voting body may affect the balance of power between the original members even if their number of votes and the decision rule … majority voting rules, and we measure the voting power of a player by his average payoff in the experiment. By comparing voting … power across voting bodies of varying size, we find empirical support for the paradox of new members. Our results also allow …

, the impact of ex post incentives on informal contracts between principals and agents in bargaining environments in which … of those gains. Incentive contracting in these environments does not crowd-out off- equilibrium cooperation, and at high …

except autarky. Under adaptive expectations, the distribution of employment converges to a rational expectations equilibrium …

to be corrected by the counter-actions of „rational“ investors reestablishing equilibrium. However, empirical evidence of …