A recently much debated issue is why observed investment and growth rates inpoor countries are lower than traditional … investment rates is notmonotonic but follows a hump-shaped pattern. The empirical evidence shows thatalthough very poor economies … have very low investment rates there are'intermediately' developed economies that exhibit extremely high investmentrates …

piece-rate scheme, individuals in a winner-takes-all competition are significantly less cooperative in the public goods game …. A lottery treatment, where the winner is decided by luck, has the same effect. In a competition treatment with feedback …

how communication mitigates this free-riding problem in an investment-timing game. In our baseline investment-timing game … investor of the group bears the costs of investment while everyone in the group benefits if the project reveals high returns … communicate before choosing the investment time. We find that in groups of two players, communication increases cooperation and …

roughly the same manner as rational bidders, with observed efficiencies close to predicted levels. Increased competition and …

-binding price requests. Using a laboratory experiment, we examine how competition moderates the way such cheap-talk communication … competition, although some of them become weaker. Our main findings are the following: (i) The ability of sellers to make non … bargaining and in competition; (ii) Competition reduces the informativeness of the price requests and weakens the anchoring …