We examine strategic interactions between firms and planners in China, comparing behavior between: (i) students and magagers with field experience with this situation, (ii) standard versus increased monetary incentives, and (iii) sessions conducted ""in context"" making explicit reference to...

Experienced construction industry executives suffer from a winner's curse in laboratory common- value auction markets. (Dyer et al. 1989). This paper identifies essential differences between field environments and the economic theory underlying the laboratory markets that account for the...