If payoffs are tickets for binary lotteries, which involve only two money prizes, then rationality requires expected value maximization in tickets. This payoff scheme was increasingly used to induce risk neutrality in experiments. The experiment presented here involved lottery choice and...

This paper reports on RatDemo, an example program for the application of RatImage, the Research Assistance Toolbox for computerized human behavior experiments. The complete source code of this short experiment program is listed and briefly discussed. Since RatDemo combines several central...

This paper reports on RatImage, version 3.30. The extended features are presented. RatImage 3.30 is fully downward compatible to the first published version of the Research Assistance Toolbox for Computer-Aided Human Behaivor experiments, RatImage 3.10. This paper is an addendum to the manula of...

Two players bargain over the allocation of a sum of money. They are only incompletely informed about the opponent's alternative in case of conflict. The paper investigates two different experimental approaches: the spontaneous behavior of subjects in a game playing experiment and the strategies...

On the basis of experimental evidence reported in the literature the paper draws conclusions about the bounded rationality exhibited by human economic behaviour. Among the topics discussed are presentation effects caused by superficial analysis, strategic reasoning and strategy construction...

Opinion is divided on whether it is better to have a single world   money or variable exchange rates.  Pope, Selten and von Hagen (2003)   propose that fresh light would be shed via an analysis that allows   for seven complexity impacts on the exchange rate that are   underplayed...

On the basis of problems related to asymmetric information, self-governance has been proposed and often empirically found to be superior to the external imposition of rules in social dilemma situations. The present paper suggests and experimentally analyses a different line of argument, namely...

Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...

In spring 2000, the British government auctioned off licences for Third Generation mobile telecommunications services. In the preparation of the auction, two designs involving each a hybrid of an English and a sealed-bid auction were suggested by the government: a discriminatory and a uniform...