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among a substantial share of the population into account. Theory shows and experiments confirm, that even if fairness … incompleteness and relational nature of most employment contracts and (ii) the existence of reference-dependent fairness concerns … concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and …
Persistent link: https://www.econbiz.de/10005762059
In this paper we conduct a laboratory experiment to test the extent to which Moore and Repullo's subgame perfect …
Persistent link: https://www.econbiz.de/10011265296
fishermen who exhibit a higher propensity for cooperation in a laboratory public goods experiment, and those who show more … patience in a laboratory time preference experiment, exploit the fishing grounds less in their daily lives. Moreover, because …
Persistent link: https://www.econbiz.de/10005822252
The assumption that payoff-relevant information is observable but not verifiable is important for many core results in contract, organizational and institutional economics. However, subgame-perfect implementation (SPI) mechanisms – which are based on off-equilibrium arbitration clauses that...
Persistent link: https://www.econbiz.de/10010891173
The prevailing labor market models assume that minimum wages do not affect the labor supply schedule. We challenge this view in this paper by showing experimentally that minimum wages have significant and lasting effects on subjects’ reservation wages. The temporary introduction of a minimum...
Persistent link: https://www.econbiz.de/10005762121
Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)’s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and ex post...
Persistent link: https://www.econbiz.de/10009371874
theories of fairness and reciprocity capture these forces. We find that cooperators’ punishment is almost exclusively targeted … between different fairness principles. Fairness theories that are based on the assumption that players compare their own … the defectors. Fairness theories assuming that players aim to minimize payoff inequalities cannot explain the fact that …
Persistent link: https://www.econbiz.de/10005703785
, inducing them to resist entering into employment contracts. This resistance to employment contracts vanishes if fairness …
Persistent link: https://www.econbiz.de/10010598089
We conducted a randomized field experiment to examine how workers respond to wage cuts, and whether their response …
Persistent link: https://www.econbiz.de/10008854765
Typically, laboratory experiments suffer from homogeneous subject pools and self-selection biases. The usefulness of … method integrating interactive experiments and representative surveys thereby overcoming crucial weaknesses of both … approaches. One of the major advantages of our approach is that it allows for the integration of experiments, which require …
Persistent link: https://www.econbiz.de/10005761956