This paper reviews some of the economic experimental evidence on conformism. There is nothing to match the early psychology experiments where subjects were often swayed by the behaviour of others to an extraordinary degree, but there is plenty of evidence of conformism. This seems built-in to...

This paper reviews some of the economic experimental evidence on conformism. There is nothing to match the early psychology experiments where subjects were often swayed by the behaviour of others to an extraordinary degree, but there is plenty of evidence of conformism. This seems built-in to...

This paper offers an explanation of European cross country differences in the trust enjoyed by television. Our argument turns on the way that, while there is significant public ownership of television in all countries (so that trust in broadcasting as a whole is bound to depend importantly on...

This paper examines experimentally two common conjectures in the popular literature on financial markets: that they are swayed by emotion and that they behave like a 'crowd'. We find consistent evidence that deviations of prices from fundamental value depend on the emotion of excitement and on...

We present the results of an experiment that attempts to measure the social value of groups. In the experiment, group membership is induced artificially: subjects interact with insiders and outsiders in trust games and periodically enter markets where they can trade group membership. We find...

This paper addresses a particular issue of institutional choice. It is concerned with one aspect of the argument for participatory decision-making structures: how to make sense of the claim that participation can raise productivity because it produces a change in motivation. The argument of the...