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Less rationality, more efficiency : a laboratory experiment on "lemons" markets

Kirstein, Roland; Kirstein, Annette - 2005 - Version of October 2005

In this paper we experimentally test a theory of boundedly rational behavior in a "lemons market." We analyzed two different market designs, for which perfect rationality implies complete and partial market collapse, respectively. Our empirical observations deviate substantially from these...

Persistent link: https://www.econbiz.de/10010506629

Less Rationality, More Efficiency: a Laboratory Experiment on "Lemon" Markets.

Kirstein, Annette; Kirstein, Roland - 2004

We have experimentally tested a theory of bounded rational behavior in a "lemon market". It provides an explanation for the observation that real world players successfully conclude transactions when perfect rationality predicts a market collapse. We analyzed two different market designs :...

Persistent link: https://www.econbiz.de/10010296891

Less Rationality, More Efficiency: a Laboratory Experiment on "Lemons" Markets

Kirstein, Annette; Kirstein, Roland - 2004

Persistent link: https://www.econbiz.de/10010296939

Europäischer Verbraucherschutz - Ausdruck grenzenloser Regulierungswut oder sinnvoller Schutz für Käufer? Erkenntnisse aus einem Laborexperiment

Kirstein, Roland; Kirstein, Annette - 2006

-Verbraucherschutzregulierung von 1999 abzuleiten. Die beiden Marktdesigns, die im Experiment getestet wurden, unterscheiden sich hinsichtlich des …The paper uses the results of a lemons market experiment to derive economic policy implications regarding the EU … regulation on consumer protection. The two lemons market designs tested in the experiment differed with respect to the risk of …

Persistent link: https://www.econbiz.de/10010296934

Less rationality, more efficiency : a laboratory experiment on "Lemon" markets

Kirstein, Roland (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001982098

Less Rationality, More Efficiency : A Laboratory Experiment on Lemons Markets

Kirstein, Roland; Kirstein, Annette - 2007

In this paper we experimentally test a theory of boundedly rational behavior in a lemons market. We analyzed two different market designs, for which perfect rationality implies complete and partial market collapse, respectively. Our empirical observations deviate substantially from these...

Persistent link: https://www.econbiz.de/10014052590

Anti-Teilen in Teams

Kirstein, Roland - In: Modellgestützte Personalentscheidungen 8 : [10. …, (pp. 51-62). 2005

Persistent link: https://www.econbiz.de/10002519437

Anti-Teilen in Teams

Kirstein, Roland (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002059940

Inefficient intra-firm incentives can stabilize cartels in cournot oligopolies

Kirstein, Roland (contributor); … - 2004 - [Elektronische Ressource]

The need for intra-firm incentive schemes allows remodeling the Cournot duopoly in wages (rather than in output levels). In both versions of the Cournot model, a cartel agreement is unstable. The new formulation, however, allows us to demonstrate that a collective wage agreement on minimum wages...

Persistent link: https://www.econbiz.de/10002243650

Inefficient Intra-Firm Incentives Can Stabilize Cartels in Cournot Oligopolies

Kirstein, Roland; Kirstein, Annette - 2008

The instability of Cournot cartels can be overcome by a collective wage agreement if this agreement stipulates minimum fixed wages and piece rates that are legally enforceable. This new view on the institution of collective wage agreements is not only relevant for strategic management, it also...

Persistent link: https://www.econbiz.de/10014026387