A great deal of late bidding has been observed on internet auctions such as eBay, which employ a second price auction with a fixed deadline. Much less late bidding has been observed on internet auctions such as those run by Amazon, which employ similar auction rules, but use an ending rule that...

We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of contracts in a moral hazard context. Explicit incentive contracts that are optimal according to self-interest theory become inferior when some agents value fairness. Conversely,...

Representing ambiguity in the laboratory using a Bingo Blower (which is transparent and not manipulable) and asking the subjects a series of allocation questions (which are more efficient than pairwise choice questions), we obtain data from which we can estimate by maximum likelihood methods...

Experiments can be used not only to test theory but also to measure preferences and assess heterogeneity of behavior. I discuss the design of experimental measures of ahruism and trust, as well as their uses in assessing how behavior varies across individuals, and across partners that a given...

Herein we explore whether a solemn oath can eliminate hypothetical bias in a voting referenda. First, we reject the null hypothesis that a hypothetical bias does not exist. Second, we cannot reject the hypothesis that after signing an oath people are as likely to vote for a public good in a...

This article uses a sequentialized experimental design to select simulation input combinations for global optimization, based on Kriging (also called Gaussian process or spatial correlation modeling); this Kriging is used to analyze the input/output data of the simulation model (computer code)....

To analyze the input/output behavior of simulation models with multiple responses, we may apply either univariate or multivariate Kriging (Gaussian process) metamodels. In multivariate Kriging we face a major problem: the covariance matrix of all responses should remain positive-de nite; we...

In this survey article, we review results from behavioural and experimental economics that have a potential application in the field of personnel economics. While personnel economics started out with a clean economic perspective on human resource management (HRM), recently it has broadened its...