Gender equity in the creation and enforcement of social norms is important not only as a normative principle but it can also support long term economic growth. Yet in most societies, coercive power is in the hands of men. We investigate whether this form of segregation is due to inherent gender...

This paper reports an experimental test of international quota trading on a market characterised by several dominant traders. Asymmetric information regarding quota demand and supply imply true market-clearing prices which differ from an expected competitive quota price. However, in the...

This paper reports on the empirical properties of the bid auction (buyers propose prices), offer auction (sellers suggest prices) and double auction (both buyers and seller initiate price quotes). These trading institutions are stress-tested using a nonstationary monopolistic market environment...

The Duhem-Quine thesis asserts that any empirical evaluation of a theory is in fact a composite test of several interconnected hypotheses. Recalcitrant evidence signals falsity within the conjunction of hypotheses, but logic alone cannot pinpoint the individual element(s) inside the theoretical...

This paper reports on price formation in experimental markets in which a single seller trades with four buyers. Transactions occur if either a buyer accepts an offer to sell from the seller, or the seller accepts an offer to buy from a buyer. The dissemination of such offers is endogenous in...

Truthful reporting about the realization of a publicly observed event cannot be guaranteed by a consensus process. This fact, which we establish theoretically and verify empirically, holds true even if some individuals are compelled to tell the truth, regardless of economic incentives. We...

We investigated attitudes toward positionality among rural farmers in northern Ethiopia, using a tailored two-part survey experiment. On average, we found positional concerns neither in income per se, nor in income from aid projects among the farmers. These results support the claim that...

This paper describes an individual choice experiment that can be used to teach students how to correctly account for opportunity costs in production decisions. Students play the role of producers who require a fuel input and an emissions permit for production. Given fixed market prices, they...

This paper analyses the general equilibrium relationship between increases in tax financed public employment and total employment, emphasizing one income effect: Reallocating employment from the private to the public sector reduces non-labour income in the form of profits distributed to workers,...

In a recent article Bas Jacobs found that the marginal cost of public funds (MCF) is one when taxation gives second best resource allocation. This conclusion is based on a claim that there are certain shortcomings with the standard definition of MCF, for example that the size and sign of the...