Showing 1 - 10 of 226
This paper reports the results of an experimental test of the Nash equilibrium prediction of voluntary provision of property rights in a contest under anarchy. Specically, the experiment investigates whether pre-commitment induces positive provision of property rights. As pre- dicted, zero...
Persistent link: https://www.econbiz.de/10011148660
Consumers’ willingness-to-pay (WTP) for post-harvest processed (PHP) raw oysters – oysters without health risks – is studied in experimental nth-price auction markets. The experimental design decomposes the effects of taste, objective risk information, and information on four PHP...
Persistent link: https://www.econbiz.de/10009293340
The failure of foreign aid to promote growth in the developing world has received significant attention as evidence suggests that foreign aid does not translate into investment. This research has demonstrated that poor institutions in these developing economies (particularly with respect to...
Persistent link: https://www.econbiz.de/10005763102
This paper derives the conditions under which property rights can arise in an anarchy equilibrium. The creation of property rights requires that players devote part of their endowment to the public good of property rights protection. In the Nash equilibrium, players contribute zero to the...
Persistent link: https://www.econbiz.de/10005464086
Consumers’ willingness to pay for postharvest-processed (PHP) raw oysters—oysters without health risks—is studied in experimental auction markets. The experimental design decomposes the effects of taste, objective risk information, and information on four PHP technologies on...
Persistent link: https://www.econbiz.de/10011142641
This paper presents an experimental test of a 2-player, one-shot game of conflict in which we vary the strength of property rights and the return on investment. Our results suggest that stronger property rights reduce conflict and increase investment. Contrary to intuition, we find increasing...
Persistent link: https://www.econbiz.de/10010625745
This paper examines the endogenous formation of coalitions that provide public goods in which players implement a minimum participation requirement before deciding whether to join. We demonstrate theoretically that payoff-maximizing players will vote to implement efficient participation...
Persistent link: https://www.econbiz.de/10009001021
Punishment has been shown to be an effective reinforcement mechanism. Intentional or not, punishment will likely generate spillover effects that extend beyond one’s immediate decision environment, and these spillovers are not as well understood. We seek to understand these secondary spillover...
Persistent link: https://www.econbiz.de/10009003658
We use experiments to study coordination in games with incomplete information and ask whether an informed player can use cheap talk strategically. Two players decide whether to enter a market where stage game payoffs either form a prisoner’s dilemma or a stag-hunt. One player knows which stage...
Persistent link: https://www.econbiz.de/10009018062
In many rural areas land use patterns are shifting from agriculture or woodland to residential development. This is especially true in areas possessing significant natural amenities like the sweeping vistas, white-water rivers, and blue-ridged mountains of Southern Appalachia. As in-migration...
Persistent link: https://www.econbiz.de/10009367352