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This paper reports on the use of laboratory experimental techniques to create relatively complete economic systems. The creation of these market systems reflects a first attempt to explore the nature of inherently interdependent environments and to assess the ability of simultaneous equations...
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supply using a real effort experiment. Two results stand out. First, no one theory seems to fit the pooled data. On average … reciprocal or intrinsically motivated and, indeed, these types respond as theory would predict: reciprocators return wage gifts …
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