We study differences in behavior across countries in a labor market context. To this end, we conducted a bilateral gift-exchange experiment comparing the behavior of subjects from five high-income OECD countries: Germany, Spain, Israel, Japan and the USA. We observe that in all countries, effort...

The experimental results of the current paper reveal positive relations between shortselling bidding prices and the WTA-WTP gap. This result may be explained by the status-quo bias.