This paper studies the effect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a twoperson public good game in partner design. At the end of each sequence, subjects can select a new partner out of six...

We investigate how the transparency of selecting an agent affects the agent’s reciprocal behavior. In a modified gift-exchange game, agents either receive information about having (not) been selected or receive no such information at all, which allows to analyze reciprocity of agents who were...

This paper studies the effect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a two-person public good game in partner design. At the end of each sequence subjects can select a new partner out of six...

We investigate how the transparency of selecting an agent for a task affects the agent's reciprocal behavior. In a laboratory experiment, we conduct a gift-exchange game with a random move representing the chance that a selected agent may not be available. We vary the transparency of the...

This paper studies the effect of introducing costly partner selection for the voluntary contribution to a public good. Subjects participate in six sequences of five rounds of a twoperson public good game in partner design. At the end of each sequence, subjects can select a new partner out of six...

In this paper, we apply the bounded rationality approach to aninvestment situation. In a simple setting where an investor decides betweena riskless bond and a risky asset, we distinguish three aspirationlevels: a lowest threshold that one wants to guarantee, an aspirationlevel given by investing...

Myopic loss aversion (MLA) has been established as one prominentexplanation for the equity premium puzzle. In this paper we address two issuesrelated to the effects of MLA on risky investment decisions. First, we assess therelative impact of feedback frequency and investment flexibility (via...