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Cox, James C; Li, Danyang - In: Economics Bulletin 32 (2012) 4, pp. 2839-2848

In this paper, we report results derived from a laboratory experiment based on a modifed trust game. We introduced a … coin flip between decisions of trustors and trustees in the trust game. The realized outcome of the coin flip determines … the productivity of trust. By varying trustors' ability to observe the outcome of the coin flip, we allow the trustees to …

Persistent link: https://www.econbiz.de/10011278628

Efficiency in Bargaining Games with Alternating Offers

Sadiraj, Vjollca; Sun, Juan - In: Economics Bulletin 32 (2012) 3, pp. 2366-2374

Bargaining games model situations in which the realization of potential benefits is jeopardized by conflicting … bargaining powers. Most of the literature on bargaining behavior focuses on bargaining over gains. Exploration of behavior in … is whether the negative effect of competing bargaining powers on the efficiency of agreements is more severe in …

Persistent link: https://www.econbiz.de/10011278802

An experimental study of e-mail games with strategic information transmission and communication cost

Kawagoe, Toshiji; Takizawa, Hirokazu - In: Economics Bulletin 32 (2012) 4, pp. 2921-2929

We experimentally examined several versions of Rubinstein (1989)'s e-mail game in the laboratory. He shows that, in the unique equilibrium of this game, players behave as if no information is exchanged, no matter how many messages are successfully sent. This has been regarded as a "paradox of...

Persistent link: https://www.econbiz.de/10011278536

The Power of an Outside Option that Generates a Focal Point: An Experimental Investigation

Shahriar, Quazi - In: Economics Bulletin 31 (2011) 3, pp. 2151-2158

Existing experimental studies (Cooper, DeJong, Forsythe and Ross, 1993; Shahriar, 2009) have shown that an outside option, when offered to one of the two players who later participate in a battle-of-the-sexes game, makes the equilibrium that favors the same player focal. This focal point arises even...

Persistent link: https://www.econbiz.de/10011278681

Coordination failure caused by sunspots

Beugnot, Julie; Gürgüç, Zeynep; Øvlisen, Frederik Roose - In: Economics Bulletin 32 (2012) 4, pp. 2860-2869

In a coordination game with Pareto-ranked equilibria, we study whether a sunspot can lead to either coordination on an inferior equilibrium (mis-coordination) or to out-of equilibrium behavior (dis-coordination). While much of the literature searches for mechanisms to attain coordination on the...

Persistent link: https://www.econbiz.de/10011278878

Comparing Guessing Games with homogeneous and heterogeneous players: Experimental results and a CH explanation

Kovac, Eugen; Vojtek, Martin; Ortmann, Andreas - In: Economics Bulletin 3 (2008) 9, pp. 1-9

We investigate the decisions of individuals in simple and complex environments. We use a version of the Guessing Game (Beauty-contest Game) as a vehicle for our investigation, employing mathematically talented students. We find that our subjects think in complex environments more carefully...

Persistent link: https://www.econbiz.de/10010835751

An Experiment on Waiting Time and Punishing Behavior

Galeotti, Fabio - In: Economics Bulletin 33 (2013) 2, pp. 1383-1389

We investigate the implications of waiting time on the decision to punish in a power-to-take experiment. We find that (a) waiting reduces the overall probability of destroying and (b) responders destroy more often in response to higher take rates when the waiting time is longer.

Persistent link: https://www.econbiz.de/10010835937

Drift and equilibrium selection with human and computer players

Ricciuti, Roberto; Innocenti, Alessandro; Caminati, Mauro - In: Economics Bulletin 3 (2008) 19, pp. 1-7

The theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second-order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and...

Persistent link: https://www.econbiz.de/10010835981

The Uncontrolled Social Utility Hypothesis Revisited

Schmidt, Carsten; Ro'i Zultan - In: Economics Bulletin 3 (2005) 33, pp. 1-7

previous interpretation of communication effects in ultimatum bargaining, and suggest that separate processes, both of a …

Persistent link: https://www.econbiz.de/10010836065

The beauty of the contest: A novel approach to experimental beauty contests.

Lanteri, Alessandro; Novarese, Marco - In: Economics Bulletin 3 (2008) 52, pp. 1-10

We introduce a novel beauty contest experiment to study the gap between individual preferences and beliefs about collective preferences of physical attractiveness. In the first round, participants vote their 3 favorite ladies in the second round they vote the 3 ladies they believe were the most...

Persistent link: https://www.econbiz.de/10005110644

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