Despite a large theoretical and empirical literature on public goods and common-pool resources, a systematic comparison of these two types of social dilemmas is lacking. In fact, there is some confusion about these two types of dilemma situations. As a result, they are often treated alike. In...

We analyze the effects of ostracism on cooperation in a linear public good experiment with fixed partner design. Our results show that introducing ostracism increases contribution levels significantly except in first and last periods. Despite reductions in group size due to ostracism, the net...

The article briefly introduces Hans Albert and the basic elements of his critique of neoclassical economics as a form of ‘model Platonism’. The two most important elements of his general methodological critique of economics – namely the institutional vacuum inherent in much economic...

A choice function is sequentially rationalizable if there is an ordered collection of asymmetric binary relations that identifies the selected alternative in every choice problem. We propose a property, F-consistency, and show that it characterizes the notion of sequential rationalizability....

We investigate whether the gender composition of teams affects their economic performance. We study a large business game, played in groups of three, in which each group takes the role of a general manager. There are two parallel competitions, one involving undergraduates and the other involving...

We propose a rule of decision-making, the sequential procedure guided by routes, and show that three influential boundedly rational choice models can be equivalently understood as special cases of this rule. In addition, the sequential procedure guided by routes is instrumental in showing that...

We analyze the use of discrete choice models for the estimation of risk aversion and show a fundamental flaw in the standard random utility model which is commonly used in the literature. Specifically, we find that given two gambles, the probability of selecting the riskier gamble may be larger...