What is the role of intuitive versus deliberative cognitive processing in human cooperation? The Social Heuristics Hypothesis (SHH) stipulates that (i) intuition favors behaviors that are typically advantageous (i.e. long-run payoff-maximizing), and that for most people cooperation is typically...

Two separate bodies of work have examined whether culture affects cooperation in economic games and whether cooperative or non-cooperative decisions occur more quickly. Here, we connect this work by exploring the relationship between decision time and cooperation in American versus Indian...

Economic laboratory experiments are often used for testing real-world economic mechanisms, such as multi-item auctions and multi-contract cost sharing. Ensuring that participants understand these increasingly complex tasks is crucial in order to maintain control, the reproducibility, and the...

Experimental economists believe (and enforce) that researchers should not employ deception in the design of experiments. The rule exists in order to protect a public good: the ability of other researchers to conduct experiments and have participants trust their instructions to be an accurate...

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...

Using coordination games, we study whether social norm perception differs between inexperienced and experienced participants in economic laboratory experiments. We find substantial differences between the two groups, both regarding injunctive and descriptive social norms in the context of...

Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature offers for the differences found in the behavior...

This paper argues that the acceptance of two recent methodological advances in economics, namely game theory and laboratory experimentation, was affected by the history dependence constraining the formalization of economics. After an early period in which the two methods were coolly received by...

We study whether social norm perception in economic laboratory experiments differs between subjects that participate for the first time and subjects that already participated many times. Consistent with previous studies, inexperienced subjects pronounce egalitarianism, while experienced subjects...

This is the first paper to test the asset pricing implication of leverage in a laboratory. We show that as theory predicts, leverage increases asset prices: When an asset can be used as collateral (that is, when the asset can be bought on margin), its price goes up. This increase is significant,...