Showing 1 - 10 of 349
This is a very draft version of the report "The random-lottery incentive system. Can p~1 experiments deductions be … "certain-uncertain" inconsistency, the deductions from the random-lottery incentive experiments, those include the certain …
Persistent link: https://www.econbiz.de/10011112592
This paper introduces a new method of estimating indifference curves in the Marschak-Machina triangle. The method involves posing questions about indifference. Contrary to previous attempts, where subjects were required to identify those lotteries to which they were indifferent vis-à-vis a...
Persistent link: https://www.econbiz.de/10011268350
This paper deals with estimating data from experiments determining lottery certainty equivalents. The paper presents … conclusion is a significant departure from one of the fundamental results concerning lottery experiments presented so far. …
Persistent link: https://www.econbiz.de/10008541487
This paper presents a nonparametric approach to classification of data from lottery experiments. Using very basic …
Persistent link: https://www.econbiz.de/10008526982
methodology, when applied to lottery experiments, makes it possible to confirm and to extend the previously presented conclusion … data inhomogeneity and not just lottery experiments. …
Persistent link: https://www.econbiz.de/10008622247
Using trust games, we study how promises and messages are used to build new trust where it did not previously exist and to rebuild damaged trust. In these games, trustees made non-binding promises of investment-contingent returns, then investors decided whether to invest, and finally trustees...
Persistent link: https://www.econbiz.de/10011108986
We study experimentally the effects of cost structure and prize allocation rules on the performance of rent-seeking contests. Most previous studies use a lottery prize rule and linear cost, and find both overbidding relative to the Nash equilibrium prediction and significant variation of...
Persistent link: https://www.econbiz.de/10011109043
Standard theoretical prediction is that rational economic agents participating in rent-seeking contests should engage in socially inefficient behavior by exerting costly efforts. Experimental studies find that the actual efforts of participants are significantly higher than predicted and that...
Persistent link: https://www.econbiz.de/10011109372
We investigate a private value auction in which a single "entrant" on winning imposes a negative externality on two "regular" bidders. In an English auction, when all bidders are active "regulars" free ride, exiting before price reaches their value. In a first-price sealed-bid auction incentives...
Persistent link: https://www.econbiz.de/10011109670
Motivated by problems of coordination failure observed in weak-link games, we experimentally investigate behavioral spillovers for minimum- and median-effort coordination games. Subjects play these coordination games simultaneously and sequentially. The results show that successful coordination...
Persistent link: https://www.econbiz.de/10011109994