We study social preferences in a three-person ultimatum game experiment with one proposer and two responders.Any responder can unilaterally punish the proposer.In three treatments, we vary the pecuniary consequences of rejection in such a way that upon rejection of one responder the other...

Networks can have an important effect on economic outcomes. Given the complexity of many of these networks, agents will generally not know their structure. We study the sensitivity of game-theoretic predictions to the specification of players’ (common) prior on the network in a setting where...

Networks can have an important effect on economic outcomes. Given the complexity of many of these networks, agents will generally not know their structure. We study the sensitivity of game-theoretical predictions to the specification of players’ (common) prior on the network in a setting where...

In many contexts, players interact only with a subset of the whole population, i.e., players interact on a network. This paper a setting in which players are located on a network and play a fixed game with their neighbors. Players have incomplete information on the network structure. They have a...

We combine data from a risk preference elicitation experiment conducted on a representative sample via the Internet with laboratory data on student subjects for the same experiment in order to investigate effects of implementation mode and of subject pool selection. We find that the frequency of...

We establish several stylized facts about the behavior of individual uncertainty and disagreement between individuals when forecasting inflation in the laboratory. Subjects correctly perceive the underlying inflation uncertainty in only 60% of cases, which can be interpreted as the...

Using laboratory experiments within a New Keynesian macro framework, we explore the formation of inflation expectations and its interaction with monetary policy design. The central question in this paper is how to design monetary policy in the environment characterized by heterogeneous...

Abstract: This paper compares the behavior of subjects' uncertainty in different monetary policy environments when forecasting inflation in the laboratory. We find that inflation targeting produces lower uncertainty and higher accuracy of interval forecasts than inflation forecast targeting. We...

In the past China's rural areas, home to 70% of its population, suffered energy shortages.China's indigenous energy resources are limited, with the exception of coal.The widespread use of coal requires large investments in production and transport -making it costly-, and degrades the...

We present the results of a survey-experiment using a representative sample of the Dutch population in which we relate respondents' opinion about the tax deductibility of mortgages to their estimates about other people's opinion.The experiment employs three treatment variables: monetary...