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; principal-agent theory ; experimental economics ; repeated interaction …
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Though the social choice of social institutions or social results is impossible there is, strictly speaking, no social choice individual evaluations of social institutions or results trivially are possible. Such individual evaluations can be deemed liberal either because they emphasize political...
Persistent link: https://www.econbiz.de/10003765995
On a heterogeneous experimental oligopoly market, sellers choose a price, specify a set-valued prior-free conjecture about the others' behavior, and form their own profit-aspiration for each element of their conjecture. We formally define the concepts of satisficing and prior-free optimality and...
Persistent link: https://www.econbiz.de/10003766614
We study ultimatum and dictator experiments where the first mover chooses the amount of money to be distributed between the players within a given interval, knowing that her own share is fixed. Thus, the first mover is faced with scarcity, but not with the typical trade-off between her own and...
Persistent link: https://www.econbiz.de/10003883008
straightforward behavior is predicted by Harsanyi and Selten's (1988) equilibrium selection theory as well as alternative solution …
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We report on an experiment using video technology to manipulate pre-play communication protocols in the lab and to study purely social effects of communication on donations and discrimination between potential receivers. The experimental design eliminates strategic factors by allowing two...
Persistent link: https://www.econbiz.de/10003980503
Although one may hope to achieve equality of stated profits without enforcing it, one may not trust in such voluntary equality seeking and rather try to impose rules (of bidding) guaranteeing it. Our axiomatic approach is based on envy-free net trades according to bids which, together with the...
Persistent link: https://www.econbiz.de/10003944203