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Conventions can be narrowly interpreted as coordinated ways of equilibrium play, i.e., a specific convention tells all players in a game with multiple strict equilibria which equilibrium to play. In our view, coordination often takes place before learning about the games. Thus, one has to...
Persistent link: https://www.econbiz.de/10005765213
We investigate the gender specific intertemporal allocation behavior of spouses with different deterministic life expectations in an experiment where the gen- der of one's partner is known. In each period of their life both partners propose a consumption level one of which is then randomly...
Persistent link: https://www.econbiz.de/10005765111
Whether incentive contracts perform better than trust in terms of productive efficiency is usually explored by … theoretic prediction, we find that (mutual) trust is as good as incentive contracts in inducing costly actions by employees …
Persistent link: https://www.econbiz.de/10005765124