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Since 1950s, most African nations have gained independence from their colonial powers. Fortunately, independence has brought many changes to these nations and these include multi-party democratic government and western education systems. Unfortunately, the Africa’s economy is the least...
Persistent link: https://www.econbiz.de/10011259767
Taking note of the wide variety and growing list of models in the literature to explain patterns of behavior observed in laboratory experiments, this paper identifies two tests, the Variety Test (ability of a model to explain outcomes under variety or alternative scenarios) and the Psychological...
Persistent link: https://www.econbiz.de/10005108450
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...
Persistent link: https://www.econbiz.de/10011170136
In an experiment using two-bidder first-price sealed bid auctions with symmetric independent private values, we …
Persistent link: https://www.econbiz.de/10004976975
In an experiment using two-bidder first-price sealed bid auctions with symmetric independent private values, we scan … reported to predict competitiveness in sports competition (Manning and Taylor, 2001, and Hoenekopp, Manning and Mueller, 2006 …
Persistent link: https://www.econbiz.de/10004976978
study the impact of non-deterrent formal sanctions on voluntary contributions to a public good in a laboratory experiment …
Persistent link: https://www.econbiz.de/10011107459
Despite normative predictions from economics and biology, unrelated strangers will often develop the trust necessary to reap gains from one-shot economic exchange opportunities. This appears to be especially true when declared intentions and emotions can be cheaply communicated. Perhaps even...
Persistent link: https://www.econbiz.de/10011111225
I study the effect of sunk entry-costs on potential competition in a multi-market framework, where potential entrants … and earn monopoly rents in home markets, thereby weakening the effect of potential competition. In contrast, subjects who … earning net profits. The threat of entry and the effects of potential competition are strong in the latter situation, forcing …
Persistent link: https://www.econbiz.de/10011112572
A rich body of literature has proposed that pairs behave significantly differently from individuals due to a number of reasons such as group polarization. This paper experimentally compares cooperation behaviors between pairs and individuals in a finitely-repeated two-player public goods game...
Persistent link: https://www.econbiz.de/10011191512
A comparison of the 2007-08 crisis with that of 1929 showed its extreme gravity, but it also may have implied that the old harmful mistakes would not be repeated. After four years, the crisis has not been solved and it even threatens to worsen. Neo-conservative Republicans claim that this is...
Persistent link: https://www.econbiz.de/10011260788