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Brandts, Jordi; Riedl, Arno; Winden, Frans van - Tinbergen Institute - 2004

We study the effects of competition in a context in which people's actions can not be contractually fixed. We find that … in such an environment the very presence of competition does neither increase efficiency nor does it yield any payoff … gains for the short side of the market. We also find that competition has a strong negative impact on social well-being, the …

Persistent link: https://www.econbiz.de/10005136861

Dividing justly in Bargaining Problems with Claims

Gächter, Simon; Riedl, Arno - Tinbergen Institute - 2004

Theoretical research on claims problems has concentrated on normative properties and axiomatizations of solution concepts. We complement these analyses by empirical evidence on the predictability of three classical solution concepts in a bankruptcy problem. We examine both people's impartial...

Persistent link: https://www.econbiz.de/10005137047

Reciprocity and Emotions when Reciprocators know each other

Reuben, Ernesto; Winden, Frans van - Tinbergen Institute - 2004

This is an experimental study of a three-player power-to-take game where a take authority is matched with two responders. The game consists of two stages. In the first stage, the take authority decides how much of the endowment of each responder that is left after the second stage will be...

Persistent link: https://www.econbiz.de/10005144451

Cooperation in an Overlapping Generations Experiment

Offerman, Theo; Potters, Jan; Verbon, Harry A.A. - Tinbergen Institute - 1999

Recent theoretical work shows that folk theorems can be developed for infinite overlapping generations games. Cooperation in such games can be sustained as a Nash equilibrium. Besides the efficient cooperative equilibrium there is also the inefficient non-cooperative equilibrium. This paper...

Persistent link: https://www.econbiz.de/10005144485

Complex Evolutionary Systems in Behavioral Finance

Hommes, Cars; Wagener, Florian - Tinbergen Institute - 2008

Traditional finance is built on the rationality paradigm. This chapter discusses simple models from an alternative approach in which financial markets are viewed as complex evolutionary systems. Agents are boundedly rational and base their investment decisions upon market forecasting heuristics....

Persistent link: https://www.econbiz.de/10005795577

Tax Liability Side Equivalence in Gift-Exchange Labor Markets

Riedl, Arno; Tyran, Jean-Robert - Tinbergen Institute - 2003

Tax Liability Side Equivalence (tax LSE) claims that the statutory incidence of a tax is irrelevant for its economic incidence. In gift-exchange labor markets, firms provide a gift to workers by paying high wages, and workers reciprocate by providing high efforts. Tax LSE is theoretically...

Persistent link: https://www.econbiz.de/10005795580

Social Comparison and Risky Choices

Linde, Jona; Sonnemans, Joep - Tinbergen Institute - 2009

This study attempts to combine two traditional fields in microeconomics: individual decision making under risk and decision making in an interpersonal context. The influence of social comparison on risky choices is explored in an experiment in which participants make a series of choices between...

Persistent link: https://www.econbiz.de/10008513239

Going Once, Going Twice, Reported! Cartel Activity And The Effectiveness Of Leniency Programs in Experimental Auctions

Hinloopen, Jeroen; Onderstal, Sander - Tinbergen Institute - 2009

We experimentally examine the effectiveness of a leniency program against bidding rings in two commonly used auctions: the English auction (EN) and the first-price sealed-bid auction (FPSB). Our results show that the leniency program does not affect the average winning bid, nor the average...

Persistent link: https://www.econbiz.de/10008531423

The Impact of Female Sex Hormones on Competitiveness

Buser, Thomas - Tinbergen Institute - 2009

We use fluctuations of female sex hormones occurring naturally over the menstrual cycle or induced by hormonal contraceptives to determine the importance of sex hormones in explaining gender differences in competitiveness. Participants in a laboratory experiment solve a simple arithmetics task...

Persistent link: https://www.econbiz.de/10008531431

From Overt to Tacit Collusion

Hinloopen, Jeroen; Soetevent, Adriaan - Tinbergen Institute - 2008

Recent laboratory experiments support the popular view that the introduction of corporate leniency programs has significantly decreased cartel activity. The design of these repeated game experiments however is such that engaging in illegal price discussions is the only way for subjects to avoid...

Persistent link: https://www.econbiz.de/10005136891