excess complexity. Educating consumers to reduce their evaluation noise would generate large welfare gains. But the gains … show that competition generally has a remarkably weak impact on markups. For normally distributed evaluation noise, we show … firms to choose even more excess complexity. Firms with lower intrinsic quality and higher production costs choose the most …

This paper presents a participation game experiment to study the impact of uncertainty and costly political …

laboratory experiment in which subjects participate in an emissions trading market in the presence of emissions uncertainty … experiment allows us to identify important interactions between emission shocks, banking and enforcement. Preliminary results …