Maciejovsky, Boris; Wernerfelt, Birger - In: Journal of Economic Behavior & Organization 77 (2011) 3, pp. 318-325
A mechanism with low direct cost of use may be preferred to alternatives implementing more efficient allocations. We show this experimentally by giving pairs of subjects the option to agree on a single average price for a sequence of trades--in effect pooling several small bargains into a larger...
