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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...
Persistent link: https://www.econbiz.de/10008791522
systematic randomization between noncomparable options may lead to a chain of decisions resulting in monetary losses (a money … randomizing. Thus, randomization among noncomparable options is costly relative to deliberate selection. On the other hand …, randomization among indifferent options is costless relative to deliberate selection. …
Persistent link: https://www.econbiz.de/10010898935
Causation between time series is a most important topic in econometrics, financial engineering, biological and …
Persistent link: https://www.econbiz.de/10010899129
Cellular Manufacturing (CM) system has been recognized as an efficient and effective way to improve productivity in a factory. In recent years, there have been continuous research efforts to study different facet of CM system. The literature does not contain much published research on CM design...
Persistent link: https://www.econbiz.de/10008788856
success of a risky project depends on the participation of a minimum number of investors. The experiment is set up as a …
Persistent link: https://www.econbiz.de/10010930171
that comparisons are more ordinal than cardinal. Their experiment also reveals that comparisons over time affect effort …
Persistent link: https://www.econbiz.de/10009651415
success of a risky project depends on the participation of a minimum number of investors. The experiment is set up as a …
Persistent link: https://www.econbiz.de/10009211245
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) the...
Persistent link: https://www.econbiz.de/10009278343
. This paper reports an experiment testing the efficiency of two costly communication devices introduced by Hermalin (1998 …
Persistent link: https://www.econbiz.de/10010750437
This paper presents an experiment performed to test the properties of an innovativebargaining mechanism (called …
Persistent link: https://www.econbiz.de/10010750512