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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
In experimental games, a substantial minority of players often fail to best respond. Using two-person 3x3 one-shot games, we investigated whether 'structuring' the pre-decision deliberation process produces greater consistency between individuals' stated values and beliefs on the one hand and...
Persistent link: https://www.econbiz.de/10012131659
-making experiment preceding the take game. The gameconsists of two stages. In the first stage, the take authority decides howmuch income …
Persistent link: https://www.econbiz.de/10011301155
dictator game. In our experiment teams are more selfish than individuals, and the most selfish team member has the strongest …
Persistent link: https://www.econbiz.de/10011349704
This paper experimentally studies two simple interventions aimed at increasing public goods provision in settings in which accurate feedback about contributions is not available. The first intervention aims to exploit lying aversion by requiring subjects to send a non-verifiable ex post...
Persistent link: https://www.econbiz.de/10011982104
image concerns of being perceived as a promise breaker play a role. In a controlled laboratory experiment, we vary the ex …
Persistent link: https://www.econbiz.de/10010363908
image concerns of being perceived as a promise breaker play a role. In a controlled laboratory experiment, we vary the ex …
Persistent link: https://www.econbiz.de/10010403536
second half of the paper tests the theoretical predictions in an experiment. In contrast to previous literature, the …
Persistent link: https://www.econbiz.de/10012500269
exploit data from a laboratory experiment in which participants were asked to assess videotaped statements as being rather …
Persistent link: https://www.econbiz.de/10011444111
In first- and second-price private value auctions with sequential bidding, second movers may discover the first movers' bid. Equilibrium behavior in the first-price auction is mostly unaffected but there are multiple equilibria in the second-price auction. Consequently, comparative statics...
Persistent link: https://www.econbiz.de/10012947421