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Collective Intertemporal Decisions and Heterogeneity in Groups
Glätzle-Rützle, Daniela; Lergetporer, Philipp; … - 2021
Many important intertemporal decisions are made by groups rather than individuals. What happens to collective decisions when there is internal conflict about the tradeoff between present and future has not been thoroughly investigated so far. We study experimentally the causal effect of group...
Persistent link: https://www.econbiz.de/10013251532
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Produce or Speculate? Asset Bubbles, Occupational Choice and Efficiency
Cahuc, Pierre - 2009
We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading … are large, the private gains associated with trading asset bubbles may lead too many workers to become speculators …, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …
Persistent link: https://www.econbiz.de/10013153172
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Mind, Body, Bubble! Psychological and Biophysical Dimensions of Behavior in Experimental Asset Markets
Butler, David - 2018
Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to …
Persistent link: https://www.econbiz.de/10012917090
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Negative Externalities and Equilibrium Existence in Competitive Markets with Adverse Selection
von Siemens, Ferdinand - 2009
Rothschild and Stiglitz (1976) show that there need not exist a competitive equilibrium in markets with adverse selection. Building on their framework we demonstrate that externalities between agents - an agent's utility upon accepting a contract depends on the average type attracted by the...
Persistent link: https://www.econbiz.de/10012763924
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The Economics of Credence Goods : On the Role of Liability, Verifiability, Reputation and Competition
Dulleck, Uwe - 2009
determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields …
Persistent link: https://www.econbiz.de/10012764487
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The Role of Bounded Rationality and Imperfect Information in Subgame Perfect Implementation : An Empirical Investigation
Aghion, Philippe - 2015
mechanism should – in theory – provide incentives for truth-telling, many buyers in fact believe that they can increase their …
Persistent link: https://www.econbiz.de/10013023778
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Competition, Cooperation, and Corporate Culture
Kosfeld, Michael; von Siemens, Ferdinand - 2021
Teamwork and cooperation between workers can be of substantial value to a firm, yet the level of worker cooperation often varies between individual firms. We show that these differences can be the result of labor market competition if workers have heterogeneous preferences and preferences are...
Persistent link: https://www.econbiz.de/10013316936
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Reputation vs Selection Effects in Markets with Informational Asymmetries
Alysandratos, Theodore; Georganas, Sotiris; Sutter, Matthias - 2022
In markets with asymmetric information between sellers and buyers, feedback mechanisms are important to increase market efficiency and reduce the informational disadvantage of buyers. Feedback mechanisms might work because of self-selection of more trustworthy sellers into markets with such...
Persistent link: https://www.econbiz.de/10014242288
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Two Heads are Less Bubbly than One : Team Decision-Making in an Experimental Asset Market
Cheung, Stephen L. - 2009
We study the effect of team decision-making on bubbles and crashes in experimental asset markets of the kind introduced …
Persistent link: https://www.econbiz.de/10013155154
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Redistributive Politics and Market Efficiency : An Experimental Study
Großer, Jens - 2011
We study the interaction between competitive markets that produce large but unequally distributed welfare gains and elections through which the poor majority can redistribute income away from the rich minority. In our simple laboratory democracy, subjects first earn their income by trading in a...
Persistent link: https://www.econbiz.de/10013134222