Showing 1 - 10 of 435
Consumer protection has become a legal phenomenon to reckon with on a global scale, with repercussions for, among others, contracts concluded between consumers and business entities – i.e., B2C contracts. While the path chosen by EU law is one of special legal protection (on the basis of...
Persistent link: https://www.econbiz.de/10014170124
The general topic of the paper is the use of the crowd to interpret text, and the power of that interpretation to predict future events. This topic is addressed through an experiment, in which news sentiment is evaluated by crowds and experts in different configurations. Their classifications...
Persistent link: https://www.econbiz.de/10012894142
Many cartels are formed by individual managers of different firms, but not by firms as collectives. However, most of the literature in industrial economics neglects individuals' incentives to form cartels. Although oligopoly experiments reveal important insights on individuals acting as firms,...
Persistent link: https://www.econbiz.de/10012938866
This paper compares alternative monetary policy regimes within a controlled lab environment, where groups of participants are tasked with repeatedly forecasting inflation in a simple macroeconomic model featuring only the dynamics of interest rates, inflation and inflation expectations....
Persistent link: https://www.econbiz.de/10012657866
Economic interactions often take place in open communities, in which agents are free to leave a community to join a more preferred one. Tiebout (1956) conjectured that “voting with feet” might generate considerable efficiency gains since individuals with different preferences sort themselves...
Persistent link: https://www.econbiz.de/10013034669
This paper investigates how different message structures impact communication strategy as well as sender and receiver behavior. Specifically, we focus on comparing communication games with messages stating an intention versus a request. Our experimental results show that when a game includes...
Persistent link: https://www.econbiz.de/10012432600
Competition among producers within an integrated electricity system is impeded by any limited transmission capacity there may be at its borders. Two alternative market mechanisms have recently been designed to organize the allocation of scarce transmission capacity at cross-border level: the...
Persistent link: https://www.econbiz.de/10014176643
This paper experimentally analyzes the effects of non-discriminatory and discriminatory leniency policies on hard-core cartels. We design a mechanism to form a hard-core cartel, which allows that multiple ringleaders emerge. Ringleaders often take a leading role in the coordination and formation...
Persistent link: https://www.econbiz.de/10014152489
We consider two alternatives to inaction for governments combating terrorism, which we term Deterrence and Prevention. Deterrence – investing in resources that reduce the impact of an attack – generates a negative externality to other governments, making their countries a more attractive...
Persistent link: https://www.econbiz.de/10014158984
Conditional cooperation is usually investigated in experiments where the choices of others are known. In many circumstances, however, there is uncertainty about others’ cooperativeness. Using a novel experimental protocol, we manipulate the perceived likelihood of cooperation in a Prisoner's...
Persistent link: https://www.econbiz.de/10014237443