - 1998

One of the most robust findings in experimental analysis in economics is that subjects often display a large discrepancy between the dollar value they are willing to accept in order to sell an item (WTA) and the dollar value they are willing to pay to purchase it (WTP). We suggest that often...

Persistent link: https://www.econbiz.de/10005556676

THE HIDDEN COSTS AND RETURNS OF INCENTIVES — TRUST AND TRUSTWORTHINESS AMONG CEOs

Fehr, Ernst; List, John A. - EconWPA - 2004

situations requiring trust and trustworthiness. As a control we compare the behavior of CEOs with the behavior of students. We …. However, the availability of penalizing incentives also creates hidden returns: if a principal expresses trust by voluntarily … threat is not available. Thus trust seems to reinforce trustworthy behavior. Overall, trustworthiness is highest if the …

Persistent link: https://www.econbiz.de/10005076520

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