Competition among producers within an integrated electricity system is impeded by any limited transmission capacity there may be at its borders. Two alternative market mechanisms have recently been designed to organize the allocation of scarce transmission capacity at cross-border level : (i)...

In this paper, we propose to compare different partial transparency regimes in order to determine the optimal diessemination policy by the central bank, using an experimental approach. A treatment dedicated to the benchmark situation (where information is fully released) is also available. Our...

We examine the temporal stability of risk preference measures obtained by different elicitation methods in a controlled laboratory experiment at two distinct times. Our results indicate remarkable temporal stability of risk measures at the aggregated level and temporal instability at the...

This article addresses the reactions of the Union of South American Nations (UNASUR) economies to external shocks. Because it was conceived as a political alliance, the UNASUR is likely to be a promising integration project. Thus, assessing the union from an economic perspective is essential....

Les premières expériences de marché réalisées par Vernon Smith [1962] ont mis en évidence l’importance des institutions de marché pour l’efficacité des échanges. Ces institutions organisent la communication d’information entre les acteurs du marché et structurent les incitations...

Although economics has long been considered as a non-experimental science, the development of experimental economics and behavioral economics is amazingly rapid and affects most fields of research. This paper first attempts at defining the main contributions of experiments to economics. It also...

Nous testons ici les dispositions à payer des consommateurs pour des aliments transgéniques de seconde génération, c’est-à-dire ayant des caractéristiques innovantes attractives pour le consommateur par rapport au produit conventionnel. Nous testons également les dispositions à payer...

Individual preferences must be evaluated to take into account the citizens’ interests for public decisions. Usually, economists assess individual preferences through market decisions. But more often, public decisions impact goods without market prices. Without a market to refer to, evaluating...

This paper presents the results of an experiment performed to test the properties of an innovative bargaining mechanism (called automated negotiation) used to resolve disputes arising from Internet-based transactions. Automated negotiation is an online sealed-bid process in which an automated...