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of unknown goods will find it optimal at some point to become variety averse. To test this hypothesis, an experiment is … rationality ; decision making ; laboratory experiment. …
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We analyse a stylized model of the world grain market characterized by a small oligopoly of traders with market power on both the supply and demand side. Crops are stochastic and exporting countries can impose export tariffs to protect domestic food prices. Our first result is that export...
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We conduct a laboratory experiment that tests two fundamental predictions unique to salience theory. If an agent … unexpectedly high. In our experiment, subjects purchased fast or slow internet access at different price levels. Our results …
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