Conventional wisdom tells us that with no market failure and local non-satiation of preferences, the core is at least as large as the collection of competitive equilibrium allocations.We con.rm this for a standard model featuring land.Next we consider the public land ownership version of the...

In different treatments of an intergenerational common resource experiment, monetary payoff maximization by each generation causes either negative or positive externalities for future generations.Two behavioral types have been observed previously in single generation games: equity motivated...

We study an experimental market in which the structure of the information flows is endogenized. When making an offer, traders choose not only the price at which they are prepared to trade, but also the subset of traders they want to inform about the offer. This design allows for two extreme...

Abstract: Factor screening searches for the really important inputs (factors) among the many inputs that are changed in a realistic simulation experiment. Sequential bifurcation (SB) is a sequential method that changes groups of inputs simultaneously. SB is the most efficient and effective...