Thanks to the recent studies of the history and philosophy of experimental economics, it is well known that around the early 1980s, experimental economists made a case for the legitimacy of their laboratory work by emphasizing that it was a nice and indispensable complement to mechanism design...

The emergence of experimental economics in the last third of the 20th century revisited the long-standing belief that economics is a non-experimental discipline. The history of this new practice reveals this went further than simply introducing the experimental method to economics. Its history...

Default options have been shown to affect behaviour in a variety of economic choice tasks, including health care and retirement savings. Less research has tested whether defaults affect behaviour in the domain of energy efficiency. This study uses data from a randomized controlled experiment in...

The authors show how the influence of extrinsic random signals depends on the noise structure of these signals. They present an experiment on a coordination game in which extrinsic random signals may generate sunspot equilibria. They measure how these signals affect behavior. Sunspot equilibria...

This paper presents an experimental investigation of persuasion bias, a form of bounded rationality whereby agents communicating through a social network are unable to account for possible repetitions in the information they receive. The results indicate that network structure plays a...

We show that extrinsic or non-fundamental uncertainty influences markets in a controlled environment. This work provides the first direct evidence of sunspot equilibria. These equilibria require a common understanding of the semantics of the sunspot variable, and they appear to be sensitive to...

This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes. In equilibrium fairness matters because of market...

This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes. In equilibrium fairness matters because of market...

This is a systematic experimental comparison of the efficiency and competitive properties of a computerized multiunit tatonnement with or without a dynamic improvement rule, with or without publicity of order flow information. All versions of the tatonnement are comparatively less efficient than...

Die Theorie des Wettbewerbs als Entdeckungsverfahren behauptet, daß die Ergebnisse des Wettbewerbes nicht vorhergesagt werden können, weil hierzu Tatsachen benötigt würden, die durch ihn erst entdeckt werden sollen. Dann wäre es allerdings unmöglich, Aussagen über Wettbewerb empirisch zu...