We explore experimentally whether the free-rider problem occurs in corporate takeovers. While Grossman and Hart's (1980) classical proposition states that due to the free-rider problem takeovers never succeed, we observe a considerable number of successful takeovers in real capital markets. To...

Economic theory predicts that it is impossible to have cooperation in finitely repeated games such as a prisoner's dilemma game without communication. In an experiment on a voluntary participation game with a non-excludable public good that is a version of a Hawk-Dove game, we obderved that...

The EU proposal on the quantity restraint of the emissions trading in the Kyoto Protocol aims at reducing the so called hot air that would be generated by the purchase of emissions permits sold by a country whose actual emissions are much lower than the assigned amount. In this paper we show...

This paper presents data from experiments with a linear voluntary contributions mechanism for public goods conducted in Japan, the Netherlands, Spain and the USA. The same experimental design was used in the four countries.

This paper studies public good provision in the laboratory using voluntary contribution mechanism, in a cross-cultural experiment conducted in the United States and Japan.

This paper presents the result of experiments for finding some insight into an effect of the new bidding system in Japanese public construction works procurement on bidders' collusion, which is called 'dango'. We focused on an effect of the entry of an outsider who is not a dango member. The...

We conducted an experiment to examine the performance of the bilateral trading institution in GHG emissions trading. First, we found that the efficiency of bilateral trading is quite high, regardless of the disclosure or closure of contracted price and/or marginal abatement cost curve...

We re-evaluate two experiments by Hizen and Saijo (1999a,b) to examine the performance of bilateral trading and double auction institutiions in GHG emissions trading.

Groves-Ledyard (1977) constructed a mechanism attaining Pareto efficient allocations in the presence of public goods. After this path-breaking paper, many mechanisms have been proposed to attain desirable allocations with public goods. Thus, economists have thought that the free-rider problem is...