Sick-pay is a common provision in labor contracts. It insures workersagainst a sudden loss of income due to unexpected absences andhelps them smooth consumption. Therefore, many governments findsick-pay socially desirable and choose to mandate its provision. Butsick-pay is not without its...

This study explores the effect of several personal religion-related variables on social behaviour, using three paradigmatic economic games: the dictator (DG), ultimatum (UG), and trust (TG) games. A large carefully designed sample of a Spanish urban adult population (N=766) is employed. From...

This study explores the effect of several personal religion-related variables on social behaviour, using three paradigmatic economic games: the dictator (DG), ultimatum (UG), and trust (TG) games. A large carefully designed sample of a Spanish urban adult population (N=766) is employed. From...

We contrast a standard deterministic signaling game with a variant where the signal-generating mechanism is subject to stochastic perturbations. In the theoretical part, we obtain a unique equilibrium with stochastic signals. This equilibrium is separating and has intuitive comparative-static...

The Axiom of Monotonicity (AM) is a necessary condition for a number of expected utility representations, including those obtained by de Finetti (1930), von Neumann and Morgenstern (1944), Savage (1954), and Anscombe and Auman (1963). The paper reports on experiments that directly test AM by...

We consider an oligopolistic market game, in which the players are competing firm in the same market of a homogeneous consumption good. The consumer side is represented by a fixed demand function. The firms decide how much to produce of a perishable consumption good, and they decide upon a...

Beauty-contest" is a game in which participants have to choose, typically, a number in [0,100], the winner being the person whose number is closest to a proportion of the average of all chosen numbers. We describe and analyze Beauty-contest experiments run in newspapers in UK, Spain, and Germany...

This paper describes a parametric approach to weakening rationality assumptions in game theory to fit empirical data better. The central features of game theory are: The concept of a game (players, strategies, information, timing, outcomes); strategic thinking; mutual consistency of beliefs and...

The paper explores organizations designed to influence a group to choose specific alternatives from a set of possible choices. The perspective is that of an administrator that has personal objectives not shared by the group and can dictate organization but not group choice. The design works...

We systematically investigate prisoner's dilemma games and dictator games with valence framing. We find that give versus take frames influence subjects' behavior and beliefs in the prisoner's dilemma game but not in the dictator game