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 … restriction theory of monetary economics. …

}punishments and rewards to align incentives. Field data is mixed on whether, and to what extent, such informal incentive contracting …, the impact of ex post incentives on informal contracts between principals and agents in bargaining environments in which …

(theoretically) that adding search to a simple bargaining mechanism eliminates some unsatisfactory features of bargaining theory. Our … experiment reveals that the model can account for some (but not all) of the behavioral regularities. In line with recent … developments in behavioral decision theory and game theory, which assume bounded rationality and preferences over the relative …

We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was … traced to the different incentives structures rather than the experimental environment. …

We examine experimentally how Chief Executive Officers (CEOs) respond to incentives and how they provide incentives in … higher efficiency levels than students. Moreover, we find that, for CEOs as well as for students, incentives based on … explicit threats to penalize shirking backfire by inducing less trustworthy behavior—giving rise to hidden costs of incentives …