behavior of juniors (under 30) and seniors (over 50) in both experiments conducted onsite with the employees of two large firms … external validity of conventional laboratory experiments. In general we do not find strong differences in behavior between … workers and non-workers, indicating that laboratory experiments may not be such a bad approximation for the field environment. …

matters). Our laboratory experiments indicate that workers’ effort choices are highly sensitive to their own wages, but … experiment were more likely to compress wages when wages became public information. Profits were not significantly reduced by a …

be derived from reaching a better relative position. We use a real-effort experiment in which we permit individuals to …

We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden …-information context. In our benchmark case, each principal is matched with one agent of unknown type. In our second treatment, a principal … probability of trade, and that, overall, competition between agents generates the most efficient outcomes. …

In this paper, we describe a series of laboratory experiments that implement specific examples of a more general …