framework. We test the model's predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the … net effect on welfare. In the experiment, the net effect of insurance coverage on efficiency turns out to be positive. We …

We investigate a competitive labor market with team production. Workers differ in their motivation to exert team effort … weakly lower wages. -- Team work ; self-selection …

negotiations following the production. By means of a laboratory experiment, we systematically investigate their role for the whole …

's key predictions in a laboratory experiment. The model's predictions are largely borne out - transparency negatively … under secrecy. This occurs despite subjects revealing more information under transparency than theory predicts. …