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Inefficiency in private value bargaining with naive players : an experimental study
Possajennikov, Alexandre; Saran, Rene - 2018
The paper reports on an experiment on two-player double-auction bargaining with private values. We consider a setting … no equilibrium achieving full efficiency. In the experiment, we vary the proportion of naive traders by introducing … computerized players. We find that full efficiency is not achieved in the experiment with or without naive traders, and efficiency …
Persistent link: https://www.econbiz.de/10011852503
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Face-to-Face Lying : An Experimental Study in Sweden and Japan
Holm, Håkan J.; Kawagoe, Toshiji - 2008
This paper investigates face-to-face lying and beliefs associated with it. In experiments in Sweden and Japan, subjects answer questions about personal characteristics, play a face-to-face sender-receiver game and participate in an elicitation of lie-detection beliefs. The previous finding of...
Persistent link: https://www.econbiz.de/10014220436
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Increasing consumer surplus through a novel product testing mechanism
Vollstaedt, Ulrike; Imcke, Patrick; Brendel, Franziska; … - 2020
Our study proposes a novel mechanism to reduce information asymmetry about product quality between buyers and sellers. Product testing organizations like Consumer Reports (US) and Stiftung Warentest (Germany) seek to reduce this asymmetry by providing credible information. However, limited...
Persistent link: https://www.econbiz.de/10012405619
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Lying About Delegation
Sutan, Angela - 2015
This paper reports results from a three-player variant of the ultimatum game in which the Proposer can delegate to a third party his decision regarding how to share his endowment with a Responder with a standard veto right. However, the Responder cannot verify whether the delegation is effective...
Persistent link: https://www.econbiz.de/10013029512
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The impact of distributional preferences on (experimental) markets for expert services
Kerschbamer, Rudolf; Sutter, Matthias; Dulleck, Uwe - 2009
as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either … ; experiment …
Persistent link: https://www.econbiz.de/10003931304
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Deception through telling the truth?! : experimental evidence from individuals and teams
Sutter, Matthias - 2007 - This version: 23rd October 2007
telling a lie or misrepresenting information. In this paper I use a cheap-talk sender-receiver experiment to show that telling … where teams make decisions. -- deception ; expectations ; team decision making ; individual decision making ; experiment …
Persistent link: https://www.econbiz.de/10009731801
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The economics of credence goods : on the role of liability, verifiability, reputation and competition
Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009
inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the … higher efficiency as long as liability is violated. -- credence goods ; experiment ; liability ; verifiability ; reputation …
Persistent link: https://www.econbiz.de/10009733215
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Car mechanics in the lab : investigating the behavior of real experts on experimental markets for credence goods
Beck, Adrian; Kerschbamer, Rudolf; Qiu, Jianying; … - 2014 - This Version: December 25th, 2013
Credence goods, such as car repairs or medical services, are characterized by severe informational asymmetries between sellers and consumers, leading to fraud in the form of provision of insufficient service (undertreatment), provision of unnecessary service (overtreatment) and charging too much...
Persistent link: https://www.econbiz.de/10010237656
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How social preferences shape incentives in (experimental) markets for credence goods
Kerschbamer, Rudolf; Sutter, Matthias; Dulleck, Uwe - 2015 - This Version: February 2015
Credence goods markets suffer from inefficiencies caused by superior information of sellers about the surplus-maximizing quality. While standard theory predicts that equal mark-up prices solve the credence goods problem if customers can verify the quality received, experimental evidence...
Persistent link: https://www.econbiz.de/10010479932
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Power and the privilege of clarity : an analysis of bargaining power and information transmission
Groot Ruiz, Adrian de; Offerman, Theo; Onderstal, Sander - 2012
by an experiment. Finally, we show how partial information transmission can lead to communication failure, and show how …
Persistent link: https://www.econbiz.de/10011386160