This paper analyzes seller characteristics and choices in approximately 1000 eBay auctions for a particular model of PDA. Seller characteristics include frequency of selling, reputation, and the qualities of the product sold. Seller choices include the length of the auction, information provided...

This paper analyzes seller choices and outcomes in approximately 700 recent Internet auctions on eBay. The ‘Buy it Now’ option that is available in these auctions allows the seller to supplement or replace the auction with a posted price offer. We use a structural model to control...

The common characteristic of R&D joint ventures between oligopolistic competitors, arms reduction talks, and study groups in law school is cooperation with rivals. Players benefit from cooperation, but any gain by their partner weakens their own position when competing for profits, security, or...

We study prisoner’s dilemmas played in continuous time with flow payoffs over 60 seconds. In most cases, the median rate of mutual cooperation rises to 90% or more. Control sessions with 8-time repeated matchings achieve less than half as much cooperation, and cooperation rates...

A preference for negative reciprocity is an important part of the human emotional repertoire. We model its role in sustaining cooperative behavior but highlight an intrinsic free-rider problem: the fitness benefits of negative reciprocity are dispersed throughout the entire group, but the...

We introduce human traders into an agent based ï¬nancial market simulation prone to bubbles and crashes. We ï¬nd that human traders earn lower proï¬ts overall than do the simulated agents (“robotsâ€) but earn higher proï¬ts in the most crash-intensive periods. Inexperienced...

We construct game theoretic foundations for bargaining in the shadow of a trial. Plaintiff and defendant both have noisy signals of a common-value trial judgment and make simultaneous offers to settle. If the offers cross, they settle on the average offer; otherwise, both litigants incur an...

This pap er develops a theory of revealed preferences over oneís own and othersímonetary payoffs. We intro duce ímore altruistic thanî(MAT), a partial ordering over preferences, and interpret it with known parametric mo dels. We also intro duce and illustrate ímore generous thanî (MGT), a...

An irreversible investment opportunity has value V governed by Brownian motion with upward drift and random expiration. Human subjects choose in continuous time when to invest. If she invests before expiration, the subject receives V−C : the final value V less a given avoidable cost C ....