This paper uses experimental econoic methods to present evidence that the absence of a negative effect on demand in reaction to products containing GMO's is in large measure due to the fact that customers do not notice the labelling.

One of the main challenges for monetary economics is to explain the use of assets that are dominated in rate-of-return as media of exchange. In this paper, we use experimental methods to study how a fiat money might come to be used in transactions when an identically marketable, dividend-bearing...

We introduced a parametric model of other-regarding preferences in which my emotional state determines the marginal rate of substitution between my own and other' payoffs, and thus my subsequent choices. In turn, my emotional state responds to relative status and to the kindness or unkindness of...

We study cooperation in four-person economies of indefinite duration. Subjects interact anonymously playing a prisoner’s dilemma. We identify and characterize the strategies employed at the aggregate and at the individual level. We find that (i) grim trigger well describes aggregate play, but...

Evidence shows that real-effort investments can affect bilateral bargaining outcomes. This paper investigates whether similar investments can inhibit equilibrium convergence of experimental markets. In one treatment, sellers’ relative effort affects the allocation of production costs, but a...