A particular problem of traditional Rational Choice Theory is that it cannot explain equilibrium selection in simple coordination games. In this paper we analyze and discuss the solution concept for common coordination problems as incorporated in the theory of Team Reasoning (TR). Special...

We evaluate how traders' asset market activities are distributed in time impacts pricing efficiency, volume, and individual portfolio holdings. Through the first controlled experiment on such timing, we find that cohorts who participate in a sequence of three markets in a single experimental...

This study examines the effect of electoral strength on politician's trade policy preferences using data of candidates running for the members of the House of Representatives in Japan. The results reveal that the electoral strength measured by the margin of vote affects candidates' trade policy...

This paper presents a model of candidate selection through political parties where politicians differ in terms of their quality and their favored policies. The central assumption is that political parties are better informed about their potential candidates than voters are. In addition, parties...

This paper presents a model of candidate selection through political parties where politicians differ in terms of their quality and their favored policies. The central assumption is that political parties are better informed about their potential candidates than voters are. Questions of interest...

The paper attempts to test the following hypotheses: (i) Are people generally self interested, (ii) If people tend to be generous, what is the motive, i.e., either they fear rejection or do they have a preference for fairness, and (iii) Is there any behavioral difference in bargaining between...

It is difficult to identify acts that are purely altruistic, and do not have some level of egoism or self-interest involved. By considering situations where team members seemingly have nothing to gain by the way they distribute points to others with regard to peer evaluation, and where their...

In reverse auctions, buyers often retain the right to bargain further concessions from the winner. The optimal form of such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner. We study behavior and performance in this...

Social fragmentation has been identified as a potential cause for the under-provision of public goods in developing nations, as well as in urban communities in developed countries such as the U.S. We study the effect of social fragmentation on public good provision using laboratory experiments....

We explore the effects of the provision of an information-processing instrument - payoff tables - on behavior in experimental oligopolies. In one experimental setting, subjects have access to payoff tables whereas in the other setting they have not. It turns out that this minor variation in...