contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits …, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is … only rarely chosen in the experimental markets. This behavior is rational given that managers do not play according to the …

reputation formation, this game is played repeatedly. Learning can be analysed since participants play successively several … which allows testing the qualitative and quantitative aspects of reputation equilibria also at an individual level. …

In this experimental study of tax evasion and its determinants participants earn their income in a complex stochastic … intertemporal environment including the possibility to invest into a risky asset. The earned income has to be declared in four tax … donated to charity organizations. Our main results show that higher income induces tax fraud and that gender differences exist. …

performance elasticities are contrary to predictions of agency theory. Both results provide further support to the common belief … that compensation contracts in public corporations seem imperfectly tied to firm performance and managers' tasks. …

according to which banks are not used at all. By applying the theory of equilibrium selection it is analysed which of the two …