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We run a laboratory experiment with a two-person game with unique pure Nash equilibrium which is also the solution of the iterative elimination of strictly dominated strategies. The subjects are asked to commit to a device that randomly picks one of three symmetric outcomes in this game...
Persistent link: https://www.econbiz.de/10011962034
This paper reports an experiment that examines whether groups can make better decisions than individuals in contests. Our experiment replicates previous findings that individual players significantly overbid relative to theoretical predictions, incurring substantial losses. There is high...
Persistent link: https://www.econbiz.de/10008528454
Principal-agent problems can reduce gains from exchange available in long distance trade. One solution to mitigate this problem is multilateral punishment, whereby groups of principals jointly punish cheating agents by giving them bad reputations. But how does such punishment work when there is...
Persistent link: https://www.econbiz.de/10012950453
understood. We study cooperation under different monitoring and communication structures in the laboratory. Under all monitoring … monitoring, where actions can only be observed with noise, cooperation is stable only when subjects can communicate before every …
Persistent link: https://www.econbiz.de/10012908872
Case studies of cartels and recent theory suggest that communication promotes cooperation under imperfect monitoring … uncertainty, which boosts cooperation at the beginning of an interaction. Under perfect monitoring, this is sufficient to reach a … under imperfect monitoring, where players face additional uncertainty about the history of play …
Persistent link: https://www.econbiz.de/10012854170
This study examines risk premia in a laboratory market featuring a long-lived asset. The research is enabled by prevention of the persistent bubbles and crashes endemic to laboratory markets utilizing long-lived assets. Positive, statistically significant risk premia are reported, in support of...
Persistent link: https://www.econbiz.de/10013027527
This article presents a comparator module which aims to compare, in real time, executions of organizational transactions with patterns of behaviors of these transaction executions, allowing the determination of which execution pattern is being followed by running each transaction. This is...
Persistent link: https://www.econbiz.de/10012045661
monitoring. The framework can be used to guide organizations in reducing the losses resulting from the realization of threats to …
Persistent link: https://www.econbiz.de/10014933983
Persistent link: https://www.econbiz.de/10015156986
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