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Employment duration and resistance to wage reductions : experimental evidence

Burda, Michael C.; Güth, Werner; Kirchsteiger, Georg; … - 1998 - Rev.

One of the long-standing puzzles in economics is why wages do not fall sufficiently in recessions so as to avoid increases in unemployment. Put differently, if the competitive market wage declines, why don’t employers simply force their employees to accept lower wages as well? As an...

Persistent link: https://www.econbiz.de/10009578579

The East End, the West End, and King’s Cross : on clustering in the four-player hotelling game

Huck, Steffen; Müller, Wieland; Vriend, Nicolaas J. - 2000

This article investigates whether decision makers intuitively optimize close to the normative prediction in entrepreneurial decision situations where their time must be allocated between a wage job and a newly formed venture. We offer an analytical model based on maximizing expected utility, and...

Persistent link: https://www.econbiz.de/10009583426

Experimental "beauty contests" with homogeneous and heterogeneous players and with interior and boundary equilibria

Güth, Werner; Kocher, Martin; Sutter, Matthias - 2001

We study behavior in experimental beauty contests with, first, boundary and interior equilibria, and, second, homogeneous and heterogenous types of players. We find quicker and better convergence to the game-theoretic equilibrium with interior equilibria and homogeneous players. -- beauty...

Persistent link: https://www.econbiz.de/10009614296

Co-evolution of preferences and information in simple games of trust

Güth, Werner; Kliemt, Hartmut; Peleg, Bezalel - 1998

influences rational decision making. An indirect evolutionary analysis of an elementary yet important basic game of trust shows … mixed rest point. However, as opposed to previous studies of preference formation in the game of trust there is no … strategically. -- Evolutionary game models ; Endogenous preference formation ; Trust relationships …

Persistent link: https://www.econbiz.de/10009578580

Durable-Goods monopoly with privately known impatience : a theoretical and experimental study

Güth, W. (contributor); Kröger, Sabine (contributor); … - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001919409

On representative trust

Bellemare, Charles (contributor); … - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001919480

Bidder preferences among auction institutions

Ivanova-Stenzel, Radosveta; Salmon, Tim - 2002

This study examines bidder preferences between alternative auction institutions. In particular we seek to experimentally characterize the degree to which bidders prefer an ascending auction over a sealed bid auction. We find very strong ceteris paribus preferences for the ascending institution...

Persistent link: https://www.econbiz.de/10009627275

Comparative study of one-bid versus two-bid auctions

Ivanova-Stenzel, Radosveta; Sonsino, Doron - 2001

We compare the standard one-bid first price auction to a corresponding two-bid first price auction where each buyer may place two bids: a high bid and a low one and the winner pays his low bid if this was higher than all other bids. We characterize the equilibria of the two mechanisms and prove...

Persistent link: https://www.econbiz.de/10009615428

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

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

We examine learning behavior in auctions and Fair division games with independent private values under two different price rules, first and second price. Participants face these four games repeatedly and submit complete bid functions rather than single bids. This allows us to examine whether...

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

The false consensus effect disappears if representative information and monetary incentives are given

Engelmann, Dirk; Strobel, Martin - 1999

In this paper we present an experiment on the false consensus effect. Unlike previous experiments, we provide monetary incentives for revealing the actual estimation of others' behavior. In each session and round sixteen subjects make a choice between two options simultaneously. Then they...

Persistent link: https://www.econbiz.de/10009581106