Showing 1 - 5 of 5
Markets, auction mechanisms and political institutions all affect outcomes. For students of collective choice, minimal decision making institutions provide a baseline by which we expect outcomes that best can be characterized as chaotic. Such outcomes are rarely predictable and the processes by...
Persistent link: https://www.econbiz.de/10014023554
This chapter discusses that experiments demonstrate the extent to which outcomes are responsive to the structure of preferences. Where a preference-induced equilibrium exists, outcomes converge toward that equilibrium. Where a natural majority coalition exists, outcomes cluster around it. Where...
Persistent link: https://www.econbiz.de/10014023555
Coordination problems are easily solved when there are clear and unambiguous signals. Institutional mechanisms that enhance the clarity of signals enables even cheap talk to work as a coordinating mechanism. On the other hand, learning about signals, especially if there is path-dependent noise...
Persistent link: https://www.econbiz.de/10014023595
This chapter reviews the results from experimental measures of risk aversion for evidence of systematic differences in the behavior of men and women. In most studies, women are found to be more averse to risk than men. Studies with contextual frames show less consistent results. Whether men and...
Persistent link: https://www.econbiz.de/10014023534
This chapter reviews the results from public goods, ultimatum, and dictator experiments for evidence of systematic differences in the behavior of men and women. While the results do not offer consistent evidence of behavioral differences between men and women, there are some intriguing patterns...
Persistent link: https://www.econbiz.de/10014023590