validity to the basic design. As complexity increases, prices become autocorrelated with cyclical tendencies. Regressions and … original cobweb design, adaptive price expectations do not suffice to eliminate fluctuations. Thus, our experiment indicates …

result, the complete contract may become too complex (or too costly) to devise and manage directly. My contention in this …

principal wants to design a contract that uses this correlated information. We find that the fully specified contract may be too …

analyses offer an appropriate analytical approach to analyze problems that are immersed in systemic complexity and its … such a complex combination by the term ‘socio-scientific’. In the study of socio-scientific complexity, dynamic preferences … rather than objectivity in the presence of complexity. Complex situations of the socio-scientific universe cause …

firms to choose even more excess complexity. Firms with lower intrinsic quality and higher production costs choose the most … excess complexity. Educating consumers to reduce their evaluation noise would generate large welfare gains. But the gains …

-subject experiment is used to estimate the unobservable parameter of inequity aversion. Experimental results generally support the model …