It is well known from the compliance literature that whenever it costly tomonitor agents' compliance to contract terms, compliance is likely to beincomplete. This paper goes one step further by examining the implications ofincomplete monitoring on agent's sales offers in auctions for...

We use panel data from two experiments conducted five months a part to investigatethe stability of individual preferences and aggregate demand for five types of fish. Even though the bids in the two experiments are positively correlated, they clearly suggest that the individual preferences are...