Fehr, Ernst; Hart, Oliver; Zehnder, Christian - Institut für Volkswirtschaftslehre, … - 2011
such as informal agreements and ex post renegotiation. We investigate the relevance of these features experimentally. Our … the presence of informal agreements and ex post renegotiation. However, our data also reveal new behavioral features that … renegotiation changes how trading parties evaluate ex post outcomes. Interestingly, the availability of these additional options …