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In business and politics, gifts are often aimed at influencing the recipient at the expense of third parties. In an … experimental study, which removes informational and incentive confounds, subjects strongly respond to small gifts even though they … and sociological theories about gifts creating an obligation to reciprocate. We capture these effects in a simple …
Persistent link: https://www.econbiz.de/10011590892
We conduct a field experiment where we vary both the presence of a gift-exchange wage and the effect of the worker …
Persistent link: https://www.econbiz.de/10012064798
assumption that humans can assess the quality of algorithms. We test this assumption by conducting an online experiment with 1263 …
Persistent link: https://www.econbiz.de/10013499021
This paper analyzes the optimal contract for a consumer to procure a credence good from an expert when (i) the expert might misrepresent his private information about the consumer’s need, (ii) the expert might not choose the requested service since his choice of treatment is non-observable,...
Persistent link: https://www.econbiz.de/10011781931
In a laboratory experiment designed to capture key aspects of the interaction between physicians and patients, we study …
Persistent link: https://www.econbiz.de/10011490343
In a laboratory experiment designed to capture key aspects of the interaction between physicians and patients in a …
Persistent link: https://www.econbiz.de/10010413597
We study contracting between a consumer and an expert. The expert can invest in diagnosis to obtain a noisy signal about whether a low-cost service is sufficient or whether a high-cost treatment is required to solve the consumerś problem. This involves moral hazard because diagnosis effort and...
Persistent link: https://www.econbiz.de/10010429934
Interactions between players with private information and opposed interests are often prone to bad advice and inefficient outcomes, e.g. markets for financial or health care services. In a deception game we investigate experimentally which factors could improve advice quality. Besides advisor...
Persistent link: https://www.econbiz.de/10011697162
In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature almost exclusively looks at buyers in such combined mechanisms, the current paper summarizes results from the sellers' point of view. Buy-It-Now auctions are complex mechanisms...
Persistent link: https://www.econbiz.de/10014477420
second half of the paper tests the theoretical predictions in an experiment. In contrast to previous literature, the …
Persistent link: https://www.econbiz.de/10012500269