Showing 1 - 10 of 173
There is robust experimental evidence that in the ultimatum game real players often prefer a fair allocation which seems to be in contrast to rational decision making. In this paper rational maximizing behavior as well as norm-guided fair behavior are two possible behavioral rules. It is argued...
Persistent link: https://www.econbiz.de/10005786074
Different evaluators typically disagree how to rank different candidates since they care more or less for the various qualities of the candidates. It is assumed that all evaluators submit vector bids assigning a monetary bid for each possible rank order. The rules must specify for all possible...
Persistent link: https://www.econbiz.de/10008914823
Although one may hope to achieve equality of stated profits without enforcing it, one may not trust in such voluntary equality seeking and rather try to impose rules (of bidding) guaranteeing it. Our axiomatic approach is based on envy-free net trades according to bids which, together with the...
Persistent link: https://www.econbiz.de/10008487470
In a market with stochastic demand at most one seller can acquire costly information about demand. Other sellers entertain idiosyncratic beliefs about the market demand and the probability that an informed seller is trading in the market. These idiosyncratic beliefs co-evolve with the potential...
Persistent link: https://www.econbiz.de/10005090529
Does geographic or (perceived) social distance between subjects signi?cantly affect proposer and responder behavior in ultimatum bargaining? To answer this question, subjects once play an ultimatum game with three players (proposer, responder, and dummy player) and asymmetric information (only...
Persistent link: https://www.econbiz.de/10005090551
We study ultimatum and dictator experiments where the first mover chooses the amount of money to be distributed between the players within a given interval, knowing that her own share is fixed. Thus, the first mover is faced with scarcity, but not with the typical trade-off between her own and...
Persistent link: https://www.econbiz.de/10008506719
We assess the empirical validity of the overall theoretical framework of other-regarding preferences by focusing on those preference axioms that are common to all the prominent theories of outcome-based other-regarding preferences. This common set of preference axioms leads to a testable...
Persistent link: https://www.econbiz.de/10009321194
The existing literature acknowledges that a mismatch between the experimenter's and the subjects' models of an experimental task can adversely affect the interpretation of data from laboratory experiments. We discuss why the two common experimental designs (between-subjects and within-subjects)...
Persistent link: https://www.econbiz.de/10008764093
Bounded rationality questions backward induction, which however, does not exclude such reasoning when anticipation is easy. In our stochastic (alternating offer) bargaining experiment, there is a certain first-period pie and a known finite deadline. What is uncertain (except for the final...
Persistent link: https://www.econbiz.de/10010884454
In a two-person ï¬nitely repeated public goods experiment, we use intentions data to interpret individual behavior. Based on a random-utility model speciï¬cation, we develop a relationship between a player's beliefs about others' behavior and his contributions' plans, and use this...
Persistent link: https://www.econbiz.de/10005090581