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Handing out guns at a knife fight : behavioral limitations of subgame-perfect implementation
Fehr, Ernst; Powell, Michael; Wilkening, Tom - 2014
The assumption that payoff-relevant information is observable but not verifiable is important for many core results in contract, organizational and institutional economics. However, subgame-perfect implementation (SPI) mechanisms - which are based on off-equilibrium arbitration clauses that...
Persistent link: https://www.econbiz.de/10010398756
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Handing out guns at a knife fight : behavioral limitations of subgame-perfect implementation
Fehr, Ernst; Powell, Michael; Wilkening, Tom - 2014
The assumption that payoff-relevant information is observable but not verifiable is important for many core results in contract, organizational and institutional economics. However, subgame-perfect implementation (SPI) mechanisms - which are based on off-equilibrium arbitration clauses that...
Persistent link: https://www.econbiz.de/10010399065
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Handing out guns at a knife fight : behavioral limitations of subgame-perfect implementation
Fehr, Ernst; Powell, Michael; Wilkening, Tom - 2014
The assumption that payoff-relevant information is observable but not verifiable is important for many core results in contract, organizational and institutional economics. However, subgame-perfect implementation (SPI) mechanisms - which are based on off- equilibrium arbitration clauses that...
Persistent link: https://www.econbiz.de/10010402672
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Social preferences, accountability, and wage bargaining
Kocher, Martin; Poulsen, Odile; Zizzo, Daniel John - 2012
We assess the extent of preferences for employment in a collective wage bargaining situation with heterogeneous workers. We vary the size of the union and introduce a treatment mechanism transforming the voting game into an individual allocation task. Our results show that highly productive...
Persistent link: https://www.econbiz.de/10009656202
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Preferences for redistribution and perception of fairness : an experimental study
Durante, Ruben; Putterman, Louis G.; Weele, Joël J. van der - 2013
We conduct a laboratory experiment to study how demand for redistribution of income depends on self-interest, insurance motives, and social concerns relating to inequality and efficiency. Our choice environments feature large groups of subjects and real world framing, and differ with respect to...
Persistent link: https://www.econbiz.de/10009781859
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Social preferences and political attitudes : an online experiment on a large heterogeneous sample
Kerschbamer, Rudolf; Müller, Daniel - 2017
This paper investigates - in a large heterogeneous sample - the relationship between social preferences on the one hand, and socioeconomic factors and political preferences on the other hand. Socioeconomic factors correlate with social preferences, and social preferences robustly shape political...
Persistent link: https://www.econbiz.de/10011714571
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The social preferences of democratically elected decision makers and the conflict between wealth generation and distribution
Gaudeul, Alexia; Keser, Claudia - 2017
We run a laboratory experiment where some participants are selected to make investment decisions on behalf of others. We test whether a democratic context influences the social preferences of decision makers in terms of efficiency, altruism and concern for inequality. We find that decision...
Persistent link: https://www.econbiz.de/10011753528
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Bargaining in the presence of condorcet cycles : the role of asymmetries
Kamm, Aaron; Houba, Harold - 2015
This paper reports results from a laboratory experiment studying the role of asymmetries, both in payoffs and recognition probabilities, in a model of strategic bargaining with Condorcet cycles. Overall, we find only limited support for the equilibrium predictions. The main deviations from...
Persistent link: https://www.econbiz.de/10010532580
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Choice, deferral, and consistency
Costa‐Gomes, Miguel A.; Cueva, Carlos; Gerasimou, Georgios - In: Quantitative economics : QE ; journal of the … 13 (2022) 3, pp. 1297-1318
We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is … the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice … by rational choice. Our results suggest that nonforced‐choice experiments and models can be helpful in separating people …
Persistent link: https://www.econbiz.de/10013382078
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Market experience is a reference point in judgments of fairness
Herz, Holger; Taubinsky, Dmitry - 2013
People's desire for fair transactions can play an important role in negotiations, organizations, and markets. In this paper, we show that markets can also shape what people consider to be a fair transaction. We propose a simple and generally-applicable model of path-dependent fairness...
Persistent link: https://www.econbiz.de/10009774351