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Multicandidate Elections: Aggregate Uncertainty in the Laboratory

Bouton, Laurent; Castanheira, Micael; Llorente-Saguer, Aniol - C.E.P.R. Discussion Papers - 2015

The rational-voter model is often criticized on the grounds that two of its central predictions (the paradox of voting and Duverger's law) are at odds with reality. Recent theoretical advances suggest that these empirically unsound predictions might be an artifact of an assumption in those...

Persistent link: https://www.econbiz.de/10011196037

Cardiovascular Consequences of Unfair Pay

Falk, Armin; Menrath, Ingo; Siegrist, Johannes; Verde, … - C.E.P.R. Discussion Papers - 2011

This paper investigates physiological responses to perceptions of unfair pay. In a simple principal agent experiment agents produce revenue by working on a tedious task. Principals decide how this revenue is allocated between themselves and their agents. In this environment unfairness can arise...

Persistent link: https://www.econbiz.de/10009144731

Preferences for Consistency

Falk, Armin; Zimmermann, Florian - C.E.P.R. Discussion Papers - 2011

strength. We then present three experiments that study main predictions and implications of the model. The first is a simple …

Persistent link: https://www.econbiz.de/10009293989

Did We Overestimate the Role of Social Preferences? The Case of Self-Selected Student Samples

Falk, Armin; Meier, Stephan; Zehnder, Christian - C.E.P.R. Discussion Papers - 2010

phenomena. However, the empirical foundation of social preferences is largely based on laboratory experiments with self …-selected students as participants. This is potentially problematic as students participating in experiments may behave systematically … experiments with student samples misrepresent the importance of social preferences. Our first study shows that students who …

Persistent link: https://www.econbiz.de/10008642878

Recreating the South Sea Bubble: Lessons from an Experiment in Financial History

Giusti, Giovanni; Noussair, Charles; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2013

Major bubble episodes are rare events. In this paper, we examine what factors might cause some asset price bubbles to become very large. We recreate, in a laboratory setting, some of the specific institutional features investors in the South Sea Company faced in 1720. Several factors have been...

Persistent link: https://www.econbiz.de/10011083988

Vote Trading With and Without Party Leaders

Casella, Alessandra; Palfrey, Thomas R; Turban, Sébastien - C.E.P.R. Discussion Papers - 2012

Two groups of voters of known sizes disagree over a single binary decision to be taken by simple majority. Individuals have different, privately observed intensities of preferences and before voting can buy or sell votes among themselves for money. We study the implication of such trading for...

Persistent link: https://www.econbiz.de/10011084134

Hey Look at Me: The Effect of Giving Circles on Giving

Karlan, Dean S.; McConnell, Margaret - C.E.P.R. Discussion Papers - 2012

Theories abound for why individuals give to charity. We conduct a field experiment with donors to a Yale University service club to test the impact of a promise of public recognition on giving. Some may claim that they respond to an offer of public recognition not to improve their social...

Persistent link: https://www.econbiz.de/10011084285

Divided Majority and Information Aggregation: Theory and Experiment

Bouton, Laurent; Castanheira, Micael; Llorente-Saguer, Aniol - C.E.P.R. Discussion Papers - 2012

This paper both theoretically and experimentally studies the properties of plurality and approval voting when the majority is divided as a result of information imperfections. The minority backs a third alternative, which the majority views as strictly inferior. The majority thus faces two...

Persistent link: https://www.econbiz.de/10011083533

Knowing What Works. The Case for Rigorous Programme Evaluation

Schmidt, Christoph M - C.E.P.R. Discussion Papers - 2001

problem. It introduces several approaches, based on both experiments and on non-experimental data that have been proposed in …

Persistent link: https://www.econbiz.de/10005788972

Experimental Evidence on the Persistence of Output and Inflation

Adam, Klaus - C.E.P.R. Discussion Papers - 2005

This paper presents experimental evidence from a monetary sticky price economy in which output and inflation depend on expected future inflation. With rational inflation expectations, the economy does not generate persistent deviations of output and inflation in response to a monetary shock. In...

Persistent link: https://www.econbiz.de/10005791429