An inter-governmental body is encouraging the replacement of currency with the objective of discouraging illegal economic activities. This policy is analyzed in a search-theoretic monetary economy with government enforcement. Individuals choose a legal or illegal production and settle trades via...

In this paper, we present the design and the results of an experiment in which subjects participate in a bidding game identical to the one seen on the television game show "The Price is Right". Four players make sequential guesses about the price of an item, and the player whose guess is closest...

In this paper we replicate and extend the experiment of Fehr and Gaechter (2000) that analyzes the effect of an opportunity to punish others on the level contributions in the Voluntary Contributions Mechanism.