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The paper is an account of the development of laboratory experimental methods in the early 1970s as influenced by the fields of Public Choice and Social Choice. Just a few key experiments conducted during a period when no experimental markets research was taking place, provide a bridge with the...
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Experimental research on the credibility of advice in coordination games shows that advice can have considerable influence on players' behavior, even when this advice conflicts with payoff-dominance. A crucial feature of this prior research, however, is that the adviser has no share in the final...
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We study subgame-perfect implementation (SPI) mechanisms that have been proposed as a solution to incomplete … efficiency. Our results highlight the importance of tailoring implementation mechanisms to the underlying behavioral environment …
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