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Long-term work contracts versus sequential spot markets : experimental evidence on firm-specific investment

Anderhub, Vital; Königstein, Manfred; Kübler, Dorothea - 1999

administered incentives. -- principal agent ; experiment ; specific human capital …

Persistent link: https://www.econbiz.de/10009580472

Efficient contracting and fair play in a simple principal-agent experiment

Anderhub, Vital; Gächter, Simon; Königstein, Manfred - 1999

observed in the experiment aim at fair surplus sharing. -- principal-agent theory ; contract theory ; fair sharing ; incentive …Modern 'principal-agent theory' has made a lot of progress in proposing theoretical Solutions to agency problems. This … evidence on offered contracts and effort choices in a simple agency game. In line with principal-agent theory we find that in …

Persistent link: https://www.econbiz.de/10009581090

Learning to bid : an experimental study of bid function adjustments in auctions and fair division games

Güth, Werner; Ivanova-Stenzel, Radosveta; Königstein, … - 1999

sequencing structure of game types, game rules do matter, and directional learning theory offers a partial explanation for bid …

Persistent link: https://www.econbiz.de/10009581102

Auctions and fair division games under different price rules : individual bid functions, prices and efficiency rates

Güth, Werner; Ivanova-Stenzel, Radosveta; Königstein, … - 1999

bidders. In our experiment participants face four auction types (first versus second price - auction versus fair division game …

Persistent link: https://www.econbiz.de/10009582405

Trust and reciprocity in the investment game with indirect reward

Güth, Werner; Königstein, Manfred; Marchand, Nadège; … - 2000

Experimental studies have shown that trust and reciprocity are effective in increasing efficiency when complete contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who receives the investment is the one who may reward the...

Persistent link: https://www.econbiz.de/10009612013

Combining rational choice and evolutionary dynamics : the indirect evolutionary approach

Königstein, Manfred; Müller, Wieland - 1999

that are well known from game theory and evolutionary game theory to solve these games. For illustration we include two …

Persistent link: https://www.econbiz.de/10009580475

Rank tests for unit roots

Breitung, Jörg; Gouriéroux, Christian - 1996

In order to obtain exact distributional results without imposing restrictive parametric assumptions, several rank counterparts of the Dickey-Fuller statistic are considered. In particular, a rank counterpart of the score statistic is suggested which appears to have attractive theoretical...

Persistent link: https://www.econbiz.de/10009630543

Some nonparametric tests for unit roots and cointegration

Breitung, Jörg - 1999

Following Bierens (1997a,b) and Vogelsang (1998a,b), unit root tests can be constructed which are asymptotically invariant to parameters involved by the short run dynamics of the process. Such an approach is called nonparametric by Bierens (1997b) and can be used to test a wide range of...

Persistent link: https://www.econbiz.de/10009580478

The local power of some unit root tests for panel data

Breitung, Jörg - 1999

do not require a bias correction. The results of a Monte Carlo experiment suggest that avoiding the bias can improve the …

Persistent link: https://www.econbiz.de/10009581103

Inference on the cointegration rank in fractionally integrated processes

Breitung, Jörg; Hassler, Uwe - 2000

depend only on the cointegration rank under the null hypothesis. The usefulness of the asymptotic theory for finite samples … is established in a Monte Carlo experiment. …

Persistent link: https://www.econbiz.de/10009611546