We use a public-good experiment to analyze behavior in a decentralized asymmetric punishment institution. The institution is asymmetric in the sense that players differ in the effectiveness of their punishment. At the aggregate level, we observe remarkable similarities between outcomes in...

In theory, the incidence of a tax should be independent of the side of the market on which it is levied. This principle of liability-side equivalence underlies virtually all theories of tax incidence. Policy discussions, however, tend to place great emphasis on the legal division of tax...

Recent bargaining experiments demonstrate an effect of anonymity and incomplete information on behavior. This has rekindled the question whether “fair” behavior is inspired by regard for others or driven by external forces. To test this, we compare a dictator game treatment that provides...