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Conrads, Julian; Irlenbusch, Bernd - 2011

In his classic article An Essay on Bargaining Schelling (1956) argues that ignorance might actually be strength rather than weakness. We test and confirm Schelling's conjecture in a simple take-it-or-leave bargaining experiment where the proposer can choose between two possible offers. Option A...

Persistent link: https://www.econbiz.de/10010282588

Strategic Ignorance in Bargaining

Conrads, Julian; Irlenbusch, Bernd - Institute for the Study of Labor (IZA) - 2011

In his classic article "An Essay on Bargaining" Schelling (1956) argues that ignorance might actually be strength rather than weakness. We test and confirm Schelling's conjecture in a simple take-it-or-leave bargaining experiment where the proposer can choose between two possible offers. Option...

Persistent link: https://www.econbiz.de/10009371183

Multiple Equilibria and Minimum Wages in Labor Markets with Informational Frictions and Heterogeneous Production Technologies

van den Berg, Gerard J. - 2003

It is often argued that a mandatory minimum wage is binding only if the wage density displays a spike at it. In this paper we analyze a model with search frictions and heterogeneous production technologies, in which imposition of a minimum wage affects wages even though, after imposition, the...

Persistent link: https://www.econbiz.de/10010261543

Guilt from promise-breaking and trust in markets for expert services: Theory and experiment

Beck, Adrian; Kerschbamer, Rudolf; Qiu, Jianying; … - 2010

We examine the influence of guilt and trust on the performance of credence goods markets. An expert can make a promise to a consumer first, whereupon the consumer can express her trust by paying an interaction price before the expert's provision and charging decisions. We argue that the expert's...

Persistent link: https://www.econbiz.de/10010269892

The economics of credence goods: on the role of liability, verifiability, reputation and competition

Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009

determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields …

Persistent link: https://www.econbiz.de/10010271236

Cognitive Ability and Paternalism

Saint-Paul, Gilles - 2002

This paper analyses the welfare effects of price restrictions on private contracting in a world where agents have a limited cognitive ability. People compute the costs and benefits of entering a transaction with an error. The government knows the distribution of true costs and benefits as well...

Persistent link: https://www.econbiz.de/10010262616

On the Prudence of Rewarding A While Hoping for B

Schnedler, Wendelin - 2003

In multiple-task hidden-action models, the (mis-)allocation of effort may play an important role for benefit creation. Signals which capture this benefit and which are used in incentive schemes should thus not only be judged by the noise and the associated costs but also by the mis-allocation...

Persistent link: https://www.econbiz.de/10010262723

Task difficulty, performance measure characteristics, and the trade-off between insurance and well-allocated effort

Schnedler, Wendelin - 2006

When designing incentives for a manager, the trade-off between insurance and a good allocation of effort across various tasks is often identified with a trade-off between the responsiveness (sensitivity, precision, signal-noise ratio) of the performance measure and its similarity (congruity,...

Persistent link: https://www.econbiz.de/10010268002

Negotiating Cooperation under Uncertainty: Communication in Noisy, Indefinitely Repeated Interactions

Dvorak, Fabian; Fehrler, Sebastian - 2018

Case studies of cartels and recent theory suggest that repeated communication is key for stable cooperation in …

Persistent link: https://www.econbiz.de/10011931862

Toward the integration of personality theory and decision theory in the explanation of economic and health behavior

Rustichini, Aldo; DeYoung, Colin G.; Anderson, Jon; … - 2012

emphasizing variables derived from formal decision theory. In a data set on trainee truckers in a large US company, we provide a … comparing the predictive power of measurements derived from personality theory and decision theory for several individual …. Further, decision theory and personality variables are meaningfully related. For example, we confirm that cognitive ability …

Persistent link: https://www.econbiz.de/10010287694

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