In the first part of this book bargaining experiments with different economic and ethical frames are investigated. The distributive principles and norms the subjects apply and their justifications for these principles are evaluated. The bargaining processes and the resulting agreements are...

The FDA sets a uniform hypothesis test's approval standard at the end of Phase III clinical trials for new drugs. We study the impact of flexible approval standards on experimentation and social welfare when pharmaceutical companies (firms) are strategic, especially in terms of the level of...