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A note on the design of experiments involving public goods

Graves, Philip E. - 2010

Concern about potential free riding in the provision of public goods has a long history. More recently, experimental economists have turned their attention to the conditions under which free riding would be expected to occur. A model of free riding is provided here which demonstrates that...

Persistent link: https://www.econbiz.de/10010274945

Thar she bursts - Reducing confusion reduces bubbles

Kirchler, Michael; Huber, Jürgen; Stöckl, Thomas - 2011

To explore why bubbles frequently emerge in the experimental asset market model of Smith, Suchanek and Williams (1988), we vary the fundamental value process (constant or declining) and the cash-to-asset value-ratio (constant or increasing). We observe high mispricing in treatments with a...

Persistent link: https://www.econbiz.de/10010294824

Information and Strategic Voting

Tyszler, Marcelo; Schram, Arthur - 2011

We theoretically and experimentally study voter behavior in a setting characterized by plurality rule and mandatory voting, where voters choose from three options. We are interested in the occurrence of strategic voting in an environment where Condorcet cycles may occur. In particular, we focus...

Persistent link: https://www.econbiz.de/10010325876

Price efficiency and trading behavior in limit order markets with competing insiders

Stöckl, Thomas - 2013

We study price efficiency and trading behavior in laboratory limit order markets with asymmetrically informed traders. Markets differ in the number of insiders present and in the subset of traders who receive information about the number of insiders present. We observe that price efficiency (i)...

Persistent link: https://www.econbiz.de/10010397152

Humans, robots and market crashes: A laboratory study

Feldman, Todd; Friedman, Daniel - 2008

We introduce human traders into an agent based financial market simulation prone to bubbles and crashes. We find that human traders earn lower profits overall than do the simulated agents (robots) but earn higher profits in the most crash-intensive periods. Inexperienced human traders tend to...

Persistent link: https://www.econbiz.de/10010288144

Team Governance: Empowerment or Hierarchical Control

Friebel, Guido; Schnedler, Wendelin - 2007

We investigate a team setting in which workers have different degrees of commitment to the outcome of their work. We show that if there are complementarities in production and if the team manager has some information about team members, interventions that the manager undertakes in order to...

Persistent link: https://www.econbiz.de/10011422162

Does volatility matter? Expectations of price return and variability in an asset pricing experiment

Bottazzi, Giulio; Devetag, Giovanna; Pancotto, Francesca - 2009

We present results of an experiment on expectation formation in an asset market. Participants to our experiment must provide forecasts of the stock future return to computerized utility-maximizing investors, and are rewarded according to how well their forecasts perform in the market. In the...

Persistent link: https://www.econbiz.de/10010328471

The ultimatum game and expected utility maximization: In view of attachment theory

Almakias, Shaul; Weiss, Avi - 2009

In this paper we import a mainstream psycholgical theory, known as attachment theory, into economics and show the … implications of this theory for economic behavior by individuals in the ultimatum bargaining game. Attachment theory examines the … fear of abandonment and of not being loved. Utilizing attachment theory, we evaluate the connection between attachment …

Persistent link: https://www.econbiz.de/10010336040

Coordination and critical mass in a network market: An experimental investigation

Ruffle, Bradley J.; Weiss, Avi; Etziony, Amir - 2010

A network market is a market in which the benefit each consumer derives from a good is an increasing function of the number of consumers who own the same or similar goods. A major obstacle that plagues the introduction of a network good is the ability to reach critical mass, namely, the minimum...

Persistent link: https://www.econbiz.de/10010336053

Revealed distributional preferences: Individuals vs. teams

Balafoutas, Loukas; Kerschbamer, Rudolf; Kocher, Martin; … - 2013

We compare experimentally the revealed distributional preferences of individuals and teams in allocation tasks. We find that teams are significantly more benevolent than individuals in the domain of disadvantageous inequality while the benevolence in the domain of advantageous inequality is...

Persistent link: https://www.econbiz.de/10010397144