In phase 1 of our experiment every participant plays the ultimatum game with each of the other five group members, each taking the role of proposer and responder. For each of the offers one learns how many participants would have accepted it. The pie is 30 times larger in phase 2. It thus pays...

It is often claimed that, if one could sense whether the other is going to cooperate or not, cooperators will manage to cooperate. Our experiment tries to shed new light on this debate. Participants could make their strategies in an asymmetric prisoner's dilemma game and a trust game dependent...

This paper investigates (i) the robustness of hindsight bias in experimental asset markets, (ii) the time invariance of the different experimental risk elicitation methods of certainty equivalents and binary lottery choices, and (iii) their correspondence. The results of our within-subjects...

In this paper we investigate individual overconfidence within the context of an experimental asset market. Overall, 72 participants traded one risky asset on six markets of 12 participants each. Our results indicate that participants are not generally prone to overconfidence. A comparison of two...

The results of an asset market experiment, in which 64 subjects trade two assets on eight markets in a computerized continuous double auction, indicate that (i) objectively irrelevant information influences trading behavior. Moreover, positively and negatively framed information leads to a...

In this paper we investigate individual overconfidence within the context of an experimental asset market. Overall, 72 participants traded one risky asset on six markets of 12 participants each. Our results indicate that participants are not generally prone to overconfidence. A comparison of two...

In this paper we investigate four hypotheses which are inconsistent with expected utility theory, but may well be explained by prospect theory. It deals with framing, the non-linearity of subjective probabilities, the disposition effect, and the correspondence of different experimental risk...