Opinion is divided on whether it is better to have a single world money or variable exchange rates.Pope, Selten and von Hagen (2003) propose that fresh light would be shed via an analysis that allows forseven complexity impacts on the exchange rate that are underplayed (where not entirely...

Survey instruments are used to examine the role which ‘warm glow’, social cohesion or identity play in determining the demand for the output of consumer cooperatives. Almost 300 students are surveyed. My findings challenge the narrow economic worldview that only economic variables count; but...

This paper analyzes to what degree 25 undergraduate microeconomics textbooks incorporate contributions from behavioral economics and experimental economics. We find that ten of the 25 textbooks examined make no reference at all to behavioral economics; six dedicate less than 1% of total pages to...

How can a principal (an agent) ensure that an agent (a principal) will work (pay up), ifpayment (work) precedes work (payment)? When a banknote is torn in two, each part is byitself worthless. A principal can pre-commit to payment-on-delivery, by tearing a banknoteand giving the agent the first...

This paper studies how a preference for consistency can affect economic decision-making.We propose a two-period model where people have a preference for consistency becauseconsistent behavior allows them to signal personal and intellectual strength. We then presentthree experiments that study...

We conducted two fundraising experiments to study the effects (1) of compassion towards the beneficiary, and (2) of giving participants an opportunity to attribute small donations to luck. We find that exposing the participants to a plea to help the beneficiary increases the average donation....

Gallice and Monzón (2019) present a natural environment that sustains full cooperation in one-shot social dilemmas among a finite number of self-interested agents. They demonstrate that in a sequential public goods game, where agents lack knowledge of their position in the sequence but can...

Social preferences depend on emotional states like compassion and anger. Since emotions are fleeting and subject to manipulation, they may generate demand for commitment. We investigate the use of commitment strategies in an online experiment (n = 1, 400), where subjects decide to watch or avoid...

In this experimental study we examine the behavior of Bundeswehr officers and officer candidates regarding their willingness to cooperate. Due to the military training which focuses on comradeship and reliable teamwork even under extreme conditions, we expect a strong bond between soldiers and...

This paper analyzes seasonal effects and their potential drivers in charitable giving. We analyze whether donations differ between the pre-Christmas shopping season and summer. Our experiment aims to minimize confounding factors and controls for donor heterogeneity. We find that prosocial...