This study explores asymmetric volunteers' dilemma (VOD) games where costs for volunteering is different among players. Diekmann (1993) conjectures that an equilibrium, in which a player with less costs contributes, is more likely to be played if it is risk dominant. We re-examined this...

To examine the degree to which price fluctuations affect how individuals approach an intertemporal decision-making problem, we conduct a laboratory experiment in which subjects spend their savings on consumption over 20 periods. In the control treatment, the commodity price is constant across...

We conducted a field experiment on the Internet and investigated the participants’ belief updating in an individual learning environment where they observe a sequence of private signals and in a social learning environment where they observe a sequence of other people’s actions. We observed...