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hypothetical choices among different consumption streams to infer intertemporal substitution elasticities and rates of time …
Persistent link: https://www.econbiz.de/10011092021
Abstract This paper selectively surveys some of the more prominent laboratory experimental studies on asset market behavior. The strands of literature considered are market microstructure, pari-mutuel betting markets, characteristics of participants, the effect of information release, and...
Persistent link: https://www.econbiz.de/10011090526
Results are reported of a laboratory experiment aimed at examining whether strategic substitutability and strategic complementarity have an impact on the tendency to cooperate in two-player dominancesolvable games with a Pareto-inefficient Nash equilibrium.We find that there is significantly...
Persistent link: https://www.econbiz.de/10011092089
We use experiments to compare two institutions for allocating the proceeds of team production.Under revenue …
Persistent link: https://www.econbiz.de/10011092321
Persistent link: https://www.econbiz.de/10011090836
We shed light on the Hartwick rule for capital accumulation and resource depletion by providing semantic clarifications and investigating the implications and relevance of this rule.We extend earlier results by establishing that the Hartwick rule does not indicate sustainability and does not...
Persistent link: https://www.econbiz.de/10011091546
present and discuss a set of experiments designed to test the effect of different monetary compensations on performance. In … our experiments we find that whenever money is offered, a larger amount yields a higher performance. It is not true … different set of experiments we test subjects who, acting as principals, have to provide the appropriate incentive to agents. We …
Persistent link: https://www.econbiz.de/10011092590
. The institution that actually evolved in the experiments, however, was in between the two extreme cases. Subjects …
Persistent link: https://www.econbiz.de/10011090309
validate the three assumptions of MSB. The performance of MSB is examined through extensive Monte Carlo experiments that …
Persistent link: https://www.econbiz.de/10011090433
This article illustrates simulation optimization through an (s, S) inventory management system.In this system, the goal function to be minimized is the expected value of specific inventory costs.Moreover, specific constraints must be satisfied for some random simulation responses, namely the...
Persistent link: https://www.econbiz.de/10011090482